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On August 6th, the center of Typhoon Dolphin (strong typhoon), the 13th typhoon of this year, was located at 5 PM today in the Northwest Pacific Ocean, approximately 1130 kilometers east of Wenzhou, Zhejiang Province (26.6°N, 132.0°E), with maximum sustained winds near its center of 42 meters per second (14 on the Beaufort scale). It is expected that Dolphin will move west-northwest at a speed of 15-20 kilometers per hour, with little change in intensity or a slight increase. After crossing the Ryukyu Islands during the day on the 7th, it will move into the East China Sea, then slow down and gradually approach the coast of East China. It may make landfall along the coast from Zhejiang to northern Fujian between the afternoon of the 9th and the morning of the 10th (35-42 meters per second, 12-14 on the Beaufort scale, typhoon or strong typhoon level). After landfall, it will continue to move west-northwest, gradually weakening. Meanwhile, Typhoon Whale (the 14th typhoon of this year) further weakened this morning on Luzon Island, and the Central Meteorological Observatory ceased issuing warnings for it at 11 AM.A Reuters/Ipsos poll shows that three times as many Americans believe a war with Iran would lead to instability in the Middle East as they expect the situation to be more stable.On August 6th, multiple sources revealed that Li Auto released an appointment announcement on the last working day of July. To enhance product competitiveness, and with the approval of the R&D Technology Committee, the company will establish cross-domain integrated product and technology innovation working groups in batches. Ma Donghui stated that the core logic of the product and technology innovation working groups can be summarized by four keywords: emergence, co-creation, pre-emptive, and results list, corresponding to the source of innovation, collaboration methods, pace of progress, and results, respectively. Judging from the appointment announcement, the innovation working groups are essentially horizontally integrated teams formed around specific business segments, with members drawn from various departments such as R&D, product, procurement, and sales. In early July, news circulated internally that Li Auto would split its product department, but the company did not issue an official announcement. The establishment of these product innovation groups is widely regarded by Li Auto employees as an official confirmation of this news.August 6th - According to the latest Challenger layoff report, the number of layoffs in the US fell to 33,429 in July, with hiring plans showing signs of recovery; artificial intelligence (AI) became the main driver of layoffs for the fifth consecutive month. The report states that US employers announced 27% fewer layoffs in July than in June, and a 46% decrease compared to the same period last year, marking the lowest monthly total in two years. Julys total layoffs were the lowest since July 2024, when 25,885 layoffs were announced. As of July, employers had announced 477,033 layoffs, a 41% decrease compared to the number announced in the first seven months of 2025. This is the fifth time this year that layoff numbers have fallen below the same period last year. The pace of layoffs slowed significantly this summer. Layoff plans remain primarily concentrated in the technology sector, with AI remaining a dominant topic as investment in this technology reshapes corporate organizational structures. However, Andy Challenger, Chief Revenue Officer of Challenger, stated, "Hiring is up 25% from last year, so while AI is changing the labor market, its not destroying employment."On August 6th, in response to the industry-wide discussion about over 500 new car models launched in the first half of the year, Li Yanwei, an expert from the China Automobile Dealers Association, stated on social media that only about 165 new car models were launched in China from January to June 2026, and the widely circulated figure of 500 to 600 models is inaccurate. Li Yanwei explained that the figure of over 500 models is a combined count of the model itself, various configurations, and derivative versions. "For example, if a new model is launched with three configurations, this can be counted as one model with three variations; if we include the 165 models launched in the first half of the year with different configurations, there might be 500 to 600 variations; but saying there are only 500 to 600 models is inaccurate." Previously, several media outlets used a broad statistical method, claiming 550 new car models from January to May and over 600 models in the first half of the year, sparking heated discussions within the industry.

Gold Price Prediction: XAU/USD bears at $1,650 on Fed hawkishness and China news

Daniel Rogers

Sep 19, 2022 14:34

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During early Monday morning in Europe, the gold price (XAU/USD) maintains a position close to the intraday low at $1,670. In doing so, metal prices endure the weight of a stronger U.S. dollar amidst a sluggish session caused by Japanese and British vacations. The cause may be related to the Fed's hawkish bets and China-related news stories.

 

US Dollar Index (DXY) reverses a two-day slump while posting intraday gains of 0.18 percent at 109.85 as of press time. Indicators of the U.S. dollar's value versus the six major currencies have recently been buoyed by the University of Michigan's September consumer sentiment report and the market's positive expectations on the Fed's next move. Consequently, the probability of a 75-basis-point (bps) rate hike by the Federal Reserve increased to 80%, while the market's estimates of a one-percentage-point increase in the Fed rate rose to 20% at the latest.

 

US President Biden stated elsewhere, "I'm more positive than I've been in a long time." The national leader also claimed that inflation will be brought under control. On the same line are the covid updates from China, which have unlocked Dalian and Chengdu while observing zero coronavirus cases in Beijing and one, as opposed to zero the day before, outside of Shanghai's quarantine zone. However, US President Biden's willingness to support Taiwan in the event that China assaults Taiwan and hawkish expectations for the Federal Reserve appear to weigh on the steel price ahead of the major monetary policy pronouncements.

 

In addition, the People's Bank of China (PBOC) reduces the 14-day reverse repo rate by 10 basis points to 2.15 percent. "With no maturing reverse repos on Monday, the Chinese central bank injects 12 billion yuan," reports Reuters. The same might have indicated that the dragon nation is not in recovery mode and requires more rate cuts than rate raises, which could have caused the gold price to plummet. The cause is China's position as one of the world's largest gold consumers.

 

In light of this, the S&P 500 Futures post modest losses while mirroring Wall Street's Friday close. Notably, the selling in Japan curbs bond movements in Asia, but yields are robust near the multi-day high due to fears of a recession and hawkish Fed views.

 

Moving forward, a light economic calendar and important market holidays may limit intraday XAU/USD price fluctuations. However, bears are expected to maintain control because to aggressive Fed expectations, which, if dashed, might defy the bearish chart pattern and spark the long-awaited rally.