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On April 20, according to a report by RIA Novosti, Russian Deputy Foreign Minister Grushko stated that the Russian military will consider Frances plans to deploy nuclear weapons in non-nuclear European countries when updating its list of priority targets in future conflicts. In an interview, Grushko said that France has announced the possibility of dispersing its nuclear forces to non-nuclear European countries, a point that requires special attention. In the event of a serious conflict in the future, Russia will closely monitor this situation when updating its priority military targets.April 20th - Aviation industry experts said on the 19th that travelers worldwide should prepare for flight cancellations, route reductions, and continued ticket price increases in the coming months, as many airlines are entering "self-protection" mode, cutting capacity and raising fares to cope with unfavorable situations such as insufficient aviation fuel supply and soaring prices. According to data from the UK-based aviation data analytics company, Resair, global air capacity is expected to decline by 3% in May, and at least 19 of the worlds 20 largest airlines have reduced flights in May. Data from the International Air Transport Association (IATA) shows that aviation fuel prices constitute the largest portion of airline costs, accounting for approximately 30% of their total costs. After the US and Israel launched military strikes against Iran at the end of February, effectively blocking the Strait of Hormuz, aviation fuel prices doubled, exceeding $200 at their peak.European futures fell, with the Euro Stoxx 50 futures and the German DAX futures both down more than 1%.April 20th - As of April 15th, the passenger flow of the Shenzhen-Hong Kong cross-border high-speed rail has exceeded 10 million this year, setting a record for the fastest clearance growth since the line opened, 16 days ahead of last year. In response to key scenarios such as concentrated arrivals and departures during the morning rush hour, long-distance train connections, and additional temporary trains during holidays, the Shenzhen Border Inspection Station has established a daily consultation, information sharing, and emergency response mechanism with departments such as the MTR Corporation. They have jointly formulated a special plan to ensure train punctuality, helping the West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong High-Speed Rail maintain a consistently high on-time rate of over 99.8%, ranking among the top in the country. Since the beginning of this year, coupled with the continuous optimization of the "co-location arrangement" clearance model and the full release of policy benefits such as "multiple-entry visas," passenger flow at the port has shown a strong trend of "strong off-season and even stronger peak season." Furthermore, stimulated by the visa-free policy for foreigners visiting China and the 240-hour visa-free transit policy, the number of visa-free arrivals at the port exceeded the number of visa-holding arrivals for the first time.On Monday, April 20, the Hang Seng Index opened 44.28 points higher, or 0.17%, at 26,204.61; the Hang Seng Tech Index opened 16.9 points higher, or 0.34%, at 5,059.58; the H-share Index opened 11.23 points higher, or 0.13%, at 8,856.25; and the Red Chip Index opened 8.71 points higher, or 0.2%, at 4,334.43.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

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In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.