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The UKs June Nationwide House Price Index will be released in ten minutes.July 1st - According to statistics from the Hengqin Border Inspection Station of the Zhuhai Border Inspection General Station, in the first half of 2026, the total number of passengers entering and leaving the country through the Hengqin Port exceeded 17.77 million, a year-on-year increase of 27.8%; the number of vehicles entering and leaving the country reached 2.21 million, a year-on-year increase of 40.6%. Among them, 1.46 million vehicles had Macao license plates, accounting for 66.2% of the total number of vehicles. The ports passenger and vehicle traffic increased simultaneously, and the vitality of two-way exchanges between Hengqin and Macao continued to be released.On July 1st, Jun Mimura, Japans top foreign exchange official, stated that Japans intervention in the foreign exchange market two months prior to support the yen was successful and received support from some U.S. officials. He said, "Judging from the subsequent market performance, I believe that intervention was clearly meaningful. To my knowledge, the U.S. never commented against our actions; on the contrary, they actually made some more supportive statements." Mimuras remarks came as the yen fell to a 40-year low against the dollar, posing a greater risk of inflation for Japan. Japan is a major energy importer, and food imports account for more than half of its economy. He emphasized frequent communication with Washington, stating, "Through phone calls and emails, I contact them much more frequently than people imagine."Japans household consumer confidence index for June was 33.8, below the expected 34.1 and the previous reading of 33.6.Japans top foreign exchange official: To the best of my knowledge, the United States has never made any comments opposing our actions; on the contrary, the U.S. has actually made some more supportive statements.

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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