EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 20th - According to the China Association of Automobile Manufacturers (CAAM), from January to August, the top ten passenger car manufacturers sold a total of 4.014 million vehicles, accounting for 67.9% of total passenger car sales. Among these ten companies, SAIC Motor and Tesla saw varying degrees of sales growth compared to the same period last year, while the sales of the other companies all declined to varying degrees.On September 20th, Orient Securities Research stated that the LPR (Loan Prime Rate) for both maturities remained unchanged in September, largely in line with market expectations. The stable LPR since the beginning of the year reflects the fact that first-half GDP growth reached 4.7%, falling within the annual economic growth target range of 4.5% to 5.0%, with accelerated development in new productivity sectors, represented by high-tech manufacturing. This means that although domestic investment and consumption have weakened since the second quarter, and economic growth momentum has declined somewhat, macroeconomic policies have maintained strong resolve, and monetary policy remains in an observation period. This is the fundamental reason why the LPR remained unchanged in September. We predict that the central bank may implement policy-driven interest rate cuts later, which will lead to a follow-up reduction in the LPR. The Politburo meeting on July 30th emphasized the need to "fully leverage the effectiveness of existing policies, promptly plan and introduce practical and effective incremental policies, and increase counter-cyclical adjustments," and required "comprehensive use and timely adjustment of monetary policy tools." Considering the economic and financial situation and price trends, the possibility of a new round of incremental policies cannot be ruled out.Chinas total electricity consumption in August rose 1.7% year-on-year, unchanged from the previous month.Chinas total electricity consumption in August was 1,033.2 billion kilowatt-hours, compared to 1,040 billion kilowatt-hours in the previous month.September 20th - From January to August, total electricity consumption in China reached 7,173 billion kilowatt-hours, a year-on-year increase of 4.3%. By sector, primary industry electricity consumption was 104.6 billion kilowatt-hours, a year-on-year increase of 3.3%. Secondary industry electricity consumption was 4,529.7 billion kilowatt-hours, a year-on-year increase of 4.4%; among which, industrial electricity consumption was 4,488 billion kilowatt-hours, a year-on-year increase of 4.6%, and high-tech and equipment manufacturing electricity consumption was 845.1 billion kilowatt-hours, a year-on-year increase of 9.3%. Tertiary industry electricity consumption was 1,425.6 billion kilowatt-hours, a year-on-year increase of 7.1%; among which, charging and swapping services and internet data services consumed 114.7 billion and 69.5 billion kilowatt-hours respectively, with growth rates reaching 55.1% and 42.5% respectively. Residential electricity consumption was 1,113.2 billion kilowatt-hours, a year-on-year increase of 0.3%.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


Suggestion