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On January 26th, at a press conference on Chongqings import and export situation in 2025, Chen Hai, Deputy Director and Spokesperson of Chongqing Customs, introduced that in 2025, despite multiple pressures and challenges, Chongqings import and export demonstrated strong resilience and vitality, achieving stable volume and improved quality, and a positive development trend. According to customs statistics, Chongqings total foreign trade import and export volume reached 800.68 billion yuan in 2025, a year-on-year increase of 12%. Among Chongqings exported products, the "new three categories" performed exceptionally well, with electric vehicles, photovoltaic products, and lithium batteries showing export growth rates as high as 73.5%.The yield on Japans two-year government bonds rose 2 basis points to 1.27%, a new high since 1996.Hyundai Motor: is evaluating a range of collaboration opportunities, including potential collaborations in the field of hydrogen energy, and taking full advantage of Canadas strengths.Hyundai Motor: We currently have no plans to establish a car manufacturing plant in Canada.On January 26th, Tim Kelleher, Head of FX Sales at the Commonwealth Bank of Australia in Auckland, stated, "This is the first time in over a decade that the Federal Reserve has conducted a currency inquiry. Theyve made threats before, but this is a very different approach than their usual practice. We are in a new system... Weve already seen a wave of anti-dollar movements. Theres also been ongoing discussion about a Plaza Accord 2.0, which, if it happens, would be significant and could signal a potential weakening of the dollar."

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.


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