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Nasdaq futures extended gains to 0.7%, boosted by Intel (INTC.O) leading chip stocks with a 20% gain in after-hours trading.Japans corporate services price index rose 1.2% month-on-month in March, compared with 0.2% in the previous month.Japans corporate services price index rose 3.1% year-on-year in March, below the expected 3.00% and the previous reading of 2.70%.April 24th - Data released on Friday showed that Japans core consumer price index (CPI) slowed for the second consecutive month to below the central banks 2% target in March, as government fuel subsidies offset price pressures from the energy shock triggered by the conflict in Iran. Analysts expect inflation to accelerate back above the Bank of Japans target in the coming months as businesses begin to pass on rising fuel costs from the Middle East conflict. The core CPI, excluding the impact of volatile fresh food costs, rose 1.8% year-on-year in March, in line with the market median forecast. This followed a 1.6% increase in February. Another index, excluding fresh food and fuel (a better indicator closely monitored by the Bank of Japan as a measure of demand-driven price changes), rose 2.4% year-on-year in March, compared to a 2.5% increase in February.On April 24th, according to foreign media reports, most soybean oil futures contracts on the Chicago Board of Trade (CBOT) closed higher on Thursday, with only the May contract slightly lower. The benchmark contract closed up 0.1% on the day, mainly reflecting the surge in international crude oil prices and improved US soybean oil sales. Tensions in the Middle East further boosted international crude oil futures, which lifted sentiment in the Chicago soybean oil market. The US Department of Agricultures weekly export sales report showed that for the week ending April 16, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,500 tons, a 34% increase from the previous week and significantly higher than the four-week average.

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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