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March 19th - From January to February, national general public budget revenue reached 4,415.4 billion yuan, a year-on-year increase of 0.7%. Of this, national tax revenue was 3,639.3 billion yuan, a year-on-year increase of 0.1%; non-tax revenue was 776.1 billion yuan, a year-on-year increase of 3.4%. Breaking it down by central and local governments, central government general public budget revenue was 1,916.7 billion yuan, a year-on-year decrease of 1.7%; local government general public budget revenue was 2,498.7 billion yuan, a year-on-year increase of 2.6%.Ministry of Finance: In January and February 2026, national government fund budget expenditures totaled 1,317.4 billion yuan, a year-on-year increase of 16%. Breaking it down by central and local governments, central government fund budget expenditures were 49.7 billion yuan, a year-on-year increase of 8%; local government fund budget expenditures were 1,267.7 billion yuan, a year-on-year increase of 16.3%, of which expenditures related to revenue from the transfer of state-owned land use rights were 641.8 billion yuan, a year-on-year decrease of 1.9%.Ministry of Finance: In January and February 2026, national government fund budget revenue totaled 536.3 billion yuan, a year-on-year decrease of 16%. Breaking it down by central and local governments, central government fund budget revenue was 86.2 billion yuan, a year-on-year increase of 6.7%; local government fund budget revenue was 450.1 billion yuan, a year-on-year decrease of 19.2%, of which revenue from the transfer of state-owned land use rights was 354.7 billion yuan, a year-on-year decrease of 25.2%.Ministry of Finance: Property tax revenue reached 83.1 billion yuan in January-February 2026, up 11.6% year-on-year. Deed tax revenue reached 65 billion yuan, down 11.1% year-on-year. Urban land use tax revenue reached 35.9 billion yuan, up 3.6% year-on-year.Ministry of Finance: In January and February 2026, national general public budget expenditures totaled 4,670.6 billion yuan, a year-on-year increase of 3.6%. By central and local governments, central government general public budget expenditures were 547.6 billion yuan, a year-on-year increase of 4.5%; local government general public budget expenditures were 4,123 billion yuan, a year-on-year increase of 3.5%.

XAU/USD faces barriers around $1,770 ahead of data on US inflation estimates, according to the gold price forecast

Daniel Rogers

Dec 07, 2022 14:57

In the Asian session, the gold market (XAU/USD) noticed selling action near the $1,770.00 immediate barrier. The US Dollar Index (DXY) has widened its upward trajectory above a four-day high at 105.60, putting the precious metal under pressure.

 

After a sell-off that continued for the second trading session, S&P500 futures are significantly worse, indicating that investors are currently taking a risk-averse stance. The 10-year US Treasury yields have partially recovered their losses and are currently at 3.56% as of the time of publication.

 

The market has become pessimistic due to recent indicators of a comeback in inflation following the resilience displayed by the US economy in November through services and labor demand. This has increased the possibility that the Federal Reserve (Fed) would give higher interest rate peak guidance at its monetary policy meeting next week.

 

Prior to that, however, consumer inflation predictions over the next five years took center stage. Since inflation has already shown signals of slowing, long-term inflation expectations are still anchored. The forward-inflation data had previously come in at 3%.

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