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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Gold Price Prediction: After a chaotic gyration above $2,020, the XAU/USD pair stabilizes as investors watch the crucial US NFP report

Alina Haynes

Apr 06, 2023 11:49

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In the early Tokyo session, the Gold price (XAU / USD) is exhibiting lackluster performance above $2,020.00. Wednesday's publication of lackluster employment data in the United States caused a wild swing in the price of precious metals. Investors have transferred their focus to the publication of the US Nonfarm Payrolls (NFP) data, resulting in a sideways Gold price.

 

S&P500 continued its downward trend on Wednesday as a weaker Services PMI bolstered recessionary indicators in the U.S. economy, indicating bearish market sentiment. The US Dollar Index (DXY) rebounded strongly from its new monthly low of 101.40 but encountered resistance near 102.00. Despite the publication of unfavorable US Services PMI and labor market data, the USD Index received significant bids.

 

The US ISM Services PMI for March decreased to 51.2 from 54.5 and 55.1 in the previous release. As a result of the Federal Reserve's decision to raise interest rates, a decline in the Service sector is causing growing concern. (Fed). Additionally, households struggle to endure the burden of high inflation. The New Orders Index, which indicates future demand, fell sharply to 52,2 from 57,6 and the previous reading of 62.6. It is very encouraging that the US Services PMI range did not fall below 50, as this would have indicated a contraction.

 

Following the release of disappointing US Automatic Data Processing (ADP) Employment data, investors are eagerly anticipating the release of US NFP, which will shed more light on the state of the labor market. It is anticipated that the unemployment rate will remain unchanged at 3.6%. And Average Hourly Earnings would decline to 4.3% from 4.6% previously reported.


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