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French government spokesman: (Regarding Trumps tariff measures) We are ready for this trade war.French government spokesman: France will respond to Trumps tariffs together with Europe and reiterate that it will take reciprocal measures against digital services.On April 3, Anhui Provincial Governor Wang Qingxian presided over the 66th executive meeting of the provincial government on the afternoon of April 2 to review the "Opinions on Promoting the "Double Recruitment and Double Introduction" of Emerging Industries and Improving the Quality and Efficiency of Industrial Cultivation (Version 2.0)". The meeting pointed out that promoting the "double recruitment and double introduction" of emerging industries and improving the quality and efficiency of industrial cultivation is an important measure to create an emerging industry gathering place. We should focus on optimizing the industrial ecology, promoting the coordinated advancement of investment promotion and talent attraction, deepening the integrated development of "government, industry, academia, research, finance and services", and driving the integration of science and technology, industry and talents to land and empower each other. We must adhere to cutting-edge thinking, cutting-edge observation and cutting-edge action, further improve the quality and efficiency of the operation of the industry special team, constantly launch new offensives and achieve new results, and provide more powerful support for the provinces high-quality development.On April 3, Trump announced on April 2 that he would impose a 24% reciprocal tariff on Japan. In terms of details, the United States accused Japan of imposing a 700% tariff on American rice. Given that Japan imposed a "46%" tariff on the United States, a "24%" reciprocal tariff was imposed on Japan. Japans Minister of Agriculture, Forestry and Fisheries Taku Eto responded on April 3: "Even if you calculate logically, you wont get such a number. Its incomprehensible."Euro Stoxx 50 futures fell 2.08%, Germanys DAX futures fell 2.12% and Britains FTSE 100 futures fell 1.48%.

Gold Price Prediction: XAU / USD investors approach a 50% mean reversion zone prior to NFP

Daniel Rogers

Mar 10, 2023 11:28

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After data showed that weekly US jobless claims increased more than anticipated, the price of gold rose on Friday as the dollar weakened. This caused the market to reconsider the Federal Reserve's next move.

 

At the time of writing, the US Dollar index, DXY, was down 0.13 percent, making the price of Gold less expensive for buyers using other currencies. Ahead of the crucial Nonfarm Payrolls report, the gold price is currently in the $1,830s.

 

In the meantime, "the number of Americans filing for unemployment benefits increased. "Initial claims increased to 211k in the week to 4 March, while continuing claims increased to 1,718k," ANZ Bank analysts explained.

 

"This most recent data suggests that the labor market may be beginning to cool, but this data is notoriously volatile, so the market will be on the lookout for additional evidence that labor demand is decreasing. The Challenger Job Cuts data, which shows 77,000 jobs were eliminated in February, is one indicator that US companies are beginning to reduce their workforce, analysts added.

 

"This is less than the January figure of 109,243, but it is 400% higher than the previous February, and it is the highest number of jobs lost in any February since 2009. The majority of layoffs are in the technology, retail, and financial sectors.