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July 14 – The State Council Information Office held a press conference today to introduce my countrys foreign trade performance this year and answer reporters questions. In recent years, China has consistently maintained its position as the worlds largest exporter of sporting goods, accounting for over 40% of global exports. In the first half of the year, my countrys exports of sporting goods and equipment reached 67.53 billion yuan, of which ball sports accounted for 3.08 billion yuan. In the first half of the year, my countrys exports of fitness and rehabilitation equipment such as treadmills reached 26.7 billion yuan, and exports of water sports equipment such as paddleboards reached 4.77 billion yuan. In addition, exports of trendy skateboards, popular among young people, increased by 20.4%. my countrys sporting goods not only maintain a stable market share in traditional markets such as Europe and the United States, but also perform well in emerging markets such as Latin America and Africa. In the first half of the year, my countrys exports of sporting goods to Latin America and Africa increased by 18.9% and 8.1%, respectively.According to the General Administration of Customs, China exported 1.069 million automobiles (including chassis) in June, compared with 988,000 in May.According to the General Administration of Customs, China exported 5.307 million automobiles (including chassis) from January to June.According to the General Administration of Customs, China exported 53.261 million mobile phones in June, compared with 53.436 million in May.According to the General Administration of Customs, China imported 6,261.5 tons of rare earths in June, compared with 6,770.2 tons in May.

Gold Price Prediction: XAU / USD investors approach a 50% mean reversion zone prior to NFP

Daniel Rogers

Mar 10, 2023 11:28

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After data showed that weekly US jobless claims increased more than anticipated, the price of gold rose on Friday as the dollar weakened. This caused the market to reconsider the Federal Reserve's next move.

 

At the time of writing, the US Dollar index, DXY, was down 0.13 percent, making the price of Gold less expensive for buyers using other currencies. Ahead of the crucial Nonfarm Payrolls report, the gold price is currently in the $1,830s.

 

In the meantime, "the number of Americans filing for unemployment benefits increased. "Initial claims increased to 211k in the week to 4 March, while continuing claims increased to 1,718k," ANZ Bank analysts explained.

 

"This most recent data suggests that the labor market may be beginning to cool, but this data is notoriously volatile, so the market will be on the lookout for additional evidence that labor demand is decreasing. The Challenger Job Cuts data, which shows 77,000 jobs were eliminated in February, is one indicator that US companies are beginning to reduce their workforce, analysts added.

 

"This is less than the January figure of 109,243, but it is 400% higher than the previous February, and it is the highest number of jobs lost in any February since 2009. The majority of layoffs are in the technology, retail, and financial sectors.


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