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On January 11, Iranian President Pezechzian stated in a televised interview that the government endorses peaceful protests and considers dialogue with protesters its duty, expressing its willingness to meet with all protest groups in the country. Pezechzian stated that despite facing various sanctions, the government will overcome these crises, but opposes violence and "premeditated murder."On January 11th, US President Trump posted a statement saying that for years, Cuba has relied on Venezuelas vast oil and financial resources to function. In return, Cuba provided "security services" to Venezuelas two previous dictators—but all of that is coming to an end! Last weeks US-led attacks have killed most of the "Cubans," and Venezuela no longer needs the protection of these thugs and blackmailers who have held it hostage for years. Now Venezuela has the worlds most powerful military force—the United States—to protect them, and we will fulfill our duty to safeguard them. There will be no more oil and money flowing to Cuba—zero flow! I strongly urge (Cuba) to reach an agreement quickly, lest it be too late.US President Trump: For years, Cuba has relied on large amounts of oil and money from Venezuela to function. But now there will be no more oil and money flowing to Cuba. I strongly urge them to reach an agreement quickly, lest it be too late.On January 11, South African President and African National Congress (ANC) President Cyril Ramaphosa stated on the 10th that 2026 is a "crucial year" for South Africa to achieve development in areas such as improving local government services and promoting economic transformation. Speaking at the ANCs 114th anniversary celebration in Rustenburg, North West Province, Ramaphosa said that South Africa is currently facing numerous domestic and international challenges, with urgent needs for improvement in areas such as government services, governance capacity, and economic growth. Regarding the current international situation, Ramaphosa reiterated South Africas firm support for the people of Venezuela and other countries in safeguarding their national sovereignty.On January 11th, it was reported that on the morning of January 7th, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Bureau of Data Science and Technology, chaired a symposium on data property rights registration. At the meeting, Jiang Ying, President of the Beijing Internet Court, Professor Chang Pengao of Peking University, officials from data management departments of Jiangsu Province, Hangzhou City, Qingdao City, and Shenzhen City, and representatives from companies such as China Mobile, China Southern Power Grid, Beijing International Big Data Exchange, Tencent Group, Haitian Ruisheng, and Taiyi Technology offered their opinions and suggestions on improving the data property rights registration system. Establishing a data property rights registration system is an important measure to implement the data property rights system. The National Bureau of Data Science and Technology will further study and learn from the experiences and practices of registration systems in other fields, continuously absorb opinions and suggestions from all sectors of society, and innovate to establish a registration system adapted to the characteristics of data, so as to better promote the circulation and use of data and release the value of data elements. The main officials from the Policy and Planning Department and the Data Resources Department of the National Bureau of Data Science and Technology attended the meeting.

In anticipation of the US PMIs and NFP, the gold price is expected to struggle at $1,760 (XAU/USD)

Daniel Rogers

Aug 01, 2022 11:48

 截屏2022-07-29 下午5.19.51_1024x576.png

 

Even after recovering from the intraday low and falling for the first time in four days, the price of gold (XAU/USD) is still under pressure as buyers pause at the one-month top. Despite this, the price of the yellow metal recently increased to $1,763 after hitting a new intraday low of $1,760 on Monday during the Asian session.

 

The recent decline in the quotation may have been brought on by the market's apprehensive mood ahead of the crucial US jobs data for July as well as by the latest Sino-American spat. The hawkish Fedspeak and Friday's positive prices of the Fed's favored inflation indicator also have an impact on the price of XAU/USD.

 

US House Speaker Nancy Pelosi starts her trip to Asia, although her stop in Taiwan isn't listed on the itinerary Beijing's warnings may be to blame for this. The Financial Times said that six people who were acquainted with the Chinese warnings said they were much more severe than the threats Beijing has previously made when it disagreed with US actions or policy on Taiwan (FT).

 

Nevertheless, the favored inflation indicator of the Fed, the US Core Personal Consumption Expenditures (PCE) Price Index, increased to 4.8 percent YoY for June from 4.7 percent in May. Niel Kashkari, president of the Minneapolis Fed, then told the New York Times (NYT) that the Fed is still far from stopping rate increases. "I think raising rates by half a point at upcoming Fed meetings looks feasible," the policymaker continued.

 

However, it should be noted that the recent decline in US Treasury rates and better stock markets seem to have impacted on the US dollar, favoring the price of gold. Additionally, the "technical recession" of the US and remarks by US Federal Reserve (Fed) Chairman Jerome Powell emphasising data dependence and neutral rates supported the rebound of gold during the past two weeks.

 

The US Treasury rates maintain a recent dip around 2.66 percent, up two basis points, while the S&P 500 Futures print just slight losses among these manoeuvres (bps).

 

Moving on, the US ISM Manufacturing PMI for July, which is predicted to be 52 compared to 53 before, might influence immediate XAU/USD swings before the US ISM Services PMI for the same month. The Fedspeak and the news on China will also be significant. However, with demands for neutral rates and an economic slowdown, Friday's US Nonfarm Payrolls (NFP) will be the focus of much attention.


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