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European Central Bank: As of last week, the European Central Bank held €1.43 trillion in bonds under the Pandemic Emergency Purchase Programme (PEPP).European Central Bank: Foreign exchange reserves decreased by 600 million euros to 329.4 billion euros.On December 30th, the first plenary meeting of the 8th Risk Management Professional Committee of the Securities Association of China was held in Beijing. The committee members unanimously agreed that they should closely follow the strategic deployment of the financial sector in the "15th Five-Year Plan," earnestly carry out various tasks related to risk prevention, strengthening supervision, and promoting high-quality development, and continuously improve the self-regulatory rules system. They should steadily promote the revision of risk management systems in light of new trends and changes in market and industry development, establishing a comprehensive, clearly structured, and efficient self-regulatory rules system; strengthen risk prevention and control in key areas; focus on areas with frequent industry risks, identify difficulties in risk management, summarize and promote advanced experiences, and promote the overall improvement of the industrys risk management capabilities. Going forward, the Association will further leverage the committees functions to promote the continuous improvement of the industrys comprehensive risk management system, guide securities companies to transform towards proactive risk control, improve the industrys risk management level, and contribute to the high-quality development of the securities industry and capital market during the "15th Five-Year Plan" period.On December 30th, Youbang Ceiling announced that its shares will resume trading on December 31st, 2025. The companys actual controllers, Luo Lianqin and Shi Shenxiang, are planning a change of control, which may result in a change of the companys controlling shareholder and actual controller. During the trading suspension, all relevant parties actively promoted the transaction, but as the overall plan is still under negotiation, the parties have not yet signed a formal agreement. On December 30, 2025, shareholders Shi Shenxiang, Luo Lianqin, and Shanghai Changsheng Technology signed a Share Transfer Agreement with Shanghai Mingsheng Lianhe Intelligent Technology. The agreement stipulated that Luo Lianqin would transfer 10,610,100 shares (8.20% of total share capital) to Mingsheng Intelligent; 11,650,300 shares (9.00% of total share capital) to Shi Qiming; 7,760,400 shares (5.99% of total share capital) to Wuhan Mingshuwan; and Changsheng Technology would transfer 8,800,600 shares (6.80% of total share capital) to Mingsheng Intelligent. Following this share transfer, Mingsheng Intelligent intends to issue a tender offer to all shareholders other than the transferees for 19,430,100 shares (15.01% of total share capital).U.S. Redbook retail sales annualized for the week ending December 27 were 7.6%, compared to 7.2% previously.

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.


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