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On January 15, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Canadian Foreign Minister Anand in Beijing. Wang Yi stated that Prime Minister Carneys visit to China marks the first visit by a Canadian prime minister in eight years, and is of pivotal and symbolic significance for bilateral relations. The two leaders will hold meetings and talks, which he believes will open new prospects for bilateral relations. China is willing to strengthen communication with Canada, enhance trust, eliminate interference, deepen cooperation, and promote the steady, solid, and sound development of bilateral relations under the new circumstances. Wang Yi stated that both sides should view each other rationally, amicably, and inclusively, handle issues with mutual respect, focus on the cooperation agenda, release positive messages, provide positive expectations for the development of bilateral relations, inject more confidence, and jointly build a new type of strategic partnership between China and Canada. Anand stated that the new Canadian government attaches great importance to its relations with China. Prime Minister Carney looks forward to in-depth communication and exchanges with Chinese leaders during this visit, clarifying the direction of bilateral relations, restarting dialogue in various fields, promoting more mutually beneficial outcomes, strengthening coordination and cooperation on multilateral affairs, and further developing the strategic partnership between the two countries.A Reuters poll showed that 52% of economists said the risk of the Bank of Japan falling behind the inflation curve was neither high nor low.A Reuters poll showed the median forecast for the Bank of Japans interest rate peak at 1.50%, up from 1.00% in a February 2025 survey.A Reuters poll showed that 60% of economists expect the Bank of Japan to raise interest rates once in 2026, while 31% expect two rate hikes.A Reuters poll showed that 97% of economists (65 out of 67) expect the Bank of Japan to keep interest rates unchanged until March.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.

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