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On September 4th, at the 2026 World Power Battery Conference, Liu Min, Chief Engineer of the State Administration for Market Regulation, stated that preventing "involutionary" competition has been incorporated into the comprehensive rectification framework. The Administration, in conjunction with the Ministry of Industry and Information Technology, the National Development and Reform Commission, and other departments, is continuously carrying out capacity early warning and regulation, standardizing price competition, strengthening product quality supervision, and striving to build a market environment of high quality, fair price, and fair competition.On September 4th, the State Radio Office issued a notice regarding the pilot evaluation of third-party agencies for domestic satellite network coordination (2026-2027). The notice outlines three key aspects: First, it clarifies the applicable conditions for the evaluation, allowing for the use of third-party assessments to resolve issues such as unreasonable coordination requirements, unclear standards, disputed technical analyses, and ambiguous frequency compatibility conclusions, where repeated coordination and consultation fail to reach a consensus. Second, it outlines the evaluation procedures, including the selection of third-party agencies, the implementation of the evaluation, and the application of the evaluation results. Third, it specifies the requirements for the evaluation, including objective and impartial assessment, strict confidentiality, prohibition of illegal or irregular assessments, and timely feedback of opinions and suggestions.September 4th - According to the latest tax data released by the State Taxation Administration, since the beginning of this year, tax authorities have implemented various tax and fee reduction policies to support urban renewal, resulting in a total tax and fee reduction and refund of 487 billion yuan in the first half of the year. Specifically, in the first half of the year, policies such as exempting public rental housing from value-added tax and deed tax, and continuing preferential policies on personal income tax for residents purchasing new homes to support meeting the rigid and improved housing needs of the public, resulted in tax and fee reductions and refunds of 209.8 billion yuan. Policies such as allowing a certain percentage of investment in special equipment for environmental protection, energy conservation, water conservation, and safe production to be deducted from corporate income tax payable, and exempting urban public transport companies from vehicle purchase tax on public buses and trolleybuses, to support the construction of green and low-carbon cities, resulted in tax and fee reductions and refunds of 168.4 billion yuan.On September 4th, according to Qichacha APP, Wuhan Xinrongguang Technology Co., Ltd. was recently established, with Sun Peng as the legal representative and a registered capital of 13.2 billion yuan. Its business scope includes integrated circuit design; integrated circuit chip design and services; integrated circuit chip and product manufacturing; and power electronic component manufacturing. Qichachas equity penetration analysis shows that the company is jointly held by Wuhan Xinxin Integrated Circuit Co., Ltd. (a subsidiary of Yangtze Memory Technologies Co., Ltd.), Wuhan Optics Valley Semiconductor Industry Investment Co., Ltd., and China Internet Investment Fund (Limited Partnership), among others.On September 4th, at the JD Supermarket 12th Anniversary Press Conference, it was announced that in the first half of 2026, JD Supermarket achieved double-digit growth in revenue and a 15% year-on-year increase in users, adding over 10 brands with sales exceeding 100 million RMB, over 100 best-selling products with sales exceeding 10 million RMB, and over 1,000 best-selling products with sales exceeding 1 million RMB. Addressing common challenges faced by brands and merchants, such as rising traffic costs and intensified price competition, Niu Yinghua, Vice President of JD Group and President of JD Retail Supermarket Business Group, announced four major initiatives at the conference: product co-creation, user co-creation, channel co-creation, and efficiency co-creation.

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.

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