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On July 25th, Trip.com issued an announcement regarding its sincere acceptance of the administrative penalty decision from the State Administration for Market Regulation: "Today, we received the Administrative Penalty Decision from the State Administration for Market Regulation. We sincerely accept and resolutely comply with this decision, and will strictly adhere to the regulatory requirements, systematically implementing all rectification measures to ensure their effective execution. We will take this penalty as an opportunity to deeply reflect on our actions, reform ourselves, resolutely abandon inefficient involution competition, and steadfastly pursue high-quality development. We will earnestly fulfill our primary responsibility to maintain fair competition in the industry, paying greater attention to the overall interests of our partners, consumers, and all sectors of society, and are committed to building a symbiotic, harmonious, and healthy cultural tourism ecosystem. Looking to the future, we will always adhere to the bottom line of compliant operation, improve our long-term governance mechanism, earnestly fulfill our corporate social responsibility, and contribute our due share to building my country into a tourism powerhouse."July 25th - The latest epidemic report released by the Ministry of Health of the Democratic Republic of Congo (DRC) on the 24th shows that the cumulative number of confirmed cases of Ebola in the country has risen to 2,905, with 1,269 deaths. The report states that the significant increase in confirmed cases and deaths is mainly due to the DRC health authorities completing a unified calibration of regional and national databases on the 22nd, adding some previously uncounted cases. The report shows that as of the 22nd, a total of 722 patients were receiving isolation or hospitalization treatment, and a total of 519 cases have recovered.According to the Associated Press, the U.S. military said on Friday that it fired on another merchant ship attempting to break its blockade of Iranian ports. The U.S. military rendered the oil tanker M/T Lavine unable to navigate in the Gulf of Oman.On July 25, the State Administration for Market Regulation (SAMR) imposed administrative penalties on Trip.com Group Co., Ltd. for abusing its dominant market position and engaging in monopolistic practices, with fines and confiscations totaling 5.179 billion yuan. SAMR will supervise Trip.com to conduct a comprehensive rectification, publicly disclose rectification measures, accept public supervision, effectively protect the legitimate rights and interests of hotel operators and consumers, maintain a market order of quality and fair pricing, and promote industry innovation and healthy development.UBS lowered its target price for T-Mobile US (TMUS.O) from $255.00 to $235.00.

Forecast for the price of gold: XAU/USD dips below $1,790 as DXY continues its comeback, Michigan CSI targeted

Daniel Rogers

Aug 11, 2022 12:00

 截屏2022-08-10 上午11.47.00_1024x576.png

 

After losing the crucial support level of $1,788.00 in the Asian session, the price of gold (XAU/USD) has fallen to little under $1,785.00. After reaching a new monthly high on Wednesday at $1,807.96, the precious metal has begun a healthy corrective phase.

 

Investors are reducing their holdings of gold after realizing that while a single month's lower US Consumer Price Index (CPI) can temper the Federal Reserve's (Fed) hawkish direction, it cannot eliminate the likelihood of a rate hike in September. It should be noted that the US CPI came in at 8.5%, which was lower than expected and the previous release's 8.7% and 9.1%, respectively.

 

The US dollar index (DXY), meanwhile, has continued to recover after a confident pullback move, reaching a level close to 105.40. Currently, market investors are concentrating on the next US Michigan Consumer Sentiment Index (CSI), which is scheduled to release on Friday. From the previous release of 51.5, the sentiment data is anticipated to increase to 52.2. Consumer confidence is predicted to increase steadily after falling to 50 for the first time in the past 20 years, according to the data.

 

The cushion of the lower part of the Rising Channel, which was established on a four-hour scale, has been given up by the gold price, which is now at $1,788.00. The upper part of the aforementioned chart pattern is drawn from the high of July 22 at $1,739.37, and the lower part is drawn from the low of July 27 at $1,711.55.

 

The 50- and 200-period Exponential Moving Averages (EMAs) at $1,768.90 add to the upward filters by forming a golden cross. Although the Relative Strength Index (RSI) has moved into the 40.00–60.00 zone, indicating a minor correction, 40.00 is expected to provide support.


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