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February 20th - According to NIO-SW (09866.HK), on February 19th, 2026 (the third day of the Lunar New Year), NIOs total battery swap volume reached 165,898 times, setting a new historical record. This marks the third time in the last five days that NIO has broken its historical record.Market news: Iran and Egypt have reached an agreement to restore full diplomatic relations and reopen their embassies in each others capitals.On February 20th, the All-China Federation of Industry and Commerce (ACFIC) and the China Enterprise Confederation (CEC) jointly issued the "Labor Management System for Private Enterprises (Reference Text)," aiming to further guide private enterprises in establishing and improving a modern enterprise system with Chinese characteristics, enhancing their labor management capabilities, and actively building harmonious labor relations. The system comprises twelve chapters, covering the main aspects of the entire labor management process, including general principles, recruitment and hiring, labor contracts, labor dispatch, rest and leave, and wages and benefits. It aims to provide private enterprises, especially small and medium-sized enterprises (SMEs), with a comprehensive, standardized, and referable framework for labor management. Next, the ACFIC and CEC will conduct in-depth publicity, interpretation, and training activities to promote the improvement of private enterprise governance capabilities and build harmonious labor relations.Indonesian Minister: The trade agreement between Indonesia and the United States will not involve any third-party countries.Reserve Bank of New Zealand Chief Economist Conway: The Reserve Bank of New Zealand will not act hastily on the issue of raising interest rates.

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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