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On February 25, DAMO Data announced that its operating revenue in 2024 was 1.044 billion yuan, a year-on-year increase of 31.49%; the net profit attributable to the parent companys owners was 362 million yuan, a year-on-year increase of 22.26%.Ukraine needs $524 billion to recover and rebuild after three years of conflict, according to studies by the World Bank, the United Nations, the European Union and the Ukrainian government.Chairman of the Japan Automobile Manufacturers Association (JAMA): We strongly hope to be able to exempt the Japan Automobile Manufacturers Association from tariffs in the United States.Chairman of the Japan Automobile Manufacturers Association (JAMA): The United States remains Japans most important export market, accounting for 6 trillion yen of Japans total exports and about 30% of total automobile exports.On February 25, the China Passenger Car Association released data on February 25. Taking January 2019 as the base period, the overall market product competitiveness index in January 2025 was 88.5, down 1.8 points from the previous month. From the perspective of the three major market segments, the SUV and MPV markets rose by 0.9 and 12.6 points respectively, while the sedan market fell by 4.3 points. In January 2025, the wholesale volume of passenger cars was 2.101 million, a slight year-on-year decrease and a sharp month-on-month decrease. Due to the early Spring Festival, many consumers completed their replacement and purchase plans before the Spring Festival in advance at the end of 2024. Therefore, the car market in January was slightly weaker than the hot rhythm of the car market in previous years. In addition, the effective sales time in January was less than 4 days, which made the overall market heat fall by 0.6 points from the previous month. Overall, the overall market product competitiveness index fell by 1.8 points from the previous month.

Gold Price Forecast: XAU / USD flirts with $1,850 support convergence; Fed's Powell, US NFP in focus

Daniel Rogers

Mar 06, 2023 14:40

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Gold price (XAU/USD) remains mostly illiquid around $1,855 as traders brace for the key data/events during early Monday in Europe. Adding filters to the XAU/USD movements could be the muddled headlines from China, as well as the US Dollar’s inaction despite a pullback in the Treasury bond yields.

 

The National Development and Reform Commission of the People's Republic of China (NDRC) recently stated that it "Will further discharge the potential for consumption," adding that China's economy is consistently improving, as reported by Reuters. Earlier in the day, market sentiment deteriorated after China's National People's Congress (NPC) annual session appeared to be a gloomy event due to its development target and geopolitical concerns.

 

Elsewhere, San Francisco Federal Reserve Bank President Mary Daly highlighted the significance of incoming data to determine how high the rates can go. Previously, Atlanta Fed President Raphael Bostic renewed concerns about the Fed’s policy pivot while Federal Reserve published a semi-annual Monetary Policy Report on Friday wherein it plainly said, “Ongoing increases in the Fed funds rate target are necessary.” In addition, the report stated that the Fed is committed to restoring inflation to 2%.

 

It should be noted that US 10-year Treasury bond yields rose to their highest levels since November 2022 in the previous week before falling to 3.95% by the end of Friday and circling back to the same level at the latest. More significantly, US two-year bond coupons increased to levels not seen since 2008 before retracting to 4.85% as of press time. That said, the S&P 500 Futures print mild gains, mirroring Wall Street’s movements amid a light sluggish start to the key week, whereas the US Dollar Index (DXY) remains depressed around 104.45, down 0.05% intraday by the press time.

 

Moving ahead, Gold traders may witness further inaction in the market as traders remain cautious before the key events including Fed Chair Jerome Powell’s Testimony, China’s inflation data and Friday’s US employment report for February.


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