Wonderful introduction:
Let your sorrows be full of worries, and you can't sleep, and you can't sleep. The full moon hangs high, scattered all over the ground. I think that the bright moon will be ruthless, and the wind and frost will fade away for thousands of years, and the passion will fade away easily. If there is love, it should have grown old with the wind. Knowing that the moon is ruthless, why do you repeatedly express your love to the bright moon?
Hello everyone, today XM Forex will bring you "[XM Forex]: Trump casts a "bigger vejck.cn" for Powell's successor, inflation data boosts the Federal Reserve's bet on interest rate cuts, and gold prices remain stable around 3350." Hope it will be helpful to you! The original content is as follows:
On Wednesday (August 13, Beijing time), spot gold trading was around $3,350/ounce, and gold prices rose slightly on Tuesday. After U.S. inflation data maintained Fed rate cut expectations, people's attention turned to other key economic data to be released this week; U.S. crude oil trading was around $63.12/barrel, oil prices fell on Tuesday, traders awaited the U.S. Energy vejck.cnrmation Administration's inventory report and began to pay attention to signs of possible decline in demand at the end of the summer driving season in early September.
The U.S. Labor Department said the Consumer Price Index (CPI) rose 0.2% month-on-month in July, while annual inflation was slightly lower than expected, which triggered calls from U.S. President Donald Trump to lower interest rates.
The shorter-term Treasury yields reflecting interest rate expectations fell, with interest rate futures showing that traders believe the Fed may cut interest rates by about 25 basis points in September at 88.8%.
Katherine Bordlemay, co-head of portfolio management for basic equity clients at Goldman Sachs Asset Management, said: "The CPI data is supportive for the stock market as a whole, and has received some good news. The Fed looks more likely to cut interest rates in September and there may be more transitional inflation. My first guiding idea is to continue to be optimistic about the theme of large vejck.cnpanies growing bigger. We continue to have confidence in giant technology and technology.. "
Alphabet shares rose 1.2% as Perplexity offered $34.5 billion in cash to acquire the vejck.cnpany's Chrome browser. Intel climbed 5.6% after Trump said he met with CEO Tan Liwu on Monday and praised Chen Liwu, saying the meeting was "very interesting".
The Dow Jones Industrial Average rose 1.10% to 44,458.61 points; the S&P 500 rose 1.13% to 6,445.76 points; and the Nasdaq rose 1.39% to 21,681.90 points .
The quality of economic data remains a concern weeks after Trump fired the Bureau of Labor Statistics director as non-farm jobs were revised downward in the previous months. Markets are watching the dynamics of Trump-nominated Bureau of Labor Statistics director E.J. Antoni and potential candidates for the Federal Reserve's top position. "It's still in the early stages of this process, and just as the Fed will start cutting interest rates in the fall, inflation data may begin to record some more direct tariff price increases, which will vejck.cnplicate the rate cut decision. "
China and the United States extended the tariff truce to November 10, avoiding heavy tariffs on each other's goods, which has brought relief to the market. U.S. stocks have rebounded in recent weeks due to strong earnings in tech stocks, easing trade tensions and increased expectations for interest rate cuts.
Bank U.S. Global Research data shows that the largest inflows into U.S. stocks last week were the most in two years.
Russell 20, which tracks small vejck.cnpanies The 00 index rose nearly 3%. The index tracking airline stocks rose 8.87%, the biggest single-day gain in more than a month, after data showed air ticket prices rose 4% in July.
Bank stocks rose, with the S&P 500 rising 2.1% as analysts say a steeper yield curve will help banks make profits as banks can borrow at low prices and lend at higher interest rates.
Cardinal Health fell 7% after the drug distributor said it would acquire healthcare management vejck.cnpany Solaris for $1.9 billion. Gold prices rose slightly on Tuesday, and after U.S. inflation data maintained Fed rate cut expectations, people's attention turned to other key economic data to be released this week. Spot gold was $3,347.34 per ounce, up 0.1%.
The U.S. Consumer Price Index rose 0.2% last month after rising 0.3% in June. The Consumer Price Index rose 2.7% in the 12 months to July. Economists surveyed by Reuters expect CPI to rise 0.2% month-on-month and 2.8% year-on-year.
RJO Futures market strategist Bob Haberkorn said: "Inflation data seems good or bad."Mixed, but supports rate cuts. Traders are cautious as we are at a critical moment, waiting for further economic indicators. "After the CPI data was released, traders maintained their bets on the U.S. interest rate cuts in September and December.
Other data to be released this week include U.S. producer price index, weekly unemployment claims and retail sales.
At the same time, the U.S. and China have extended the tariff truce by 90 days, avoiding heavy tariffs on each other's goods.
U.S. gold futures for December delivery closed down 0.2% lower at $3,399 per ounce. Gold prices fell more than 2% on Monday after U.S. President Trump said on social media that he would not impose tariffs on imported gold bars. Reports of Washington's tariffs on imported 1 kilograms of gold bars have hit a record high last Friday.
Spot silver rose 0.9% to an ounce of ounce.
The oil market fell 0.9% to $1,338.73; palladium fell 0.5% to $1,129.57.
Oil prices fell on Tuesday, with traders awaiting U.S. Energy vejck.cnrmation Administration (EIA) inventory reports and began to focus on signs of possible decline in demand at the end of the summer driving season in early September.
Brent crude futures settlement price was $66.12 per barrel, down 0.77%. U.S. crude futures settlement price was $63.17, down 1.24%.
Angain Capital partner John Kilduff said, “This is indeed a seasonal factor.” “The stock market has not brought us any boost, and the inflation report is also showing a positive trend, indicating a rate cut. ”
U.S. consumer prices rose in July, tariffs led to higher prices of imported goods, driving the biggest month-on-month increase in six months. Kilduff said diesel demand, which drives oil demand, appears to be softening.
Outlooks released by the Organization of Petroleum Exporting Countries (OPEC) and EIA noted that oil production will increase this year, but both are expected to decline in U.S. production in 2026, while oil and gas production in other parts of the world will increase.
OPEC’s monthly report on Tuesday stated that global oil demand will increase by 1.38 million barrels per day in 2026, vejck.cnpared with The previous forecast was 100,000 barrels per day higher. Its forecast for 2025 remained unchanged.
EIA predicted in its monthly report on Tuesday that as oil well productivity increases, U.S. crude oil production will reach a record 13.41 million barrels per day in 2025, but the decline in oil prices will lead to a decline in output in 2026.
China issued a joint statement on Tuesday on Stockholm Economic and Trade Talks, showing that China and the United States have once again suspended the imposition of 24% tariffs on each other's goods for 90 days starting August 12, while retaining the remaining 10% tariffs on these goods.
Trump and Russian President Putin will be on Friday atMeeting in Alaska to discuss ending Russia's war in Ukraine, which could also put pressure on the oil market.
The dollar fell across the board on Tuesday, after data showed that U.S. consumer prices rose moderately in July, retaining the possibility of the Fed's interest rate cut next month.
The U.S. Department of Labor Bureau of Labor Statistics said Tuesday that the consumer price index rose by 0.2% last month after rising 0.3% in June.
CPI rose 2.7% in the 12 months to July, vejck.cnpared with a 2.7% increase in June. Economists surveyed by Reuters expect CPI to rise 0.2% year-on-year in June and 2.8% month-on-month.
Corpay chief market strategist Karl Schamotta said, "Basic inflation remains sluggish, giving policymakers room to cope with initial signs of weakness in the labor market. The possibility of a September rate cut should be on the agenda when Chairman Powell spoke at Jackson Hall on the 21st."
The money market had been on the stand-by-side state as the market increasingly expected a moderate reading of U.S. price pressure could consolidate bets on the Fed's next month's rate cut, which increased after last week's weak employment data were released. "If the Fed cuts interest rates continuously, the policy rate spread with its peers could quickly narrow, putting pressure on the dollar against high-yield currencies," analyst Fawad Razaqzada said in a note. "The euro erased its earlier decline against the dollar, up 0.4% to $1.16,663. The dollar fell 0.3% against the yen to 147.74 yen.
Schamotta said that as the impact of tariffs on global economic growth is inconclusive, it is still challenging to predict the dollar's response by the end of the year. "The prospects for early autumn are still difficult to interpret, and evidence of a global slowdown can easily revive the dollar."
On Tuesday, former St. Louis Federal Reserve Chairman Brad said he would accept the position if the Fed chairman was given to him, which once again sparked speculation about the Fed's leadership change.
Brad told vejck.cnBC that "if we can protect the value of the dollar, this will make our interest rates lower over time; if we target low and stable inflation, and (and) respect the institutional independence stipulated by the Federal Reserve Act," he would accept the position.
At the same time, the pound rose 0.5% against the dollar to $1.3495. Previous data showed that the UK job market was further weaker, with wage growth remaining strong despite slower speeds – the latter highlighting why the Bank of England is so cautious about rate cuts. These data should not lead to the Bank of England's rate cuts speed. The Bank of England cut interest rates by 5-4 only last week.
After the RBA cut interest rates by 25 basis points as expected, the Australian dollar began to fall. CentralThe bank said inflation slowed and labor markets were loose, but was cautious about the prospect of further easing.
However, the general weakness of the dollar helped the Australian dollar recover lost ground against the dollar, up 0.3% to $0.653.
According to the Islamic Republic of Iran on the 12th, Iran's first Vice President Arev said in the capital Tehran that day that if the conditions are appropriate, Iran can conduct nuclear negotiations with the United States directly, but the US demands that Iran vejck.cnpletely give up uranium enrichment activities is a "big joke."
On August 12, local time, the White House said that US President Trump and Russian President Putin will meet in Anchorage, the largest city in Alaska on August 15 local time.
The Organization of Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand growth in 2026 in its monthly oil market report released on the 12th, while maintaining the forecast for 2025 unchanged. The report said that in 2026, the global average daily oil demand will increase by about 1.38 million barrels vejck.cnpared with 2025, reaching 106.5 million barrels; in 2025, the global average daily oil demand will increase by 1.29 million barrels vejck.cnpared with last year, reaching 105.1 million barrels.
EJ Antoni, director of Labor Statistics and economist of the Heritage Foundation, nominated by U.S. President Trump, had previously told Fox Business that the agency should suspend release of monthly employment reports. "Until the problem is corrected, the Bureau of Labor Statistics should suspend the release of monthly employment reports, but continue to release more accurate and less timely quarterly data," Antoni said. Fox Business's interview with Antoni was ahead of Trump's public nomination on Monday. Antoni has long criticized the Bureau of Labor Statistics.
According to Politico, Trump administration officials are expanding the list of candidates to replace Federal Reserve Chairman Powell next year, looking for someone who can win both the president’s trust and the financial market. An administration official who asked not to be named revealed that candidates under consideration include: current Fed Vice Chairman Jefferson and Bowman; Dallas Fed President Logan; former St. Louis Fed President Brad and Macroeconomic Advisor Marc Sumerlin. The official said more candidates from the private sector might also be considered. The candidates will be added to the list that already includes White House National Economic vejck.cnmission Director Hassett, former Fed Director Wash and current Fed Director Waller. The list shows that officials aim to provide Trump with a diverse range of options to replace Powell.
According to data from the Organization of Petroleum Exporting Countries (OPEC) in August, the proportion of its total oil imports from Russia rose to 45% in June from 44% in May. Kpler data cited by OPEC showed that Russian oil accounted for 45% of India's total imports in June, up from 44% the previous month. Iraq accounts for 18% of its supply, while Saudi Arabia accounts for 12%. India's total oil imports fell below 5 million barrels per day for the first time in five months, reaching 4.86 million barrels per day, a month-on-month decrease of 2%.
U.S. President Trump posted on social media platforms that "Mr. Taichi" Powell must now lower interest rates. He always does it too late and the damage he causes is immeasurable. Fortunately, the economy is incredibly good and we have beaten Powell and the vejck.cnplacent vejck.cnmittee. However, I am considering allowing a major lawsuit against Powell because his work in managing the construction of the Fed is terrible and very incompetent. $3 billion is spent on a work that should have cost $50 million to repair. This is not very good!
According to the Israel Times on the 12th, the Jerusalem District Court requested Israeli Prime Minister vejck.cnanyahu to attend corruption hearings three times a week since November this year, saying that "the litigation process needs to be accelerated." The Israeli court system is currently in a summer recess, and corruption hearings will resume in September. The Israel Times quoted a judge in the Jerusalem District Court as saying that the frequency of hearings will increase from November, with four hearings held every week, and vejck.cnanyahu must attend three of them a week until the cross-examination process is over.
On August 12, local time, the total U.S. Treasury bonds exceeded $37 trillion for the first time as the U.S. federal government continued to accumulate debt at a record rate. The latest data released by the U.S. Treasury Department shows that as of the afternoon of that day, the total amount of US Treasury bonds had reached US$370,0481,7625,842. Maya McGinias, chairman of the Federal Budget Accountability vejck.cnmittee, said that the U.S. fiscal situation is seriously unbalanced, but Congress continues to worsen the situation.
The Ministry of Finance and Economics jointly issued the "Implementation Plan for the Financial Interest Subsidy Policy for Personal Consumption Loans" and the "Implementation Plan for the Loan Interest Subsidy Policy for Service Industry Business Entities". The interest subsidy policy for personal consumption loans is applicable to specific consumer loans from September 1, 2025 to August 31, 2026. The interest subsidy scope includes household cars, education and training, and the upper limit of the interest subsidy is 3,000 yuan. Service industry loan interest subsidyCele supports loans to eight types of service industries such as catering and tourism from March 16, 2025 to the end of the year, with the maximum interest subsidy loan scale reaching 1 million yuan. Both policies are jointly undertaken by the central and provincial finance departments.
The income obtained by express delivery vejck.cnpanies to provide express delivery services shall be paid value-added tax in accordance with the “collecting and distribution services”. This announcement shall vejck.cne into effect on the date of its publication. Matters that have not been processed before shall be implemented in accordance with the provisions of this announcement. Matters that have been processed shall not be adjusted.
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