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On September 20, 2026, the Ministry of Agriculture and Rural Affairs and the China Meteorological Administration issued a warning for the risk of disasters caused by continuous rain during the autumn harvest. From September 21 to 28, frequent rainfall is expected in southeastern Northwest China, eastern Southwest China, the Jianghan Plain, western Huanghuai Plain, and northern Anhui, posing a high risk of disasters during the autumn harvest. Specifically, from September 23 to 27, northeastern Sichuan, central and northern Chongqing, southeastern Shaanxi, southern Henan, northwestern Hubei, and northwestern Anhui will experience continuous moderate to heavy rain, with some areas experiencing torrential rain and localized extremely heavy rain, further increasing the risk of disasters during the autumn harvest. It is recommended that the above-mentioned areas seize the opportunity during breaks in rainfall to harvest mature crops promptly, and pay attention to ventilation, storage, drying, and storage. In areas with heavy rainfall, timely ditching and drainage should be carried out after the rain to create suitable conditions for agricultural machinery operations.September 20th - The Eighth Session of the Seventh Shenzhen Municipal Peoples Congress convened at the Civic Center on September 20th to elect the Mayor of Shenzhen Municipal Peoples Government. At 10:30 AM, the Congress held its first plenary session, approving the election procedures. At 3:00 PM, the Congress held its second plenary session, electing Li Yun as Mayor of Shenzhen Municipal Peoples Government by secret ballot.September 20th - With the Mid-Autumn Festival and National Day holidays approaching, the airfare market continues to heat up. Monitoring on September 20th revealed that popular long-haul tourist routes and return-home routes saw significant price increases the day before the Mid-Autumn Festival. On October 7th, the lowest price on the platform for a flight from Urumqi to Shanghai reached 3070 yuan, approximately 99% higher than the 1540 yuan price for a flight from Shanghai to Urumqi on September 24th, nearly doubling. The Shenzhen-Chongqing route also shows a trend of "more expensive return trips": the lowest price for a Shenzhen-Chongqing outbound flight on September 24th was 1010 yuan, while the lowest price for a Chongqing-Shenzhen flight on October 7th was 1450 yuan, a return price increase of about 44%. Current booking and forecast data indicate that this years "Double Festival" civil aviation market is showing a clear characteristic of "both volume and price increases." Flight Manager data shows that as of September 17th, the average booked domestic economy class ticket price during the 2026 Mid-Autumn Festival and National Day holidays is approximately 973.7 yuan, a year-on-year increase of 9%; the average daily passenger volume is expected to increase by 3.1% year-on-year during the same period.The China Earthquake Networks Center officially reported that a 6.2-magnitude earthquake occurred in Papua New Guinea (5.90 degrees south latitude, 146.10 degrees east longitude) at 17:17 on September 20, with a focal depth of 120 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.2 occurred near Papua New Guinea (5.71 degrees south latitude, 146.17 degrees east longitude) at 17:17 on September 20. The final result is subject to the official rapid report.

Gold Price Forecast: XAU / USD bears move in for the kill ahead of a key event, Fed's Powell

Alina Haynes

Mar 07, 2023 11:57

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Even though the US Dollar fell and yields increased advance of Jerome Powell's testimony before Congress, gold prices were slightly weaker during the US session. After breaking a streak of four consecutive weekly declines, the yellow metal was falling below $1,850. Initially, China's modest growth objective led to a strengthening of the US dollar, but Powell is expected to reiterate the view that rates will rise faster than predicted.

 

Recent statements by Fed officials have reaffirmed the need to continue raising interest rates until they reach at least 5%, and a plethora of data points in that general direction. "Several regional Fed presidents have signaled an openness to higher interest rates and larger increases if the data remain robust. It would mark a shift in the Fed’s guidance if Powell articulates similar sentiments at tomorrow’s testimony and a step back from the cautious policy around rates,'' analysts at ANZ Bank said.

 

Recent strength in Nonfarm Payrolls and Retail Sales data suggests that policy is not restrictive enough, and the Fed may have been caught off guard by weak fourth-quarter data. The analysts added that the Fed might benefit from highlighting the significance of short-term inflation expectations and current inflation in its estimates of restrictiveness.

 

In the meantime, the Nonfarm Payrolls data will be the focus, as many Fed members are anticipating a slowdown in job growth following January's surge of over 500,000 new positions. However, if the employment market doesn't cool sufficiently, the markets will likely see that the March FOMC meeting will likely see a 50bp hike, which is anticipated to impact heavily on the Gold price. ''A return to CTA selling could be in the cards as prices still tantalize with a break below the 200dma and key $1,800/oz mark,'' analysts at TD Securities argued.

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