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On April 3, White House aide Peter Navarro said that US President Trump’s tariffs could increase revenue by three times the size of the World War II tax increase in 1942, and could become the largest tax increase in US history.On April 3, a research report by CLSA indicated that ChinaSoft International (00354.HK)s revenue fell 1% year-on-year to RMB 16.951 billion last year, and the first disclosed AI-related revenue was RMB 957 million, accounting for 5.6% of revenue. The companys price reduction strategy has led to a decline in gross profit margin, and the main reason for the lower-than-expected net profit is a one-time impact. The bank expects the companys fundamentals to improve this year, mainly because the number of employees increased in the second half of last year. The bank expects the companys net profit to reach RMB 748 million this year, up 45.8% year-on-year, and lowered the target price from HK$7 to HK$6.5, maintaining the rating of outperforming the market.On April 3, the Australian bond market has experienced a dovish turn since the White House announced its new tariff agenda. IG market analyst Tony Sycamore said that the market has priced in an 85% chance that the Reserve Bank of Australia will cut interest rates by 25 basis points in May. Subsequent rate cuts are expected in August and November, with a cumulative rate cut of 75 basis points by November. He added that US tariffs have far exceeded expectations, increasing the likelihood of a trade war and recession in the United States. He also said that since goods from countries such as Vietnam are now effectively shut out of the United States, cheap goods are expected to flood other Asian markets.Japan’s Chief Cabinet Secretary Yoshimasa Hayashi declined to comment when asked about the possibility of retaliation against U.S. tariffs.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We believe that the recent US tariff measures may have a significant impact on the multilateral trading system, and we strongly call on the United States to exclude Japan from these measures.

Gold Price Prediction: XAU/USD Weakness Dependent on $1,920 Breakout and Fed Decision - Confluence Detector

Daniel Rogers

Jan 30, 2023 15:27

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Gold price (XAU/USD) maintains a defensive stance near $1,930, posting modest gains ahead of Monday's European session, as traders begin the crucial week including the Federal Reserve's (Fed) monetary policy and the January US employment report. China's return after a one-week holiday might bolster the cautious optimism of XAU/USD traders, as could prospects for a dovish raise from the Fed and disappointing Nonfarm Payrolls data (NFP).

 

Notably, a slower start to a pivotal week with a high economic data load also appears to underpin the Gold prices' corrective rebound from a short-term major support confluence. However, the metal's short-term movements depend on the Fed's ability to push back the dovish inclination despite the confirmation of the impending policy shift.


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