EUR/USD 1.15291
0.037%
Gold 4311.84
-0.158%
Oil 91.759
3.625%
USD/JPY 160.362
0.115%
GBP/USD 1.33394
0.016%
GBP/JPY 213.918
0.132%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 8th, Guo Fangming, Director of the Economic Construction Department of the Ministry of Finance, stated at a State Council policy briefing that the Ministry of Finance is coordinating various funding channels to support key urban renewal tasks. These include subsidies for urban affordable housing projects, local government special bonds, central government budgetary investment, and ultra-long-term special treasury bonds. During the 15th Five-Year Plan period, the central government will maintain substantial support and continuously optimize policy design to improve the efficiency of fund utilization. In addition to fiscal support, tax support policies will be implemented simultaneously, and eligible urban renewal entities can enjoy existing tax incentives.The Hang Seng Index narrowed its decline to 0.94%, after falling more than 2% earlier in the session, with heavy machinery, food, oil, and dairy stocks performing strongly.On June 8th, Chen Shaopeng, Director of the Department of Building Energy Conservation and Technology of the Ministry of Housing and Urban-Rural Development, stated at a State Council policy briefing that the total length of urban underground pipe networks in my country is currently approximately 3.9 million kilometers, with about 7,700 kilometers of underground integrated pipe corridors already built. During the 15th Five-Year Plan period, approximately 770,000 kilometers of urban underground pipe networks will continue to be constructed and upgraded, including approximately 200,000 kilometers of gas pipelines, 175,000 kilometers of drainage pipelines, 175,000 kilometers of water supply pipelines, 100,000 kilometers of sewage pipelines, and 120,000 kilometers of heating pipelines. This will enhance urban safety and resilience while also stimulating effective investment.On June 8th, Qin Haixiang, Vice Minister of Housing and Urban-Rural Development, stated at a State Council policy briefing that the "15th Five-Year Plan for Urban Renewal" is the first national-level special plan in my countrys urban renewal field, clearly defining the goals, key tasks, and major projects for the 15th Five-Year Plan period. Going forward, local governments will refine their local urban renewal goals, tasks, and measures according to the plan, addressing each issue one by one.On June 8th, Saudi Arabia cut its official selling price for its main crude oil shipments to Asia for the second consecutive month, but the premium for its crude in its largest market remains near its highest level in decades. Saudi Aramco lowered the price of its Arab Light crude for shipments to Asia by $6 per barrel next month, bringing the premium over the average price in Oman and Dubai to $9.50 per barrel. This cut was larger than the $5 per barrel reduction expected by refiners and traders. Global oil markets remain disrupted as negotiations between the US and Iran to extend the ceasefire stall and the Strait of Hormuz remains closed. With tankers stuck in the Persian Gulf and empty ships unable to enter to load new cargoes, the Middle East has drastically reduced production, shutting down oil fields and slowing or halting refinery operations.

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