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On January 24th, the "Several Measures of Beijing Municipality on Promoting the Development and Utilization of Commercial Satellite Remote Sensing Data Resources (2026-2030)" proposed to strengthen and optimize diversified business entities. It encourages internet companies and geographic information companies to develop value-added services based on commercial satellite data, cultivating "satellite data + industry" integrated business entities. It encourages capable companies to conduct mergers and acquisitions of upstream and downstream satellite data companies, integrating and improving the ground station network and data application service industry chain, creating globally competitive leading companies in the chain. It strengthens the cultivation of specialized, refined, and innovative tiers of commercial satellite companies, providing additional deductions for R&D expenses for companies in subdivided fields that meet policy requirements, such as remote sensing data artificial intelligence processing, space-based computing power (network), and innovative application platform R&D.On January 24th, according to a report on the Lianhe Zaobao website in Singapore, Nvidia founder Jensen Huang visited China again, with his first stop being Nvidias new office in Shanghai. This is Huangs first trip to China in 2026. According to media reports citing multiple sources, Huang visited Nvidias new Shanghai office, met with employees, answered many questions, and reviewed the companys key events for 2025. Sources said Huangs itinerary in China is largely consistent with early 2025, mainly involving attending New Years parties and supplier appreciation events at the Shanghai, Beijing, and Shenzhen branches. Bloomberg previously cited unnamed sources who reported that Huang would travel to China before the Lunar New Year holiday to participate in company activities, and was expected to visit Beijing as well.On January 24th, it was reported that a plenary meeting of the National Film Development Special Fund Management Committee was held in Beijing on January 23rd. The meeting emphasized that film is a spiritual and cultural product, and also a leading sector of the cultural industry, playing a vital role in promoting social and economic development, particularly consumption upgrading. It stressed the need to actively implement the requirements of the in-depth implementation of the special action to boost consumption, summarize the experience of the film economy in promoting consumption in recent years, and, under the guidance of the Ministry of Finance and the National Film Administration, carefully organize the pilot work of using the film special fund to support and promote film consumption. It also emphasized the need to strongly support provincial and municipal party committees and governments, as well as film authorities at all levels, to enrich the forms and expand the content of film-related consumption promotion activities according to local conditions, thereby improving the quality and efficiency of these activities and better stimulating film consumption and promoting market prosperity. The meeting pointed out that with the Spring Festival approaching, the focus should be on the Spring Festival film season, with a results-oriented approach, supporting various regions in carrying out diverse "film+" activities to revitalize the film economy and promote a booming holiday consumption.On January 24th, according to Dongan Power, Gu Jie, Vice President of XPeng Motors, led a core team to visit Dongan Power. Zhao Xingtian, Deputy General Manager of Dongan Power, along with heads of R&D, marketing, quality, and sales departments, accompanied them during the meeting. The two sides engaged in in-depth exchanges and reached a consensus on core issues such as the advancement of mass production projects and the development of next-generation engine technology.January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.

Forecast for the price of gold: XAU/USD tussles with $1,730 resistance before US inflation

Daniel Rogers

Sep 13, 2022 10:57

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As traders anticipate the crucial US Consumer Price Index (CPI) on Tuesday, the price of gold (XAU/USD) grinds higher above a fortnight peak after a two-day advance to $1,725 per ounce. The market's optimism and anticipated preparations for today's inflation data may be responsible for the metal's most recent increases.

 

The market's cautious optimism appears to have been supported by rumors that Ukraine is succeeding in driving the Russian troops away from some of its conflict zones, even though this also increased concerns about Russia's strong response. The expectation of additional stimulus from powerful economies like China, the US, the UK, and Europe might be on the same lines. It's important to keep in mind that a Chinese holiday and a light schedule may have contributed to the XAU/recovery USD's because Beijing's lack of political or economic problems may have supported metal prices. In addition, recent news from the Wall Street Journal (WSJ) that US gas prices have fallen for a 13th week in a row helped to relieve market pressure and encouraged a risk-taking attitude that was favorable to the gold price.

 

However, the recent easing of the headline economics and the inflation expectations seems to have pushed back the gold bears despite a light schedule, even though the policymakers from the US Federal Reserve and the European Central Bank (ECB) remain hawkish elsewhere.

 

In the midst of these maneuvers, Wall Street posted another day of profits despite rising US Treasury yields, which at the time were up five basis points (bps) to 3.36%. The US Dollar Index (DXY), which fell for a second straight day to the lowest levels in a fortnight, eventually dipped to approximately 108.30, was affected by the same factors.

 

Moving on, the US CPI for August is critical in light of the most recent easing of pricing pressure. According to the projections, the headline figure will decline to -0.1% MoM from 0.0% the previous month, while the CPI excluding food and energy is expected to hold steady at 0.3% MoM. The US dollar may continue to decline if the inflation numbers are weaker, which might support the XAU/continued USD's gain.

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