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Mercedes-Benz CFO: We expect car sales to reach 1.7 million units in 2026.July 28th - ING analysts Warren Patterson and Ewa Manthey noted that gold prices rose on Monday as a sharp drop in oil prices eased inflation concerns and pressured the dollar and US Treasury yields. Mondays sharp decline in oil prices eased inflation concerns and the prospect of further monetary tightening. This move followed the pause in hostilities between the US and Iran. Lower oil prices also pressured the dollar and US Treasury yields, improving the outlook for non-interest-bearing assets ahead of this weeks Federal Reserve meeting. The market is currently focused on the Federal Reserve and upcoming US inflation data for further guidance on the interest rate outlook. If yields remain subdued, gold prices should continue to find support near current levels. However, any hawkish surprises from the Federal Reserve could limit further upside potential in the near term.On July 28, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated that four months have passed since the illegal entry of Japanese Self-Defense Force officer Akihiro Murata with a knife into the Chinese Embassy in Japan. Despite repeated strong representations from China, the Japanese side has repeatedly delayed the investigation and handling of the case, using various pretexts such as so-called "mental evaluation," and has failed to promptly and severely punish the perpetrator. China expresses its strong dissatisfaction with this. Lin Jian pointed out that serious incidents threatening the security of Chinese embassies and consulates in Japan have continued to occur from time to time. "We once again urge the Japanese side to thoroughly investigate and rectify the situation, reflect on its mistakes, delve into the root causes, and provide a responsible explanation to China and the international community," Lin Jian said.On July 28, Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter from The New York Times asked, "According to reports, the U.S. State Department plans to invest hundreds of millions of dollars to counterbalance Chinas growing influence in the Americas, Africa, and Asia. What is Chinas response to this?" Lin Jian stated that normal relations and cooperation between countries should not be targeted at any third party. China has consistently opposed the formation of closed and exclusive "small circles." Lin Jian emphasized that Chinas cooperation with relevant countries and regions, especially with developing countries, is not about courting or confronting anyone, but about jointly safeguarding world peace, promoting global development, maintaining international order, and jointly building a community with a shared future for mankind.July 28th Futures News: On July 28th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 338,646 tons, an increase of 8,264 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,600 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 119 tons. 6. Petroleum asphalt futures warehouse receipts: 11,290 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 18,210 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

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.


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