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September 18th - Data from multiple travel platforms shows that the inbound tourism market continued its growth trend during this years Mid-Autumn Festival and National Day holidays, exhibiting new characteristics of diversified tourist source structure and deeper destination penetration. Ctrip data shows that inbound tourist arrivals will maintain double-digit growth during the combined Mid-Autumn Festival and National Day holiday. The expansion of the tourist source map is a prominent feature of this years inbound tourism during the holidays. Russia jumped to become the number one source country with a growth rate of 173%, followed by markets such as the UK, Malaysia, and Canada with growth rates exceeding 50%. The source structure of inbound tourism is rapidly expanding from traditional East Asian neighbors to Europe and Oceania. The continued buzz surrounding "ChinaTravel" on global social media has provided a foundation for this change. Industry analysts believe that the growth momentum of the inbound tourism market is shifting from policy dividends to a dual-engine approach of "policy + content." For local areas, the ability to transform local cultural resources into experiential and shareable cultural tourism products will affect their competitiveness in the inbound tourism market.Engineers India: is in talks with Saudi Arabia and the UAE regarding the construction of oil facilities.On September 18, Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to comprehensively strengthen the protection and management of traditional Chinese medicine (TCM) knowledge to safeguard the foundation for its survival and development. It stressed the importance of coordinating the protection and utilization of TCM resources, continuously deepening research and interpretation of TCMs basic theories, diagnostic and treatment principles, and mechanisms of action, increasing the promotion and application of traditional TCM knowledge, and strengthening international exchange and cooperation to enhance my countrys international influence in traditional medicine through mutual learning. The meeting discussed and approved in principle the draft amendments to 15 laws, including the "Emergency Response Law of the Peoples Republic of China," and decided to submit the drafts to the Standing Committee of the National Peoples Congress for deliberation.On September 18, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to strengthen the medical rehabilitation and nursing service system, focusing on grassroots levels, and to extend rehabilitation and nursing resources to communities and families to enhance the accessibility of rehabilitation and nursing services for urban and rural residents. The meeting stressed the importance of relying on technological innovation to improve the level of medical rehabilitation and nursing, developing more intelligent rehabilitation technologies and equipment, and enriching service scenarios. It also emphasized strengthening support and guarantees for medical rehabilitation and nursing, dynamically adjusting the catalog of rehabilitation medical and long-term care services, deepening price reforms for medical rehabilitation and nursing services, improving talent training policies, and continuously enhancing the attractiveness of the profession.The Russian Ministry of Agriculture stated that the supply of fuel and lubricants to agricultural producers has not been interrupted, and the situation is being continuously monitored.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

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Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.

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