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February 5th - According to the latest report from CIMBs Treasury and Markets Research Department, the Singapore dollar weakened slightly against the US dollar during Thursdays Asian trading session as markets anticipated a possible pause in interest rate cuts by the Federal Reserve. Federal Reserve Governor Cook recently expressed caution regarding inflation, and several other Fed officials share similar concerns. Analysts indicate that unless inflation slows further and no major negative surprises occur in the labor market, the Feds policy rate is expected to remain unchanged for some time.Sony (SONY.N) has increased the maximum amount of its share buyback program from 100 billion yen to 150 billion yen.European stock index futures fell, with the Euro Stoxx 50 futures down 0.3%, the German DAX futures down 0.3%, and the UK FTSE 100 futures down 0.2%.Tencent Holdings (00700.HK) has been declining for several days and is currently down more than 3%.February 5th - According to the National Medical Products Administration (NMPA), 50 batches of cosmetics were found to be non-compliant during the 2025 national cosmetics sampling inspection. The NMPA, in accordance with the "Regulations on the Supervision and Administration of Cosmetics," the "Measures for the Supervision and Administration of Cosmetics Production and Operation," and the "Measures for the Administration of Cosmetics Sampling Inspection," has instructed the drug regulatory authorities of Zhejiang, Guangdong, and Qinghai provinces to initiate investigations into the registrants, filers, and contract manufacturers involved in the aforementioned non-compliant cosmetics, and to order the relevant companies to take risk control measures and conduct self-inspections and rectifications in accordance with the law.

Gold Price Forecast: The XAU/USD pair struggles to continue its climb above $1,870, although the upside remains likely

Alina Haynes

Jan 09, 2023 12:00

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During the Asian session, the gold price (XAU/USD) is hovering in a narrow range around the immediate barrier of $1,870. The precious metal hopes to extend its uptrend in light of market players' increased risk appetite.

 

S&P500 futures have contributed to their gains during Friday's surge, indicating an optimistic market sentiment. The US Dollar Index (DXY) has detected resistance at 103.50 and is likely to find support near 103.00. The yields on 10-year US Treasuries have decreased to approximately 3.56 percent due to a loss in safe-haven attraction.

 

Amidst mounting prospects of a U.S. recession, the gold price is garnering considerable attention. Following a string of declines in the US ISM Manufacturing PMI, the Services PMI has also declined, indicating a decline in overall demand in the United States economy. The Services PMI dropped sharply to 49.6 compared to the predicted 55.0. In addition, the New Orders Index, a measure of future demand, plummeted to 45.2% as opposed to the anticipated 58.5%. The U.S. dollar is affected by a slowdown in economic activity and its expectations for the future.


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