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August 11th - According to big data from TravelSkys official direct sales platform for civil aviation, as of August 11th, domestic flight ticket bookings for the Mid-Autumn Festival and National Day holidays (September 25th - October 7th) exceeded 1.71 million, a year-on-year increase of approximately 7%; while international flight ticket bookings exceeded 1.28 million, a year-on-year increase of approximately 11%.On August 11th, it was reported that since August, several small and medium-sized banks in Hubei, Guangdong, and other regions have successively raised deposit interest rates. Entering August, many city commercial banks, rural commercial banks, and village banks announced increases in their listed deposit rates or rates on special deposit products. Overall, the increases ranged from 10 to 33 basis points (BP). Against the backdrop of declining macro-market interest rates and the banking industrys continued efforts to reduce liability costs, the fact that most small and medium-sized banks have lowered deposit rates has drawn market attention. Industry insiders believe this move has a clear characteristic of attracting deposits in a short period, lacks universality, and is not directly related to the recent collective resumption of five-year large-denomination certificates of deposit by some large state-owned banks.On August 11th, it was reported that DeepSeek Harness has established an official WeChat account, "DeepSeek Harness Team," with the account registered under the name of Beijing DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. Public information shows that the latter is wholly owned by Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. In late June, Cui Tianyi, head of the DeepSeek Harness team, posted on social media that as a newly established department, the DeepSeek Harness team has ambitious goals and a heavy workload, and is currently facing a severe shortage of personnel. He stated, "Im interviewing people every day and posting recruitment ads on various platforms."Al Arabiya TV reported that Houthi rebels attacked a merchant ship with a ballistic missile in the Bab el-Mandeb Strait today, killing three foreigners.On August 11, Moldovan Deputy Prime Minister and Minister of Infrastructure and Regional Development Vladimir Boleya visited Ukraines Odessa region on August 10 to discuss optimizing railway connectivity and increasing the scale of transit transport with Ukrainian officials. According to British media reports, facing disruptions to Black Sea shipping, Ukraine is considering using the Moldova railway to export grain. On August 10, reports indicated that Ukraine hopes to transport grain to the Romanian port of Constanta via railways within Moldova. The two sides are currently negotiating the timing, volume, and freight costs of the grain shipments. Reports suggest that Ukraine is attempting to negotiate a 50% discount on standard freight rates; Moldova, on the other hand, is demanding guarantees from Ukraine regarding the volume of grain transit transport.

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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