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On January 24th, the "Several Measures of Beijing Municipality on Promoting the Development and Utilization of Commercial Satellite Remote Sensing Data Resources (2026-2030)" proposed to strengthen and optimize diversified business entities. It encourages internet companies and geographic information companies to develop value-added services based on commercial satellite data, cultivating "satellite data + industry" integrated business entities. It encourages capable companies to conduct mergers and acquisitions of upstream and downstream satellite data companies, integrating and improving the ground station network and data application service industry chain, creating globally competitive leading companies in the chain. It strengthens the cultivation of specialized, refined, and innovative tiers of commercial satellite companies, providing additional deductions for R&D expenses for companies in subdivided fields that meet policy requirements, such as remote sensing data artificial intelligence processing, space-based computing power (network), and innovative application platform R&D.On January 24th, according to a report on the Lianhe Zaobao website in Singapore, Nvidia founder Jensen Huang visited China again, with his first stop being Nvidias new office in Shanghai. This is Huangs first trip to China in 2026. According to media reports citing multiple sources, Huang visited Nvidias new Shanghai office, met with employees, answered many questions, and reviewed the companys key events for 2025. Sources said Huangs itinerary in China is largely consistent with early 2025, mainly involving attending New Years parties and supplier appreciation events at the Shanghai, Beijing, and Shenzhen branches. Bloomberg previously cited unnamed sources who reported that Huang would travel to China before the Lunar New Year holiday to participate in company activities, and was expected to visit Beijing as well.On January 24th, it was reported that a plenary meeting of the National Film Development Special Fund Management Committee was held in Beijing on January 23rd. The meeting emphasized that film is a spiritual and cultural product, and also a leading sector of the cultural industry, playing a vital role in promoting social and economic development, particularly consumption upgrading. It stressed the need to actively implement the requirements of the in-depth implementation of the special action to boost consumption, summarize the experience of the film economy in promoting consumption in recent years, and, under the guidance of the Ministry of Finance and the National Film Administration, carefully organize the pilot work of using the film special fund to support and promote film consumption. It also emphasized the need to strongly support provincial and municipal party committees and governments, as well as film authorities at all levels, to enrich the forms and expand the content of film-related consumption promotion activities according to local conditions, thereby improving the quality and efficiency of these activities and better stimulating film consumption and promoting market prosperity. The meeting pointed out that with the Spring Festival approaching, the focus should be on the Spring Festival film season, with a results-oriented approach, supporting various regions in carrying out diverse "film+" activities to revitalize the film economy and promote a booming holiday consumption.On January 24th, according to Dongan Power, Gu Jie, Vice President of XPeng Motors, led a core team to visit Dongan Power. Zhao Xingtian, Deputy General Manager of Dongan Power, along with heads of R&D, marketing, quality, and sales departments, accompanied them during the meeting. The two sides engaged in in-depth exchanges and reached a consensus on core issues such as the advancement of mass production projects and the development of next-generation engine technology.January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.

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%.