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June 12th - In May, the total amount of cross-border RMB settlement under current account items was RMB 1.67 trillion, of which goods trade, services trade and other current account items were RMB 1.28 trillion and RMB 0.39 trillion respectively; the total amount of cross-border RMB settlement for direct investment was RMB 0.58 trillion, of which outward direct investment and foreign direct investment were RMB 0.22 trillion and RMB 0.36 trillion respectively.June 12th - At the end of May, the outstanding balance of domestic and foreign currency loans was 284.79 trillion yuan, a year-on-year increase of 5.4%. The outstanding balance of RMB loans at the end of May was 281.02 trillion yuan, a year-on-year increase of 5.5%. RMB loans increased by 9.11 trillion yuan in the first five months. By sector, household loans decreased by 631.4 billion yuan, of which short-term loans decreased by 694.2 billion yuan and medium- and long-term loans increased by 62.8 billion yuan; loans to enterprises and institutions increased by 9.63 trillion yuan, of which short-term loans increased by 3.77 trillion yuan, medium- and long-term loans increased by 4.99 trillion yuan, and bill financing increased by 699.9 billion yuan; loans to non-bank financial institutions decreased by 279.7 billion yuan. At the end of May, the outstanding balance of foreign currency loans was 553.2 billion US dollars, a year-on-year increase of 2.6%. Foreign currency loans increased by 8.2 billion US dollars in the first five months.June 12th - At the end of May, the balance of domestic and foreign currency deposits reached 352.38 trillion yuan, a year-on-year increase of 8.7%. The balance of RMB deposits at the end of May was 344.45 trillion yuan, a year-on-year increase of 8.7%. In the first five months, RMB deposits increased by 15.77 trillion yuan. Among them, household deposits increased by 5.63 trillion yuan, non-financial enterprise deposits increased by 1.26 trillion yuan, fiscal deposits increased by 1.91 trillion yuan, and deposits of non-bank financial institutions increased by 5.64 trillion yuan. At the end of May, the balance of foreign currency deposits reached 1.16 trillion US dollars, a year-on-year increase of 17.5%. In the first five months, foreign currency deposits increased by 103.2 billion US dollars.June 12th - Preliminary statistics show that the total social financing scale for the first five months of 2026 reached 17.48 trillion yuan, 1.16 trillion yuan less than the same period last year. Specifically, RMB loans to the real economy increased by 9 trillion yuan, 1.38 trillion yuan less than the same period last year; foreign currency loans to the real economy increased by 115.3 billion yuan (equivalent to RMB), 211.6 billion yuan more than the same period last year; entrusted loans decreased by 103.1 billion yuan, 91.8 billion yuan more than the same period last year; trust loans increased by 5.7 billion yuan, 57 billion yuan less than the same period last year; undiscounted bank acceptance bills decreased by 17.2 billion yuan, 151.4 billion yuan more than the same period last year; net financing of corporate bonds reached 1.67 trillion yuan, 757.7 billion yuan more than the same period last year; net financing of government bonds reached 5.67 trillion yuan, 634 billion yuan less than the same period last year; and domestic equity financing of non-financial enterprises reached 230.5 billion yuan, 79.9 billion yuan more than the same period last year.June 12th - Preliminary statistics show that as of the end of May 2026, the outstanding amount of total social financing was 458.81 trillion yuan, a year-on-year increase of 7.7%. Specifically, outstanding RMB loans to the real economy totaled 277.4 trillion yuan, a year-on-year increase of 5.5%; outstanding foreign currency loans to the real economy (converted to RMB) totaled 1.14 trillion yuan, a year-on-year decrease of 4.3%; outstanding entrusted loans totaled 11.22 trillion yuan, unchanged year-on-year; outstanding trust loans totaled 4.67 trillion yuan, a year-on-year increase of 7.1%; outstanding undiscounted bank acceptance bills totaled 2.13 trillion yuan, a year-on-year decrease of 6.2%; outstanding corporate bonds totaled 35.69 trillion yuan, a year-on-year increase of 8.4%; outstanding government bonds totaled 100.6 trillion yuan, a year-on-year increase of 15.1%; and outstanding domestic shares of non-financial enterprises totaled 12.43 trillion yuan, a year-on-year increase of 4.7%.

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

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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%.