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Israel Defense Forces: The body of the last hostage in Gaza has been recovered.On January 26, the Standing Committee of the Shanghai Municipal Committee of the CPC held an enlarged meeting to convey and study the spirit of the seminar for provincial and ministerial-level leading cadres on studying and implementing the spirit of the Fourth Plenary Session of the 20th CPC Central Committee. The meeting pointed out the need to promote the deep integration of technological innovation and industrial innovation, accelerate the cultivation and development of new-quality productive forces, deepen the implementation of the "Shanghai Plan" for the three leading industries, promote the digital and green transformation of manufacturing, promote the high-quality and efficient development of the service industry, and continuously optimize the innovation and industrial ecosystem. It stressed the importance of fully leveraging the pioneering role of the "Five Centers" construction, strengthening functional layout, deepening coordinated development, and mutually empowering and promoting each other. The meeting also emphasized the need to further implement the strategy of expanding domestic demand, deepen the construction of an international consumption center city, continue the special action to boost consumption, and continuously promote the deep integration of culture, tourism, commerce, sports, and exhibitions. Furthermore, it called for optimizing the investment structure, improving investment efficiency, stimulating private investment, and increasing investment in human resources. Finally, it stressed the need to continuously deepen high-level opening-up, build a high-quality pilot area for the Oriental Hub International Business Cooperation Zone, rely on the comprehensive service platform for going global, increase the introduction and cultivation of professional service talents, and enhance overseas comprehensive service capabilities.On January 26th, Goldman Sachs predicted a uneventful January Federal Open Market Committee (FOMC) meeting, with most parties expected to agree to keep interest rates unchanged. The bank noted that Governors Waller and Bowman are likely to support this decision, while Stephen Milan will be the only dissenting voice. Goldman Sachs forecasts that the Fed will cut rates twice in 2026, with the first cut possibly in June.U.S. durable goods orders in November 2025 saw their biggest increase in six months, driven primarily by orders for commercial aircraft and other capital equipment. According to the Commerce Department, durable goods orders rose 5.3%, compared to a revised 2.1% decline in the previous month. Data released Monday also showed that core capital goods orders, excluding aircraft and military equipment (reflecting business investment in equipment), rose 0.7% month-over-month, exceeding expectations.United Airlines: As weather conditions improve, the number of flight cancellations is expected to decrease significantly on Monday.

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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