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On Wednesday, January 14th, the German DAX 30 index opened 11.70 points higher, or 0.05%, at 25423.14; the French CAC 40 index opened 26.16 points higher, or 0.31%, at 8373.36; the Euro Stoxx 50 index opened 7.83 points higher, or 0.13%, at 6037.66; the Spanish IBEX 35 index opened 93.34 points higher, or 0.53%, at 17765.64; the Italian FTSE MIB index opened 36.40 points higher, or 0.08%, at 45561.50; and the UK FTSE 100 index opened 20.70 points higher, or 0.20%, at 10158.05.January 14th - Data released today by the General Administration of Customs shows that, in US dollar terms, Chinas exports in December 2025 increased by 6.6% year-on-year, an acceleration of 0.7 percentage points compared to November. Wang Qing, chief macro analyst at Golden Credit Rating, stated that the trade diversion effect continued to unfold in December, with exports to Belt and Road Initiative participating economies accelerating. Furthermore, driven by the global AI investment boom and the transformation and upgrading of domestic manufacturing, the growth rate of chip and automobile exports accelerated significantly in December.ECB Governing Council member Villeroy: Political uncertainty surrounding the French budget has reduced GDP growth by at least 0.2%.On January 14th, Jianghua Microelectronics announced that its controlling shareholder, Zibo Xingheng Tusong, is planning a major event that could lead to a change in the companys control. Due to the uncertainty surrounding the transaction, trading in the companys shares will remain suspended from January 13th, 2026, for no more than three trading days. During the suspension period, the company will fulfill its information disclosure obligations based on the progress of the matter.European Central Bank Governing Council member Villeroy: If the budget deficit in 2026 exceeds 5%, France will enter a dangerous zone.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.

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