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Investment bank Stifel raised its price target for Micron Technology (MU.O) from $550 to $1,500.June 18 - Ship tracking data from an international shipping information platform showed that three Saudi-flagged oil tankers carrying a total of 6 million barrels of crude oil passed through the Strait of Hormuz on the 18th.On June 18th, it was reported that on June 17th, the General Office of the Anhui Provincial Peoples Government officially issued the "Anhui Province Low Altitude+ Application Scenarios Expansion Project Action Plan (2026-2028)," clarifying the provinces three-year work goals, key tasks, and promotion measures for the low-altitude economy. According to the plan, by 2028, Anhui Province aims to achieve 5 million hours of annual low-altitude flight time, gather over 300 low-altitude operation companies, and cumulatively build 100 low-altitude application demonstration scenarios, forming a development model that is safe, commercially sustainable, and easily accepted by the public.On June 18th, the Sichuan Provincial Development and Reform Commission issued the "Several Policy Measures of Sichuan Province to Support Green and Low-Carbon Development." Among them, it proposes to support interest subsidies for equipment renewal loans. For eligible equipment renewal loans, in addition to the central governments 1.5 percentage point interest subsidy, extra interest subsidies will be provided through ultra-long-term special treasury bonds as stipulated. For eligible "technological upgrading loans" and "equipment renewal loans," a provincial government interest subsidy of 1.5% per annum will be provided for a period not exceeding one year. Multiple technological upgrading or equipment renewal loans implemented by a single enterprise can be consolidated and submitted together, with a maximum annual provincial government interest subsidy of 5 million yuan per enterprise. Banks are encouraged to proactively apply for interest subsidy funds and promptly disburse them to enterprises, reducing their financing costs for equipment renewal.On June 18, the Sichuan Provincial Development and Reform Commission issued the "Several Policy Measures of Sichuan Province to Support Green and Low-Carbon Development." The measures propose guiding financial institutions to launch green and low-carbon transformation financial products and services. Focusing on 10 industries, including steel, coal power, building materials, ceramics, textiles, petrochemicals, chemicals, aluminum, water transportation, and agriculture, diversified financial services and policy support will be provided to entities financing transformation. Cities and prefectures with suitable conditions are encouraged to expand the coverage of green finance fiscal-financial interaction policies and provide fiscal subsidies for transformation financial activities. The progress of financial institutions transformation finance activities will be included in the Peoples Bank of Chinas green finance assessment.

Gold Price Prediction: The XAU/USD pair aims to extend its climb above $1,920 as the Federal Reserve softens its policy tightening tempo

Alina Haynes

Jan 16, 2023 10:50

截屏2023-01-16 上午10.41.37.png 

 

In the early Asian session on Monday, the gold price (XAU/USD) moved sideways following a mammoth rally to the important resistance of $1,920.00. After breaching the $1,900 round-level barrier for the first time in eight months, the precious metal attracted considerable buying interest. In addition, a decline in the US Dollar Index (DXY) boosted the Gold price.

 

The risk profile remains optimistic as the S&P500 has posted a four-day winning run and the Federal Reserve (Fed) is expected to reduce the pace of its current policy tightening in response to a decrease in December's inflation data. Despite the risk appetite trend, the yield on US Treasury bonds has increased to 3.50 percent and remains strong. Despite Friday's rise in U.S. Consumer Confidence numbers, the US Dollar Index stayed below 101.80.

 

The University of Michigan announced a Consumer Confidence reading of 64,6 as opposed to the anticipated 60.5. The street is aware that retail demand has slowed, thus the factor that has encouraged customers is the decrease in inflation caused by decreased gasoline costs.

 

Wells Fargo analysts observe that the respite on the inflation front and wage growth are boosting sentiment, but they caution that the still-sour buying conditions suggest the positive sentiments in this report may not transfer into a spending spree.

 

At $1,897.42, the gold price has surpassed the 61.8% Fibonacci retracement (set from March 8's high of $2,070.54 to September 28's low of $1,614.85) Upward-sloping 10- and 20-period Exponential Moving Averages (EMAs) at $1,881.49 and $1,856.40, respectively, contribute to the upward filters.

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