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Google: Working with the UK Competition and Markets Authority (CMA) to ensure new digital market rules protect user experience while promoting fairness and choice.Affected by better-than-expected US PPI data and rising oil prices, the yield on German two-year government bonds jumped nearly 6 basis points to 2.435%, while the yield on Italian two-year government bonds rose 7.2 basis points to 2.671%.March 18th - The US February PPI rose more than expected, and may accelerate further as the Middle East war pushes up oil prices and import transmission continues. The US Bureau of Labor Statistics said Wednesday that the February PPI surged 0.7% month-over-month, driven by the service sector, while the January increase was revised to 0.5%. The war between the US and Israel and Iran, which began at the end of February, has already driven oil prices up by more than 40%. Economists expect the inflationary impact of the war to be reflected in the March Consumer and Producer Price Report, to be released next month. The Federal Reserve is expected to keep interest rates unchanged later today. Fed officials will submit new economic projections, and economists expect inflation forecasts to be revised upwards; financial markets expect only one rate cut by the Fed this year.On March 18th, it was reported that JD.com and OPPO signed a strategic cooperation agreement on March 17th, outlining OPPOs strategic goal of achieving over 100 billion RMB in sales across JD.coms omnichannel platform within the next three years. According to the agreement, both parties will leverage their respective strengths to deeply collaborate across five dimensions: products, services, users, marketing, and channels, deepening the strategic cooperation between OPPO, OnePlus, and JD.com. Simultaneously, through continuous product and service innovation, they will jointly increase sales across all product categories, including smartphones, tablets, and IoT products, exploring new market growth opportunities.Traders further reduced their bets on a Federal Reserve rate cut in 2026.

Forecast for the Gold Price: XAU/USD bulls return, market remains tense

Alina Haynes

Dec 27, 2022 10:57

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According to yesterday's analysis, Gold Price Forecast: XAU/USD bulls must commit at critical trendline support, the Gold price has found demand at the aforementioned support region and has moved back in line with the larger bullish trend. On Friday, ahead of the Christmas holidays and long weekend, the price of gold inched up, aided by Friday's falling inflation statistics.

 

US consumer spending rose 0.1% in November after rising 0.4% in October, indicating that inflation is moderating, but not enough for markets to anticipate a policy shift from the Federal Reserve or a halt in their rate-hike trajectory. The index of personal consumption expenditures (PCE) decreased by 0.5 percentage points from October to 5.5% annually. Excluding volatile food and energy costs, the index increased on a monthly and annual basis by 0.2% and 4.7%, respectively, in accordance with expectations. The increased revision of October PCE inflation data is terrible news for the gold market.

 

Thursday's US Gross Domestic Product and Jobless Claims figures revealed that the nation's economy returned quicker than previously predicted and that the labor market remains extremely tight. Overall, the plethora of data offers little to alter the belief that the Fed will stick to its plan to combat inflation in 2023. The non-yielding, non-interest-bearing asset is on course for a second consecutive year fall as a result of these rate hikes enacted to curb price pressure.

 

According to Brown Brothers Harriman analysts, the markets continue to remain skeptical of the Fed. "After reaching a high of 5.5% following the most recent FOMC meeting, the terminal rate as observed on the swaps market has fallen down to approximately 5%," analysts explained. "Similarly, WIRP predicts a 50 bp increase on February 1 is priced in at only 33%, followed by a final 25 bp increase on March 22. We cannot see why the markets continue to oppose the Federal Reserve. With the exception of a few communications blunders here and there, chairman Jerome Powell and his colleagues have been firm about the need to raise interest rates for an extended period of time. Recent US data indicate that the labor market remains robust and that the Fed must take additional action.


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