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On September 20, 2026, the Ministry of Agriculture and Rural Affairs and the China Meteorological Administration issued a warning for the risk of disasters caused by continuous rain during the autumn harvest. From September 21 to 28, frequent rainfall is expected in southeastern Northwest China, eastern Southwest China, the Jianghan Plain, western Huanghuai Plain, and northern Anhui, posing a high risk of disasters during the autumn harvest. Specifically, from September 23 to 27, northeastern Sichuan, central and northern Chongqing, southeastern Shaanxi, southern Henan, northwestern Hubei, and northwestern Anhui will experience continuous moderate to heavy rain, with some areas experiencing torrential rain and localized extremely heavy rain, further increasing the risk of disasters during the autumn harvest. It is recommended that the above-mentioned areas seize the opportunity during breaks in rainfall to harvest mature crops promptly, and pay attention to ventilation, storage, drying, and storage. In areas with heavy rainfall, timely ditching and drainage should be carried out after the rain to create suitable conditions for agricultural machinery operations.On September 20th, it was reported that on September 15th, Ding Xiangqun, Secretary of the Party Committee and Director of the State Financial Regulatory Commission, met with Du Jiaqi, Chairman of the Board of Directors of AIA Group. The two sides exchanged views on the latest developments in the insurance industry and AIA Groups operations in China.September 20th - The Eighth Session of the Seventh Shenzhen Municipal Peoples Congress convened at the Civic Center on September 20th to elect the Mayor of Shenzhen Municipal Peoples Government. At 10:30 AM, the Congress held its first plenary session, approving the election procedures. At 3:00 PM, the Congress held its second plenary session, electing Li Yun as Mayor of Shenzhen Municipal Peoples Government by secret ballot.September 20th - With the Mid-Autumn Festival and National Day holidays approaching, the airfare market continues to heat up. Monitoring on September 20th revealed that popular long-haul tourist routes and return-home routes saw significant price increases the day before the Mid-Autumn Festival. On October 7th, the lowest price on the platform for a flight from Urumqi to Shanghai reached 3070 yuan, approximately 99% higher than the 1540 yuan price for a flight from Shanghai to Urumqi on September 24th, nearly doubling. The Shenzhen-Chongqing route also shows a trend of "more expensive return trips": the lowest price for a Shenzhen-Chongqing outbound flight on September 24th was 1010 yuan, while the lowest price for a Chongqing-Shenzhen flight on October 7th was 1450 yuan, a return price increase of about 44%. Current booking and forecast data indicate that this years "Double Festival" civil aviation market is showing a clear characteristic of "both volume and price increases." Flight Manager data shows that as of September 17th, the average booked domestic economy class ticket price during the 2026 Mid-Autumn Festival and National Day holidays is approximately 973.7 yuan, a year-on-year increase of 9%; the average daily passenger volume is expected to increase by 3.1% year-on-year during the same period.The China Earthquake Networks Center officially reported that a 6.2-magnitude earthquake occurred in Papua New Guinea (5.90 degrees south latitude, 146.10 degrees east longitude) at 17:17 on September 20, with a focal depth of 120 kilometers.

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

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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.