• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 25, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about Chinas law enforcement patrols in the waters east of Taiwan. Spokesperson Guo stated that, according to Chinese domestic law and international law, including the United Nations Convention on the Law of the Sea, China possesses an exclusive economic zone and continental shelf in the waters east of Taiwan. The relevant Chinese departments law enforcement patrols in these waters are legitimate measures to exercise jurisdiction in accordance with the law, maintain regional stability and maritime order, and are also necessary actions against Japan and the Philippines manipulation of maritime boundary issues and infringement upon Chinas maritime rights and interests. Relevant countries should respect Chinas sovereignty, territorial integrity, and maritime rights and interests, stop confusing right and wrong and distorting the truth, and relevant institutions should not make statements inconsistent with their status. The DPP authorities turn a deaf ear and a blind eye to the infringements committed by Japan and the Philippines, but instead colluded with external forces to launch a massive attack and smear campaign against the central governments rights protection efforts, and clamored for the fallacy of "Taiwan independence." This once again exposes the DPP authorities stubborn "Taiwan independence" nature and their ugly face of betraying the overall interests of the Chinese nation, and will surely be spurned by compatriots on both sides of the Taiwan Strait and subject to historical reckoning.June 25th - According to US media reports, Swiss Federal President and Minister of Economic Affairs Guy Parmelin will visit the United States at the end of this month to meet with US Trade Representative Greer, aiming to finalize a broader trade agreement between the two countries amid renewed tariff pressure from Washington. Parmelins trip is scheduled from June 29th to July 9th, during which he will visit the United States, Canada, and Mexico. A statement from his ministry confirmed the meeting with Greer was planned, but did not specify a date. The statement also indicated that the trip is intended to "emphasize the win-win nature of the close economic ties between Switzerland and the United States."On June 25, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about issues related to Honduras. Guo Jia-kun stated that China has noted the Honduran governments clarification of the lies told by the Taiwan authorities. This once again demonstrates that adhering to the one-China principle is a matter of international justice, the will of the people, and an irresistible trend. The "Taiwan independence" forces and the DPP authorities are going against the tide, are unpopular, and are doomed to failure. Since the establishment of diplomatic relations between China and Honduras, bilateral relations have developed rapidly on the basis of the one-China principle, and pragmatic cooperation in various fields has contributed to Honduras economic and social development. Facts fully prove that the establishment of diplomatic relations between China and Honduras is in the fundamental and long-term interests of both countries and their people. China is willing to promote the continuous development of China-Honduras relations on the basis of the one-China principle.Midday futures market summary for June 25: Weakness was concentrated in precious metals, chemicals, and the energy chain, with Shanghai silver leading the decline, falling by over 7%. Click to view.WTI and Brent crude oil prices are currently trading at around $70.42/barrel and $73.18/barrel respectively.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

 272.png

 

During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.