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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.5 occurred near Liunan District, Liuzhou City, Guangxi Province at 07:41 on May 18. The final result is subject to the official rapid report.On May 18th, according to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) continued to decline in the week ending May 15, 2026, with the benchmark contract closing down 0.6%, mainly reflecting lower prices for Chicago soybeans and other vegetable oils, as well as weak soybean oil export sales. However, international crude oil futures rebounded, and soybean oil inventories were lower than expected, providing a bottom support for the market. This week, Malaysian palm oil fell 1.8%, and Canadian canola fell 2%; Brent crude rose 7.87%. The soybean oil/fuel oil spread was 152.37 cents, compared to 157.83 cents a week earlier, reflecting continued improvement in biofuel margins. Calculations based on the USDAs weekly crush report showed that for the week ending May 8, 2026, the US soybean crush margin was $4.89 per bushel, down 7.39% from a week earlier. According to the monthly crush report from the National Oilseed Processors Association (NOPA), soybean oil stocks stood at 1.947 billion pounds at the end of April, down 4.5% from March, slightly below market expectations, but up 27.5% from the same period last year.According to foreign media reports on May 18th, commodity funds were net sellers of CBOT corn, wheat, and soybean futures contracts, while net buyers of CBOT soybean meal and soybean oil futures contracts on Friday. Specifically, they were net sellers of 12,000 soybean futures contracts.The UKs Rightmove average house asking price index rose 1.2% month-on-month in May, compared with 0.80% in the previous month.Australian Treasurer Charles Chalmers has issued orders to six shareholders to divest their stakes in Northern Minerals. This decision is entirely in line with the recommendations of the Treasurer and the Foreign Investment Review Board, aimed at protecting national interests and ensuring compliance with Australias foreign investment framework.

Gold Price Prediction: XAU / USD is poised for action after moving sideways around $1,820 ahead of the US PMI

Alina Haynes

Feb 28, 2023 11:32

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In the Asian session, the Gold price (XAU / USD) is exhibiting a sideways auction below $1,820.00. The precious metal is anticipated to recover as investors transfer their attention to the United States ISM Manufacturing PMI (Feb), which is scheduled for release on Wednesday.

 

Investors should be aware that the US Manufacturing PMI has contracted for three consecutive months. The term "ecosystem" refers to a group of people who work in the construction industry. The US Manufacturing PMI is anticipated to be 48.0, down from the previous release of 47.4.

 

S&P500 futures have added to Monday's recovery in the Asian session, reflecting an improvement in market participants' risk appetite. The volatility of the US Dollar Index (DXY) is anticipated to decrease until the publication of the US ISM Manufacturing PMI data. The 10-year US Treasury yields fluctuate around 3.92 percent.

 

In the meantime, the resiliency observed in consumer expenditure (Feb) in the United States has compelled the street to increase their projections for future interest rates. Considering the resilience of demand-driven inflation, a note from Bank of America (BofA) suggests Fed chair Jerome Powell announce three additional rate increases this year. According to the BofA, the terminal rate will exceed 6%, and recession is more likely than a gentle landing.


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