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According to the latest data from the General Administration of Customs, in August 2026, China exported 6 million tons of steel plates, a year-on-year increase of 6.6%; cumulative exports from January to August reached 44.26 million tons, a year-on-year decrease of 7.9%. In August, China exported 1.93 million tons of steel bars, a year-on-year increase of 18.1%; cumulative exports from January to August reached 13.86 million tons, a year-on-year increase of 13.1%.On September 18th, it was learned from the National Bureau of Data Science that the China-ASEAN Data Cooperation Professional Committee of the World Data Organization (WDC) was established on September 17th in Nanning, Guangxi. The WDC, headquartered in Beijing, is the worlds first professional international organization dedicated to promoting data development and governance practices. Its newly established China-ASEAN Data Cooperation Professional Committee focuses on cross-border data flows, inclusive intelligent computing power, joint development of rules and standards, member ecosystem building, and industrial cluster development within ASEAN, aiming to bridge the data gap, unlock the value of data, and promote the prosperity of the digital economy. The National Bureau of Data Science stated that it will actively participate in global data governance and support the WDC in fully leveraging the professional advantages of its members in global regions and industries to pragmatically promote international data cooperation in specific sectors.On September 18th, State Street Global Advisors stated that the Bank of Japan (BOJ) is likely to adopt a cautious approach after raising its policy rate to 1.25%. Economist Krishna Bhimavarapu noted that while policy adjustments are possible at every policy meeting, Governor Kazuo Ueda may avoid explicitly committing to further rate hikes given weak household consumption and relatively moderate inflation. Strategist Masahiko Loo expects Ueda to maintain a neutral-to-hawkish stance; he pointed out that resilient economic growth, persistent inflation risks, and accommodative real policy rates all support further policy normalization. The current focus of discussion is shifting from whether the BOJ will raise rates again to what level interest rates will ultimately rise to.According to Japans Kyodo News, a meeting between the leaders of Japan and the United States is scheduled for September 22.The yield on Japans 2-year government bonds fell 4 basis points to 1.820%, while the yield on Japans 5-year government bonds fell 3 basis points to 2.265%.

XAU/USD faces barriers around $1,770 ahead of data on US inflation estimates, according to the gold price forecast

Daniel Rogers

Dec 07, 2022 14:57

In the Asian session, the gold market (XAU/USD) noticed selling action near the $1,770.00 immediate barrier. The US Dollar Index (DXY) has widened its upward trajectory above a four-day high at 105.60, putting the precious metal under pressure.

 

After a sell-off that continued for the second trading session, S&P500 futures are significantly worse, indicating that investors are currently taking a risk-averse stance. The 10-year US Treasury yields have partially recovered their losses and are currently at 3.56% as of the time of publication.

 

The market has become pessimistic due to recent indicators of a comeback in inflation following the resilience displayed by the US economy in November through services and labor demand. This has increased the possibility that the Federal Reserve (Fed) would give higher interest rate peak guidance at its monetary policy meeting next week.

 

Prior to that, however, consumer inflation predictions over the next five years took center stage. Since inflation has already shown signals of slowing, long-term inflation expectations are still anchored. The forward-inflation data had previously come in at 3%.