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On January 26th, at a press conference on Chongqings import and export situation in 2025, Chen Hai, Deputy Director and Spokesperson of Chongqing Customs, introduced that in 2025, despite multiple pressures and challenges, Chongqings import and export demonstrated strong resilience and vitality, achieving stable volume and improved quality, and a positive development trend. According to customs statistics, Chongqings total foreign trade import and export volume reached 800.68 billion yuan in 2025, a year-on-year increase of 12%. Among Chongqings exported products, the "new three categories" performed exceptionally well, with electric vehicles, photovoltaic products, and lithium batteries showing export growth rates as high as 73.5%.The yield on Japans two-year government bonds rose 2 basis points to 1.27%, a new high since 1996.Hyundai Motor: is evaluating a range of collaboration opportunities, including potential collaborations in the field of hydrogen energy, and taking full advantage of Canadas strengths.Hyundai Motor: We currently have no plans to establish a car manufacturing plant in Canada.On January 26th, Tim Kelleher, Head of FX Sales at the Commonwealth Bank of Australia in Auckland, stated, "This is the first time in over a decade that the Federal Reserve has conducted a currency inquiry. Theyve made threats before, but this is a very different approach than their usual practice. We are in a new system... Weve already seen a wave of anti-dollar movements. Theres also been ongoing discussion about a Plaza Accord 2.0, which, if it happens, would be significant and could signal a potential weakening of the dollar."

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

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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.

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