MNI China Daily Summary: Wednesday, March 12

MNI BRIEF:Direction Of Inflation Shocks Harder To Call-Lagarde

MNI BRIEF: EU Targets Retaliation Tariffs On US Red States

MNI BRIEF: Brazil's IPCA Inflation Rises To 5.03% In February

MNI BRIEF: China To Boost Environmental Equipment Industry

MNI BRIEF: China SME Index Highest Since June 2021

MNI: US FEB CPI UNROUNDED M/M 0.216%, CORE 0.227%

MNI: US FEB SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.215%

MNI: US FEB CPI 0.2%, CORE 0.2%; CPI Y/Y 2.8%, CORE Y/Y 3.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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GOLD: Gold Adds to Overnight Gains. 

GOLD
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  • Golds stellar start to 2025 continued today, with bullion hitting new all time highs.
  • Having hit new highs yesterday, gold opened in Asia this morning at US$2842.71 and traded up for most of the day reaching a high of $2,858.17.
  • China’s retaliation in the trade war yesterday came from Beijing yesterday when they announced tariffs on US energy imports, oil, agricultural equipment, announced key US companies were to be place on a blacklist and that Google were to be investigated for anti-trust violations.
  • Whilst the tariff news was brushed off by many equity markets, the USD weakened, giving room for gold to rally.
  • Gold enjoys ‘safe haven’ status as an asset, and investors typically buy it in volatile times.
  • Equally gold performs well in a rate cutting environment or times when the USD weakens, as seen overnight.
  • The day ahead for gold will ebb and flow on any new headlines on tariffs.
  • Whilst no ‘new news’ came out of China, the surge in gold today can likely be partly to do with traders playing catch up post Lunar New Year holidays. 
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  • Golds stellar start to 2025 continued today, with bullion hitting new all time highs.
  • Having hit new highs yesterday, gold opened in Asia this morning at US$2842.71 and traded up for most of the day reaching a high of $2,858.17.
  • China’s retaliation in the trade war yesterday came from Beijing yesterday when they announced tariffs on US energy imports, oil, agricultural equipment, announced key US companies were to be place on a blacklist and that Google were to be investigated for anti-trust violations.
  • Whilst the tariff news was brushed off by many equity markets, the USD weakened, giving room for gold to rally.
  • Gold enjoys ‘safe haven’ status as an asset, and investors typically buy it in volatile times.
  • Equally gold performs well in a rate cutting environment or times when the USD weakens, as seen overnight.
  • The day ahead for gold will ebb and flow on any new headlines on tariffs.
  • Whilst no ‘new news’ came out of China, the surge in gold today can likely be partly to do with traders playing catch up post Lunar New Year holidays.