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March 19th - From January to February, national general public budget revenue reached 4,415.4 billion yuan, a year-on-year increase of 0.7%. Of this, national tax revenue was 3,639.3 billion yuan, a year-on-year increase of 0.1%; non-tax revenue was 776.1 billion yuan, a year-on-year increase of 3.4%. Breaking it down by central and local governments, central government general public budget revenue was 1,916.7 billion yuan, a year-on-year decrease of 1.7%; local government general public budget revenue was 2,498.7 billion yuan, a year-on-year increase of 2.6%.Ministry of Finance: In January and February 2026, national government fund budget expenditures totaled 1,317.4 billion yuan, a year-on-year increase of 16%. Breaking it down by central and local governments, central government fund budget expenditures were 49.7 billion yuan, a year-on-year increase of 8%; local government fund budget expenditures were 1,267.7 billion yuan, a year-on-year increase of 16.3%, of which expenditures related to revenue from the transfer of state-owned land use rights were 641.8 billion yuan, a year-on-year decrease of 1.9%.Ministry of Finance: In January and February 2026, national government fund budget revenue totaled 536.3 billion yuan, a year-on-year decrease of 16%. Breaking it down by central and local governments, central government fund budget revenue was 86.2 billion yuan, a year-on-year increase of 6.7%; local government fund budget revenue was 450.1 billion yuan, a year-on-year decrease of 19.2%, of which revenue from the transfer of state-owned land use rights was 354.7 billion yuan, a year-on-year decrease of 25.2%.Ministry of Finance: Property tax revenue reached 83.1 billion yuan in January-February 2026, up 11.6% year-on-year. Deed tax revenue reached 65 billion yuan, down 11.1% year-on-year. Urban land use tax revenue reached 35.9 billion yuan, up 3.6% year-on-year.Ministry of Finance: In January and February 2026, national general public budget expenditures totaled 4,670.6 billion yuan, a year-on-year increase of 3.6%. By central and local governments, central government general public budget expenditures were 547.6 billion yuan, a year-on-year increase of 4.5%; local government general public budget expenditures were 4,123 billion yuan, a year-on-year increase of 3.5%.

Gold Price Forecast: XAU/USD struggles around $1,800 ahead of ISM Services PMI data

Daniel Rogers

Dec 05, 2022 12:04

 截屏2022-09-15 下午3.06.36.png

 

In the early Tokyo session, the gold price (XAU/USD) is under intense pressure to overcome the round-level barrier of $1,800.00. The precious metal is highly projected to display additional gains ahead and may extend towards a fresh three-month high at $1,824.63 as the bullish US Nonfarm Payrolls (NFP) failed to fade the risk appetite theme.

 

The US Dollar Index (DXY) is seeking to re-test the previous week's low around 104.40 as market investors believe that good employment growth in November is inadequate to offset forecasts of a slowdown in the Federal Reserve's interest rate hike pace (Fed). In addition, rates on 10-year US Treasuries have fallen further below 3.50 percent and are receiving no intermediate buffer.

 

Monday's publication of United States ISM Services data is the economic indicator that investors are anticipating for additional guidance. The expected economic data is 55.6, up from 54.4 in the previous release. Apart from that, the catalyst which will effect Gold prices is the ISM Services New Orders Index data. The economic statistics is anticipated to rise to 58.5, which shows healthy demand from households and may provide a cushion against future inflation.

 

After a drop to roughly its November 15 high of $1,777.32, the hourly demand for gold has increased significantly. The yellow metal is aiming for a three-month high of approximately $1,805.00. The Gold price has surpassed the 20-period Exponential Moving Average (EMA) at $1,795.90 after sensing support from the 50-period EMA near $1,790.00, indicating a shift in the short-term trend toward the upside.

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