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On July 16, U.S. Trade Representative Greer stated on Thursday that as the two sides continue negotiations on a trade agreement after months of talks, the U.S. is demanding more action from Vietnam on non-tariff barriers, economic security cooperation, and intellectual property. He said, "If we are to export some high-tech equipment to Vietnam, they need to align with us on export controls and other matters." "We want other countries to lower tariffs, eliminate non-tariff barriers restricting U.S. exports of goods and services, and strengthen cooperation in areas such as economic security. As for intellectual property standards, we want them to also adhere to the rules our companies follow." Vietnamese officials are holding a new round of negotiations in Washington this week, hoping to reach a trade agreement amid three U.S. investigations into their trade practices. Trade negotiations between the two countries have stalled due to U.S. demands for stricter rules of origin, stronger measures to prevent transshipment, and disagreements on market access and non-tariff barriers. Trump has threatened a 40% tariff on goods deemed transshipped, but the definition has not yet been determined.The Bank of Korea: Inflationary pressures will continue to rise, but are expected to remain above the target level.Tokyo Electron: Collaborating with NVIDIA (NVDA.O) to create digital transformation solutions using NVIDIA Agent Toolkit and the open robotics development platform NVIDIA Isaac.On July 16th, the National Healthcare Security Administration released the "2025 National Healthcare Security Development Statistical Bulletin." The bulletin shows that in 2025, 259.5805 million people nationwide participated in maternity insurance, an increase of 6.5854 million from the previous year, representing a growth of 2.6%. In 2025, 35.7381 million people received various maternity insurance benefits, with maternity insurance fund expenditures totaling 139.381 billion yuan. In 2025, the total amount of medical assistance nationwide reached 79.424 billion yuan, with the medical assistance fund subsidizing 76.6647 million people to participate in basic medical insurance. Assistance funds were further adjusted towards outpatient and inpatient assistance, with 199.156 million outpatient and inpatient assistance provided throughout the year. The national average inpatient assistance and outpatient assistance were 1273 yuan and 86 yuan respectively.The Peoples Bank of China (PBOC) announced today that it conducted 626 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 626 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

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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