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On February 27, SenseTime (00020.HK) Technology announced that the number of direct individual registered users of the SenseTime Little Raccoon Family has exceeded 1 million, serving more than 300 corporate users. The final number of individual users has reached 15 million, and the daily token number has reached over 10 billion.On February 27, JPMorgan Chase released a research report stating that Ctrip Group (09961.HK)s net income in the fourth quarter increased by 23% year-on-year to 12.74 billion yuan, better than expected, and adjusted operating profit reached 2.76 billion yuan, better than expected, and adjusted earnings per share reached 4.35 yuan, better than expected. The bank expects that due to the increase in user growth in international OTA business, trip.com, etc., the sales and marketing ratio will increase and the profit margin outlook will decline, so its stock price is expected to react negatively to the fourth quarter results. The bank believes that given the strong return rate of 91% in 2024, the lack of short-term benefits brought by the adoption of GenAI and the weak profit margin outlook, investors may sell stocks to make profits after the results are announced. The bank lowered the companys earnings per share forecast for this year and next year by 4% each, and lowered its target price from HK$600 to HK$580, maintaining its overweight rating.Ukraines top commander: working together with brigades fighting to defend Ukraines Donetsk region as Russias offensive intensifies.The main contract of the Container Shipping Index (European line) narrowed its decline to 2.33% and is now reported at 1,788 points, having previously fallen by more than 6%.Futures news on February 27: 1. The trading volume of WTI crude oil futures was 706,606 lots, an increase of 44,190 lots from the previous trading day. The open interest was 1,778,090 lots, an increase of 9,291 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 143,068 lots, an increase of 21,456 lots from the previous trading day. The open interest was 175,710 lots, a decrease of 2,420 lots from the previous trading day. 3. The trading volume of natural gas futures was 551,821 lots, a decrease of 83,256 lots from the previous trading day. The open interest was 1,597,232 lots, an increase of 1,453 lots from the previous trading day.

Gold Price Prediction: XAU/USD recovers from $1,860 support amid Fed and China worries

Alina Haynes

Feb 06, 2023 15:17

截屏2023-01-19 下午3.43.28.png 

 

Gold price (XAU/USD) consolidates recent losses as it posts modest gains near $1,875 in early Monday trading, marking the first positive day in three sessions near the one-month low. In doing so, the precious metal applauds the U.S. dollar's struggle to maintain its strength and draws cues from US-China disputes in advance of this week's major events.

 

In spite of this, the US Dollar Index (DXY) remains stagnant at 103.00, despite a two-day recovery from the lowest levels since April 2022. In doing so, the dollar's measure against the six main currencies fails to justify the robust US employment report and geopolitical concerns regarding China.

 

U.S. Secretary of State Antony Blinked canceled his previously scheduled trip to Beijing in response to the weekend news reports claiming that an American military fighter jet shot down a suspected Chinese surveillance balloon off the coast of South Carolina. President of China Xi Jinping called this a "obvious overreaction" in response to the incident.

 

The same joins Friday's robust US employment report and ISM Services PMI data to test the XAU/USD bulls ahead of Fed Chair Jerome Powell's speech, scheduled for release on Tuesday.

 

S&P 500 Futures extend the previous day's fall from the greatest levels since August as of press time, trading 0.30% lower intraday near 4,140. In the same vein, US 10-year Treasury note rates have increased for three straight days, reaching 3.56 percent as of press time, marking the largest weekly increase since late September 2022.

 

It is worth mentioning that a lack of key data appears to have spurred the XAU/USD bounce from the short-term support, but Gold purchasers should stay cautious in light of the Fed's recent hawkishness and the US-China friction. The US UoM Consumer Sentiment Index for February and the University of Michigan's 5-year Consumer Inflation Predictions will also be crucial to monitor on Friday.


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