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On August 15th, a 5.0 magnitude earthquake struck Granada province in southern Spain. Local authorities stated that no casualties have been reported. The Andalusian regional government has activated its emergency response plans early warning phase to prepare for potential secondary disasters and aftershocks. Previously, strong tremors were felt in the affected area and surrounding provinces, prompting some residents to evacuate outdoors. Emergency services subsequently received multiple reports of minor cracks in buildings and falling debris, and safety inspections and damage assessments were rapidly launched after the earthquake.Irans Communications Minister: More than 500 telecommunications sites were attacked during the war, and some facilities were hit again after being repaired and service restored.On August 15th, it was announced that the 16th issue of Qiushi magazine, to be published on August 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Improving Disaster Prevention, Mitigation, and Relief Capabilities." The article emphasizes that my country has a vast territory, complex geography, and diverse climate, making it prone to frequent natural disasters. Since the 18th CPC National Congress, the CPC Central Committee has consistently treated disaster prevention, mitigation, and relief as a major issue concerning the safety of the people and national security, making numerous deployments in areas such as conceptual transformation, institutional reform, system construction, and capacity building. It has led the vast number of cadres and the masses to overcome a series of major natural disasters, minimizing casualties and property losses to the greatest extent possible, with achievements recognized worldwide. To effectively carry out disaster prevention, mitigation, and relief work, it is essential to uphold the Partys overall leadership, adhere to the principle of putting people and their lives first, respect the laws of nature, prioritize prevention, persist in reform and innovation, maintain a systematic approach, and uphold social co-governance. These valuable experiences must be upheld and effectively utilized, and continuously enriched and developed in light of new realities.August 15th - According to the Ministry of Emergency Management, affected by Typhoon Dolphin (No. 13 of this year) and recent heavy rainfall, Taihu Lake has experienced significant basin-wide flooding. It is predicted that the water level of Taihu Lake will continue to rise slowly in the later period. From August 15th to 16th, parts of eastern and southern Zhejiang Province will experience heavy rain, with some areas experiencing torrential rain. In accordance with the "National Flood and Drought Relief Emergency Plan" and relevant regulations, the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management decided to upgrade the flood control emergency response for Jiangsu Province from Level IV to Level III at 12:00 on August 15th, and activate a Level IV flood control emergency response for Zhejiang Province.On August 15th, Mexican President Jacques Sinbaum stated at a morning press conference on August 14th that the US decision to revoke the visa of the son of former Mexican President López Obrador was politically motivated and constituted interference in Mexicos internal affairs. Sinbaum emphasized that Mexico must remain steadfast in the face of such events, and that Mexico and the US should maintain a mutually respectful bilateral relationship. In fact, the US revoked the visas of at least six Mexican ruling party officials in 2026 alone. Simultaneously, citing involvement in drug trafficking to the US, the US requested the extradition of four current governors, mayors, and members of parliament, as well as six former officials, to the US for trial. The Mexican government rejected the US request, citing insufficient evidence from the US.

Forecast for the price of gold: XAU/USD eases below the $1,804 barrier as Fed hawks back off due to weaker US inflation

Alina Haynes

Aug 11, 2022 11:58

 截屏2022-08-10 上午11.45.08_1024x576.png

 

US inflation-driven gains in the price of gold (XAU/USD) are fading as the metal declines to $1,790 on Thursday during the opening Tokyo session. The recent decline in the price of precious metals may be related to conflicting worries about the US Federal Reserve's (Fed) upcoming actions as well as Sino-American friction.

 

On Wednesday, the US Consumer Price Index (CPI) fell to 8.5% YoY in July, below the 8.7% consensus and the 9.1% reading from June. According to Reuters, US President Joe Biden stated on Wednesday that there are some indications that inflation may be decreasing after the US released its inflation data. In the coming months, there may be more challenges for us to overcome, Biden continued. US President Biden continues, "We still have work to do, but we're on track."

 

Following the CPI report on Wednesday, traders of futures linked to the Fed's benchmark interest rate reduced their bets on a third consecutive 75-basis-point raise at its policy meeting on September 20-21 and now see a half-point increase as the most likely scenario, according to Reuters.

 

Neel Kashkari, president of the Minneapolis Fed, recently stated that the Fed is "far, far away from declaring success" on inflation. Additionally, the decision-maker stated that he hasn't "seen anything that changes" the need for the Fed to raise its policy rate to 3.9% by year's end and to 4.4% by the end of 2023. Charles Evans, president of the Chicago Fed, said in another place that a recession would likely require unfavorable circumstances to occur. Also labeling inflation "unacceptably" high, Fed's Evans

 

Additionally, according to sources cited by Reuters, US President Biden is reconsidering his China tariff policy in light of Taiwan's response, which put the XAU/USD bulls on the defensive.

 

S&P 500 Futures print modest gains near 4,220 by press time against this backdrop after Wall Street rose and US Treasury yields were largely unchanged the day prior.

 

Moving on, the monthly Producer Price Index (PPI) for July and the weekly US Jobless Claims numbers may amuse gold traders. However, in light of recent risk-negative headlines, special focus should be placed on the qualitative variables.

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