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Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.

Gold Price Prediction: XAU/USD stabilizes solidly above $1,750 as DXY retreats in front of Jackson Hole

Daniel Rogers

Aug 25, 2022 14:45

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During the Asian trading session, the gold price (XAU/USD) reached a fresh four-day high of $1,756.77. Prior to the Jackson Hole Economic Symposium, the US dollar index (DXY) is experiencing a self-off, which is favorable for the precious metal. The DXY has showed a gloomy initial trading session and has fallen to approach Tuesday's low of 108.36.

 

The foreign exchange (FX) market is anticipated to continue volatile as investors receive contradictory comments from analysts regarding Jerome Powell's Jackson Hole speech. Undoubtedly, the data indicate that price pressures are close to peak, and the loss in private sector activity causes the Fed to decrease the rate at which it is increasing interest rates.

 

However, the inflation rate is above 8%, and the Fed's onerous task of raising interest rates will continue for some time.

 

In addition, investors will focus on the Core Personal Consumption Expenditures (PCE) data for the second quarter, which is anticipated to remain unchanged at 4.4%.

 

On an hourly scale, gold prices are seeking to break above the 38.2% Fibonacci retracement at $1,758.40 (set from Monday's low of $1,727.87 to August 10's high of $1,807.93). At $1,756.20, the precious gold has pierced the 200-period Exponential Moving Average (EMA). In addition, the 50-day exponential moving average (EMA) at $1,748.46 is rising, adding to the upward filters. In addition, the Relative Strength Index (14) has moved into the bullish zone of 60.00-80.00, indicating further gain.