EUR/USD 1.14257
0.125%
Gold 4126.03
-0.093%
Oil 87.541
1.921%
USD/JPY 163.068
-0.044%
GBP/USD 1.33876
0.099%
GBP/JPY 218.314
0.055%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 23, the official WeChat account of Guangdong Provincial Bureau of Statistics released data showing that, according to the unified accounting results for regional GDP, Guangdong achieved a GDP of 7,228.105 billion yuan in the first half of the year, a year-on-year increase of 4.5% at constant prices. Specifically, the added value of the primary industry was 224.894 billion yuan, an increase of 3.8%; the added value of the secondary industry was 2,732.761 billion yuan, an increase of 4.7%; and the added value of the tertiary industry was 4,270.45 billion yuan, an increase of 4.5%.July 23 – The "15th Five-Year Plan for the Revitalization and Development of Traditional Chinese Medicine" was released today, comprehensively outlining the work plan for traditional Chinese medicine during the 15th Five-Year Plan period. The plan clarifies the guiding principles, development goals, and indicators for comprehensively promoting the development of traditional Chinese medicine during this period. The plan proposes that by 2030, a more complete traditional Chinese medicine service system covering the entire population and the entire life cycle will be established; new breakthroughs will be achieved in the prevention and treatment of major diseases using traditional Chinese medicine; the quality of grassroots services will be improved and upgraded; basic research capabilities will be significantly enhanced; the innovation and creativity of the traditional Chinese medicine industry will be greatly strengthened; and the cultural and international influence of traditional Chinese medicine will be further enhanced. The revitalization and development of traditional Chinese medicine will reach a new level, ensuring that everyone has access to traditional Chinese medicine services.On July 23, according to Qichacha APP, Chengdu Jisu Engine Technology Co., Ltd. was recently established, with a business scope including natural science research and experimental development; engineering and technology research and experimental development; and agricultural science research and experimental development. Qichachas equity penetration analysis shows that the company is indirectly wholly owned by Douyin Co., Ltd.July 23 – Mizuho Securities economist Yusuke Matsuo stated that Bank of Japan Governor Kazuo Ueda is expected to reiterate his stance of seeking further interest rate hikes at next weeks press conference, but this is unlikely to reverse the yens weakening trend. "The market has largely priced in the Bank of Japans expectation of raising interest rates every six months, so such a statement alone is unlikely to significantly boost the yens exchange rate. Given market expectations that the central bank will clarify the timing and magnitude of the next rate hike, any stance interpreted as dovish could exacerbate the yens weakness in an environment of overall dollar strength." The market widely expects the Bank of Japan to keep its policy rate unchanged at 1% next week to assess the impact of the previous rate hike.On July 23, the China Federation of Logistics and Purchasing released the "2026 Digital Procurement Development Report." According to the report, the penetration rate of digital procurement among Chinese enterprises continues to increase, creating conditions for full-cycle digital management from bidding and tendering to procurement and contract fulfillment. Overall, my countrys total digital procurement volume reached 23.2 trillion yuan in 2025, with a digital penetration rate of 11.8%, an increase of 0.3 percentage points from the previous year. Since 2022, the penetration rate of digital procurement has increased year by year. Enterprise surveys show that in terms of large-scale models and intelligent agent applications, AI applications in 20 scenarios across eight stages of bidding and tendering are gradually being implemented, and the penetration rate of AI applications in procurement e-commerce exceeds 50%.

Gold is trapped below $1750, the dollar is rising, and yields are rising

Haiden Holmes

Aug 23, 2022 11:08

107.png


Gold prices rose somewhat on Tuesday after seven straight sessions of losses, but remained under pressure as increased expectations of a hawkish Federal Reserve boosted the dollar and Treasury yields.


As of 20:39 ET, spot gold was up 0.1% to $1,738.52 per ounce, while gold futures were up 0.2% to $1,751.55 per ounce (00:39 GMT). Expectations that the Fed will continue to hike interest rates at a quick pace have pushed traders into the dollar over the last seven sessions, causing both currencies to fall.


The dollar index fell slightly on Tuesday, but it was still trading at six-week highs. The dollar was mainly boosted by Fed members' hawkish views last week, which signaled that the central bank had no plans to reduce the pace of interest rate hikes.


On Monday, 10-year US Treasury yields jumped by more than 1% and reached a one-month high.


Fed Chair Jerome Powell is set to speak at the Jackson Hole Symposium on Friday, when he is expected to debunk suspicions that the Fed is planning to go dovish.


Softer-than-expected US inflation numbers for July fueled speculation that the Fed may scale back its interest rate hikes beginning in September. However, signs of a strong labor market and hawkish comments from Fed members have dampened this optimism.


Traders are split about evenly between a 50 basis point increase and a 75 basis point increase at the Fed's upcoming meeting.


Gold has given up the majority of its gains for the year as a result of the Fed's four rate hikes to combat out-of-control inflation. The yellow metal has greatly trailed the US inflation rate in 2022.


Copper prices rose little among industrial metals as the world's top importer, China, announced fresh stimulus measures.


Copper futures increased 0.2% to $3.6620 per pound.


On Monday, the People's Bank of China slashed interest rates for the second week in a row, indicating that Beijing is likely to pursue additional economic stimulus measures.


A stimulus-driven revival in Chinese industrial activity might boost copper demand, benefiting prices.

Suggestion