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According to the New York Times, the United States plans to withdraw one-third of the fighter jets it provided to NATO for European defense.June 12th - The 12th China (Shanghai) International Technology Import and Export Fair (CITICF) was held from June 11th to 13th. At the Cryptography Application and Innovation Development Conference held within the CITICF venue, the "Cryptography + Artificial Intelligence Integration and Innovation Development Industry Alliance" was officially established. Representative Shanghai cryptography and artificial intelligence companies became the first batch of members of the alliance, marking a new stage of collaborative innovation and integrated application for Shanghais cryptography and AI industries.According to AXIOS, citing US sources, Israeli Prime Minister Benjamin Netanyahu recently contacted close associates in the Trump administration in an attempt to obtain information about the US-Iran agreement.June 12 – The China Federation of Logistics and Purchasing (CFLP) today (June 12) released the "China General Cargo International Logistics Development Report (2026)". According to the report, with the continuous adjustment of the international trade structure and the in-depth advancement of high-quality Belt and Road cooperation, my countrys general cargo international logistics industry has maintained a steady development trend, with significantly enhanced professional service capabilities, more diversified and smooth international logistics channels, and a marked improvement in comprehensive support service capabilities. The report states that my countrys general cargo exports will maintain a high overall scale in 2025. The total export value of major general cargo items such as overseas engineering projects, power equipment, construction machinery, and agricultural machinery will exceed US$295 billion, a year-on-year increase of 12%, driving a significant increase in the scale of my countrys general cargo international logistics. In terms of product category structure, electromechanical equipment has the largest export volume, accounting for about 30%.On June 12, 2026, the Ministry of Finance hosted the APEC Senior Finance Officials Meeting in Chengdu, Sichuan Province. Vice Minister of Finance Liao Min attended the meeting and delivered the opening address. Liao Min stated that driven by technological progress and digital transformation, the Asia-Pacific regions economy has maintained rapid growth and remains a crucial engine of the global economy. Currently, the regional economy faces multiple challenges. APEC economies should uphold multilateralism, deepen communication and coordination on macroeconomic policies, accelerate economic transformation, maintain the stability and smooth flow of regional industrial and supply chains, and jointly promote long-term sustainable growth of the Asia-Pacific economy. Liao Min also introduced Chinas economic performance, emphasizing that during the 15th Five-Year Plan period, China will continue to promote high-quality development and high-level opening-up, further expand domestic demand, boost consumption, share Chinas development opportunities and dividends with the world, and jointly build an Asia-Pacific community with a shared future.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

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Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


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