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On August 31st, the Japanese and US governments were discussing the simultaneous release of special measures to reduce the burden of "reciprocal tariffs" on Japan, a presidential decree to lower automobile tariffs, and a joint document on $550 billion in US investment. Initially reluctant to adopt a document, Japan was forced to relent due to the potential for further delays in tariff reductions. To facilitate US investment, changes to the relevant decrees of the semi-official Japan Bank for International Cooperation (JBIC) are also under consideration. According to Japanese government officials, drafting of the joint document has begun. The two sides will finalize the details of the agreement, including specific investment promotion methods and profit distribution strategies.Ukraines General Staff said that despite Russias claims of success in its summer offensive, Russian forces have not yet fully controlled any major Ukrainian city.On August 31, the mayor of Chicago, the third-largest city in the United States, signed an executive order on August 30, expressing a "refusal to cooperate" with the Trump administrations plan to deploy a large number of federal law enforcement officers and National Guard troops to the city. Chicago Mayor Brandon Johnson, a Democrat, said the executive order indicates that the Chicago Police Department will not cooperate with federal National Guard and other law enforcement personnel in the city, including patrols, traffic stops, and checkpoints. He also instructed city police officers to wear formal uniforms and no face coverings to distinguish them from federal troops and avoid public confusion.According to RIA Novosti, Russian air defense forces shot down 21 Ukrainian drones at night.On August 31st, the China Securities Association reported that in the first half of 2025, all listed companies achieved operating revenue of 35.01 trillion yuan, a year-on-year increase of 0.16%. Second-quarter revenue reached 18.11 trillion yuan, a year-on-year increase of 0.43% and a quarter-on-quarter increase of 7.15%. Net profit in the first half of the year reached 3.00 trillion yuan, a year-on-year increase of 2.54%, an increase of 4.76 percentage points over the previous years full-year growth rate. Nearly 60% of companies in the market saw positive revenue growth, and over three-quarters were profitable. 2,475 companies saw positive net profit growth, and 1,943 companies saw both revenue and net profit growth.

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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