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March 19th - According to Counterpoint Researchs "Foldable Smartphone Market Forecast" report, global foldable smartphone shipments are projected to grow by 20% in 2026, supported by factors such as Apples anticipated entry into the market, the continued premiumization of the smartphone market, and increased OEM participation. With Apple preparing to launch its first foldable iPhone, the foldable smartphone market will enter a new phase of competition in 2026. As the foldable market evolves, the competitive landscape is expected to change rapidly. Apples entry will be a key inflection point. Counterpoint Research predicts that Apple will achieve a 28% market share in 2026, closing in on Samsungs leading position.Goldman Sachs raised its target price for China Literature (00772.HK) from HK$44.90 to HK$45.50.On March 19th, Olivier Dassier, Head of Investment Decision Research for Asia Pacific at SimCorp, stated that central banks operate by taking no risks. Therefore, when faced with external shocks like the Liberation Day tariffs, the COVID-19 pandemic, or similar events, they tend to temporarily back off, pause their actions, and say, "We need data." We saw the Federal Reserve take this hedging measure last night, and the Bank of Japan is clearly doing the same. This year, once things calm down, the Bank of Japan may continue to raise interest rates. However, the market is not responding positively to its bond-buying operations that limit long-term bond yields. The yen has been penalized because the Bank of Japan has limited long-term bond yields. The divergences at Federal Reserve meetings, Bank of Japan meetings, and European Central Bank meetings are much greater than before. This precisely reflects a lack of confidence in the data.On March 19, AstraZeneca announced plans to establish a commercial cell therapy manufacturing and supply base and innovation center in Shanghai. On the same day, the company signed a multi-party cooperation memorandum of understanding with the Shanghai Science and Technology Commission and leading UK research and financial institutions. AstraZeneca will build a dedicated commercial cell therapy manufacturing and supply base in the Lingang New Area of the Shanghai Free Trade Zone for the commercial production and supply of autologous CAR-T cell therapies in China and other Asian markets. This includes AZD0120, a BCMA/CD19 dual-target CAR-T cell therapy developed using Gracell Biotechs FasTCAR rapid production platform.Japans final January inventory growth rate was -0.8%, compared to 0.1% in the previous month.

Forecast for the price of gold: XAU/USD recovery aims toward $1,800 as US inflation prospects test Fed hawks

Daniel Rogers

Dec 06, 2022 14:57

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The price of gold (XAU/USD) is still rising, hovering around $1,778 as the US dollar battles to maintain its week-start gain on early Tuesday. In addition to the movements of the dollar, technical analysis supports bullion buyers in maintaining control even as markets contract prior to the Federal Reserve's policymakers going dark.

 

On Monday, the US ISM Services PMI increased to 56.5 in November from 53.1 in the market expectation and 54.4 in the prior readings, while Factory Orders likewise showed 1.0% growth vs 0.7% predicted and 0.3% in the prior readings. Additionally, the S&P Global Composite PMI increased to 46.4 from 46.3 initial estimates, while the corresponding figure for services increased to 46.2 from 46.1 flash expectations.

 

On Friday, the US Nonfarm Payrolls (NFP) surprised markets by increasing to 263K instead of the 200K predicted and the 284K previously reported, although the unemployment rate for November was in line with market expectations and previous readings at 3.7%. Charles Evans, president of the Chicago Federal Reserve, commented after the positive report that "we are probably going to have a slightly higher peak to Fed policy rate even as we moderate pace of rate hikes."

 

However, it should be noted that a surprise decline in US inflation expectations from a one-month high, as measured by the 10-year and 5-year breakeven inflation rates, according to data from the St. Louis Federal Reserve (FRED), calls into question the recent hawkish bias regarding the US Federal Reserve's (Fed) next move. The most recent estimates of inflation forecasts for the next five and ten years show a decline from the one-month peak to 2.46% and 2.39%, respectively.

 

In other places, the market's optimism appeared to have been aided by expectations that China will soon relax its rigorous Zero-COVID policy. According to Reuters, an anonymous source, China is expected to announce a further reduction of some of the world's strictest COVID regulations as early as Wednesday.

 

A three-day slump is broken by the S&P 500 Futures, which record intraday gains of 0.20 percent around 4,011. However, the US 10-year Treasury note yields have fallen three basis points (bps) to 3.56% as of press time, following a rally from an 11-week low established last Friday.

 

Moving on, Gold may continue to recover despite what is likely to be a slow day, although concerns about China and the Fed seem crucial for short-term trends.


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