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On September 18th, according to data from the third-party travel platform "Flight Manager," the civil aviation industry is expected to operate a total of 219,000 passenger flights during the Mid-Autumn Festival and National Day holiday in 2026 (September 25th to October 7th), averaging over 16,800 flights per day, a year-on-year increase of 2%. Airfares have also risen. According to Flight Managers booking data, as of September 17th, the average booked price for domestic economy class tickets during the 2026 National Day holiday is approximately 973.7 yuan, a year-on-year increase of 9%. Looking at price trends, the long holiday has accelerated travel, with peak passenger flows relatively dispersed, and some routes still offering price advantages during the holiday. The official direct sales platform of TravelSky shows that, as of now, routes such as Beijing to Taiyuan, Hulunbuir, Changchun, and Lanzhou; Shanghai to Qingdao, Shijiazhuang, Wuhan, Changsha, and Chengdu; and Guangzhou to Zhanjiang, Jieyang, Fuzhou, Changsha, Qionghai, and Sanya all have tickets available for around 300 yuan during the National Day holiday. The extended holiday has also further fueled the outbound tourism market. This years National Day and Mid-Autumn Festival holidays saw a surge in cross-border travel demand across various destinations, with both long-distance and short-distance destinations experiencing a rise in popularity.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which includes implementing an RV consumption promotion campaign. The measures encourage eligible regions to improve their RV consumption promotion policies, promote new RV lifestyles, cultivate an RV consumption culture, and raise the level of RV consumption. Regions with car purchase restrictions are encouraged to optimize RV management measures, shifting from purchase management to usage management. Pilot cities for automobile circulation and consumption reform are supported in including RV consumption promotion as a reform task, and pilot cities for new consumption formats, models, and scenarios are encouraged to include eligible RV campsites and other consumption scenarios in their support scope. Support is given to including RV campsites in tourism promotion activities, promoting coordinated discounts between campsite consumption and surrounding consumption formats. RV-friendly destinations will be launched in batches.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which mentions strengthening the supply and management services of RV tourism products. It guides eligible regions to integrate cultural and tourism resources to create a number of distinctive RV tourism routes. It encourages tourism enterprises to integrate resources related to RV sales, rentals, and travel to launch customized tourism products and cultivate and expand the RV consumption market. It also promotes the development of high-quality self-driving tourism roads, with parking areas and viewing platforms along the routes taking into account the parking needs of RVs. Furthermore, it regulates RV camping behavior, addressing issues such as illegal use of open flames, illegal parking, unauthorized construction, illegal connections to water and electricity, littering, and damage to public facilities and green spaces, while advocating for Leave No Trace camping.According to South Korean media reports, South Korea has secured 70% of its crude oil supply for November and has secured more than 90% of its crude oil supply for September and October.EDF (Électricité de France) plans to build 10 small modular reactors (SMRs) for nuclear power generation in Europe by 2035, a project worth tens of billions of euros. One SMR is planned for Italy, with a target completion date of 2035.

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.


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