EUR/USD 1.16291
0.262%
Gold 4662.05
1.750%
Oil 59.473
0.361%
USD/JPY 157.835
-0.150%
GBP/USD 1.33919
0.092%
GBP/JPY 211.376
-0.059%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 19th - On January 15th, Dai Houliang, Chairman of China National Petroleum Corporation (CNPC), met with Canadian Prime Minister Mark Carney in Beijing. The two sides exchanged views on promoting and expanding Sino-gas cooperation.The yield on Japans 40-year government bonds rose to 3.895%, a record high.On January 19th, Peng Yongtao, Director of the Service Industry Survey Center of the National Bureau of Statistics, stated that the service sector contributed 61.4% to national economic growth, an increase of 3.7 percentage points from the previous year; the service sector boosted GDP growth by 3.0 percentage points, an increase of 0.1 percentage points from the previous year; and the service sectors added value accounted for 57.7% of GDP, an increase of 0.9 percentage points from the previous year. In the fourth quarter, the added value of the service sector reached 21,594.8 billion yuan, a year-on-year increase of 5.2%, contributing 63.2% to economic growth and boosting GDP growth by 2.8 percentage points. The service sectors added value accounted for 55.7% of GDP. In December, the service sector production index increased by 5.0% year-on-year, 0.8 percentage points faster than in November.On January 19th, BetaShares Chief Economist David Barsanese stated that Trumps threats against Europe regarding Greenland could ultimately backfire. He pointed out that no self-respecting European country is likely to relinquish Greenland simply because of tariff threats. Furthermore, imposing higher tariffs on major trading partners will only exacerbate the risks facing the US economy, especially if Europe ultimately retaliates with trade measures. Barsanese added that if Trump is ultimately forced to concede and fails to obtain Greenland, it will once again expose the hollow nature of these threats and undermine all future negotiations.On January 19th, Nomura issued a research report stating that it expects Tencents (00700.HK) revenue to grow 12% year-on-year to RMB 193.5 billion in the last quarter, largely in line with market expectations. Nomura also expects Tencents non-IFRS net profit to increase 15% year-on-year to RMB 63.9 billion, 3% lower than the latest market forecast; due to a 4.2 percentage point increase in gross margin, the non-IFRS operating profit margin is expected to rise 0.7 percentage points to 35.2%. The bank also expects the operating profit margin to remain around 37.2% in fiscal year 2026. The report suggests that Tencent may follow ByteDances lead and more actively utilize GPU resources in third-party data centers to train its Tencent Mixed-Model to address the shortage of advanced chips, and believes the company will increase its investment in AI. Nomura maintains its "Buy" rating on Tencent and continues to give it a target price of HKD 775.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

截屏2022-09-15 下午3.06.36.png

 

Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

Suggestion