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Domestic News: 1. The Ministry of Public Security publicly solicited opinions on the Law on the Prevention and Control of Cybercrime. 2. Wang Xiangxi, Secretary of the Party Committee and Minister of the Ministry of Emergency Management, was investigated. 3. The National Bureau of Statistics: The manufacturing PMI in January was 49.3%, down 0.8 percentage points month-on-month. 4. The Southern Theater Command of the Peoples Liberation Army organized combat readiness patrols in the territorial waters and airspace of Huangyan Island and surrounding areas. 5. Xi Jinping: Give full play to comparative advantages, adhere to the principle of seeking progress while maintaining stability, and promote continuous breakthroughs in the development of my countrys future industries. 6. Qiushi magazine published an important article by General Secretary Xi Jinping entitled "Taking the Path of Financial Development with Chinese Characteristics and Building a Financial Power." 7. The Beijing Economic-Technological Development Area Management Committee issued the "Implementation Plan on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)." International News: 1. CME raised the margin requirements for gold, silver, platinum, and palladium futures. 2. The US federal government entered a technical, partial shutdown. 3. Indonesias financial regulatory agency appointed an interim head and an executive head. 4. Trump announces Brett Matsumotos nomination as the new director of the Bureau of Labor Statistics. 5. Sources: Talks between Russia and the United States have begun in Miami, Florida. 6. SpaceX applies to deploy one million satellites to build an orbital AI data center network. 7. According to Interfax: Russia lifts its ban on gasoline exports to producers. 8. Jensen Huang: Will definitely participate in this round of investment in OpenAI, which may be the largest investment in the companys history. 9. Federal Reserve Chairman nominee Warsh is reportedly involved in the Epstein case; US Commerce Secretary Lutnick is reportedly reported to have visited Epsteins private island. 10. An explosion occurred in a building in southern Iran; the Iranian Islamic Revolutionary Guard Corps denies rumors of an assassination attempt on Navy Commander Donsiri; two Israeli officials stated that Israel was not involved in the Iranian explosion.On January 31st, at the Fourth Session of the 14th Heilongjiang Provincial Peoples Congress, which opened on January 31st, expanding domestic demand and promoting consumption were once again key tasks in the government work report. In 2026, Heilongjiang Province will hold over 2,000 consumption-promoting activities, including "Shopping in Heilongjiang," and distribute over 800 million yuan in government consumption vouchers. In 2025, Heilongjiang Province launched a special campaign to boost consumption, expanding the scope of the trade-in program for old consumer goods and organizing a series of consumption-promoting activities, stimulating consumption by 72.84 billion yuan. The province also stimulated potential consumption such as first-launch economy and live-streaming e-commerce, establishing 15 new internationally and domestically renowned flagship stores, and achieving a 14.7% year-on-year increase in online retail sales. The investment structure continued to optimize, with investment in high-tech manufacturing increasing by 11.5% year-on-year, and the proportion of private investment increasing by 2.2 percentage points.January 31st - To effectively curb the sources of cybercrime, rectify the cybercrime ecosystem, and enhance the publics sense of security and satisfaction with cybersecurity, the Ministry of Public Security, after thorough research and demonstration, has drafted the "Cybercrime Prevention and Control Law (Draft for Public Comment)," and is now soliciting public opinions. The deadline for feedback is March 2nd, 2026.January 31st - According to Lighthouse Pro, as of 9 PM on January 31st, the total box office for January 2026 reached 1.961 billion yuan, with "Zootopia 2" holding the top spot for the third consecutive month.On January 31, the "Implementation Plan of Beijing Economic-Technological Development Area on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)" was released. The Implementation Plan systematically outlines the development goals for the Beijing Economic-Technological Development Areas city of artificial intelligence over the next two years, proposing to accelerate the construction of a city-level engineering experimental platform driven by data and scenarios, and to promote the application of artificial intelligence in various industries and households. The Implementation Plan specifies that by the end of 2027, the focus will be on building no fewer than 10 benchmark intelligent scenario complexes, promoting the application of 100 vertical models, constructing a number of high-quality industry datasets, gathering 1,000 core enterprises in the artificial intelligence industry chain, attracting 10,000 super individuals and independent developers, and significantly enhancing the scale and level of the core industries of the intelligent economy.

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.