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On July 24th, Shanghai Auntie (02589.HK) issued a positive profit forecast, expecting to record a profit of approximately RMB304 million to RMB325 million for the first half of the year, representing an increase of approximately 50% to 60% compared to a profit of RMB203 million in the same period last year. The Group expects to record an adjusted profit (non-IFRS accounting standards) of approximately RMB331 million to RMB356 million for the reporting period, representing an increase of approximately 36% to 46% compared to an adjusted profit of RMB244 million in the same period last year.Schlumberger (SLB.N): The commodity environment is expected to remain range-bound, which is favorable for upstream investment.Schlumberger (SLB.N): Free cash flow is expected to be higher in the second half of 2026 than in the first half.Schlumberger (SLB.N) expects its fourth-quarter revenue to grow by 5% year-over-year.July 24th - PMI data showed that U.S. business activity expanded at its fastest pace in eight months, with strong domestic service sector demand offsetting the impact of slowing factory production, increased supply chain delays, and rising costs. The preliminary reading of the S&P Global Services PMI for July rose to 53.6, the highest level since November 2025, driven by demand in the hospitality and other service sectors boosted by the World Cup and July 4th Independence Day celebrations. The preliminary reading of the S&P Global Manufacturing PMI for July fell to 53.8, the lowest level since March. Chris Williamson, chief business economist at S&P Global Market Intelligence, said, "Supply chain delays continued to worsen in July, accompanied by renewed price pressures, constraining economic growth and suppressing demand. Recent events in the Middle East will only further exacerbate concerns about supply chains and prices, increasing downside risks to the near-term economic outlook, suggesting that the recovery in July may not be the beginning of an improving trend."

Gold Price Prediction - Prices Consolidate Over Juneteenth

Daniel Rogers

Jun 21, 2022 11:19

 截屏2022-06-15 下午4.05.18_1024x576.png

 

Gold prices moved sideways. Because of the Juneteenth holiday, the bond and commodities futures markets were closed, which caused the dollar to weaken. Given the large number of rate rises currently built into the interest rate futures market, the yellow metal's movement will be reliant on the dollar.

 

Gold is valued in dollars, and the lack of movement in the greenback resulted to a directionless yellow metal. The most important news last week seems to be central bank action.

 

Japan's central bank bought a record amount of Japanese government bonds this week to preserve its 0.25 percent restriction on the 10-year note, despite rate increases from both the Swiss and British banks. With the purchase of 81 billion dollars' worth of new bonds, the BOJ provided a stimulant to the Japanese economy.

 

The Swiss National Bank boosted interest rates by 50 basis points, driving the Franc up by 2 percent against the greenback.

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