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On October 24th, ING economist Peter Vanden Houte noted that the Eurozones composite PMI, which hit a 17-month high, indicated continued economic growth and little sign of deflationary pressure, predicting that the European Central Bank will maintain current interest rates. He explained that while input costs have eased, inflation signals are mixed: output prices are rising at their fastest pace in seven months, manufacturing saw its first price increase in six months, and service prices saw a more pronounced increase than in September. "While energy prices will drag down inflation in the coming months, the PMI data do not reveal much underlying deflationary pressure," Houte said, adding that these factors suggest interest rates will remain stable for some time to come.On October 24th, Shannon Chip Technology Co., Ltd. issued an unusual trading announcement, stating that the cumulative deviation of the closing price of the companys stock exceeded 200% for 30 consecutive trading days (September 5, 2025, to October 24, 2025). According to the relevant regulations of the Shenzhen Stock Exchange, this constitutes a case of severe abnormal stock trading fluctuations. The companys main business is chip distribution and product research and development. The company is aware of recent market reports of memory chip price increases. The company and its subsidiaries are currently operating normally, with no major changes in their core business or fundamentals.Market news: The European Commission said that Facebook, Instagram and others can take remedial measures.Market news: If the European Commissions view is confirmed, the company may be fined up to 6% of its global annual turnover.Market news: The European Commission preliminarily determined that Instagram and Facebook, both owned by Meta Platforms (META.O), have failed to fulfill their obligations to regulate illegal content.

Forecast for Gold Price: XAU/USD bulls want confirmation from $1,905

Daniel Rogers

Feb 06, 2023 15:36

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Gold price (XAU/USD) recovers from monthly low, grinding higher at intraday highs near $1,878 as the European session begins on Monday. In doing so, the yellow metal reverses a two-day slump in the face of a sluggish US Dollar, negative sentiment, and aggressive Fed sentiment.

 

The positive US jobs report and ISM Services PMI on Friday rekindled speculation that the Federal Reserve (Fed) had leeway to raise interest rates. However, the US shooting of a Chinese balloon and the cancellation of US Secretary of State Antony Blinken's visit to Beijing weigh on the market's risk profile. In the same vein, China warned not to exacerbate the delicate situation and described the incident as a "obvious overreaction."

 

The US Dollar Index (DXY) stays passive despite a comeback in US Treasury bond yields and slight losses in stock futures. The cause may be the DXY bull's hesitation ahead of Fed Chair Jerome Powell's speech on Tuesday.


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