EUR/USD 1.16540
-0.079%
Gold 4648.37
-0.071%
Oil 83.960
-0.699%
USD/JPY 159.339
0.155%
GBP/USD 1.36251
-0.038%
GBP/JPY 217.106
0.125%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 25th, research firm Digitimes reported that major cloud service providers are expected to place increasing emphasis on operational efficiency and financial discipline in the second half of 2026, as spending on AI-driven infrastructure continues to surge. Amazon, Alphabet, and Microsofts combined cloud revenue reached $106.3 billion in the second quarter, with annual growth accelerating to 43%, the fastest pace since 2020. Digitimes stated that Amazon, Microsoft, Alphabet, and Meta are expected to increase total capital expenditures to a record $745 billion. While these companies remain optimistic about AI demand, rising investment costs have already put pressure on free cash flow, prompting cloud service providers to seek cost control, financial adjustments, and more efficient AI service solutions to balance growth targets with increasing investment risks.On August 25th, Danske Bank senior analyst Jesper Fjarstedt stated in a report that escalating geopolitical tensions have added new complexity to the upcoming Jackson Hole symposium. Federal Reserve Chairman Warsh will speak on Friday, and "the market widely expects him to avoid giving clear policy signals and is unlikely to directly discuss Treasury intervention in the market." Meanwhile, US Treasury Secretary Bessant stated on Monday that the US is launching an operation aimed at isolating the Iranian regime and warned that countries and businesses doing business with Iran will face US retaliation.On August 25th, according to the Yomiuri Shimbun, a panel of experts from Japans Ministry of Economy, Trade and Industry approved a proposal on Monday to establish a subsidy program to support companies in diversifying their crude oil and naphtha supply sources. This proposal is part of Japans efforts to reduce its reliance on petroleum products imported via the Strait of Hormuz and is expected to be incorporated into the governments upcoming energy diversification policy. The program will compensate companies for the additional costs incurred by avoiding the Strait of Hormuz. The Japanese government will levy fees on all companies importing crude oil and naphtha and use the collected funds to finance the subsidy program. Companies that prioritize sourcing via the Strait of Hormuz will bear a higher cost burden. Meanwhile, the panel also confirmed that the national petroleum reserve program, including naphtha, will be restored to the equivalent of 90 days of consumption by the end of March 2028.The main contract for low-sulfur fuel oil (LU) fell 2.00% during the day, currently trading at 4931.00 yuan/ton.On August 25, the draft revision of the Banking Supervision and Management Law was submitted to the Standing Committee of the National Peoples Congress for its second review. The second draft further strengthens the responsibilities of banking regulatory agencies in protecting banking consumers, improves relevant systems, and specifically regulates illegal activities such as the misappropriation of customer funds by banking financial institution employees. The second draft adds a list of prohibited actions by banking financial institutions and their employees that infringe upon the legitimate rights and interests of consumers, including not infringing upon the legitimate rights and interests of depositors and other customers through misappropriation of funds, not forcing customers to bundle or sell products or services, not providing depositors and other customers with products that do not meet their risk tolerance in violation of suitability management regulations, and not using improper means for debt collection. To provide stronger legal support for preventing and resolving banking financial risks, the second draft splits Chapter Four, "Supervision and Management Measures," into two chapters: "Supervision and Management Measures" and "Risk Disposal," clarifying the division of responsibilities between the central and local governments in risk disposal for banking financial institutions, strengthening risk disposal measures, and specifying the ways in which deposit insurance fund management institutions and other entities participate in risk disposal.

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

 截屏2022-08-04 下午5.25.46_1024x576.png

 

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.


Suggestion