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Futures News, August 4th, Economies.com analysts latest view today: Spot gold prices have retreated, giving back some of their previous gains, attempting to gather new upward momentum to support a subsequent rebound and rise. The current price trend is intended to digest the obvious overbought conditions on the RSI indicator, especially against the backdrop of the initial negative superposition signal, indicating that the market needs more stable trading to await the resumption of the subsequent upward trend.Futures News, August 4th. Economies.com analysts present their latest analysis today: WTI crude oil futures prices continue to decline, primarily driven by a negative intraday technical pattern, a head-and-shoulders top. This decline was accompanied by a break below a small upward trending channel, further exacerbating selling pressure. The break below the EMA50 support level adds to the near-term negative pressure and increases the likelihood of a continuation of the bearish trend unless upward momentum resumes quickly.Futures News, August 4th. Economies.com analysts latest view today: Brent crude oil futures prices fell sharply during the session, retreating to the current support level of $69.00. However, the decline has narrowed, primarily due to the Relative Strength Index (RSI) reaching oversold levels and the emergence of positive overlapping signals. These factors may prompt a cautious technical rebound in prices, attempting to correct the current oversold conditions and, in the process, recover some of the previous losses.On August 4th, Barclays now believes the European Central Bank is likely to choose to cut interest rates once in December, rather than the previously predicted September cut. Mariano Sina, an economist at the bank, said this revision takes into account the weakness in economic activity in the second half of the year, caused by the continued drag from trade policy and the impact of earlier, front-loaded US imports. Barclays expects that by December, signals regarding trade headwinds will be clearer and concerns about the impact of supply chain disruptions on inflation will decrease. Furthermore, increased confidence that the 2026 fiscal plan will not reignite inflationary pressures is likely to support a 25 basis point rate cut. Barclays expects the ECBs terminal deposit rate to remain at 1.75% through 2026.According to the Financial Times: BP will report on cost cuts as pressure from activist investor Elliott intensifies.

Argo Tests Driverless Vehicles on The Streets of Miami And Austin

Aria Thomas

May 18, 2022 10:01

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Tuesday, self-driving firm Argo AI said that its employees would be transported in driverless vehicles through the streets of Miami, Florida and Austin, Texas, with commercial applications to come at an indeterminate period.


Argo, which is supported by Ford Motor (NYSE:F) Co and Volkswagen AG (OTC:VWAGY), has tested its robotaxis on public roads in both cities for a number of years, although safety drivers have always been present.


"Argo is the first to go driverless in two major American cities, securely operating among high traffic, pedestrians, and bikers in the busiest districts," said Bryan Salesky, chief executive officer of Argo AI.


The startup permits ride-hailing, delivery, and logistics firms to integrate its autonomous vehicles into their operations.


A spokesperson for Argo AI stated that ride-hailing service Lyft Inc (NASDAQ:LYFT) and retail-grocery chain Walmart (NYSE:WMT) Inc were incorporating the technology in trial programs.


"Our driverless operations are initially focused on performing employee rides utilizing our in-house designed ride hailing test software," the spokesperson explained. We will integrate driverless vehicles into commercial operations when the time is right.


Lyft, which sold its own autonomous driving technology company a year ago, joined with Argo AI and Ford in July. By providing routing, customer interface, and fleet management services, the ride-hailing company plans to "get the maximum amount of income" from the robotaxis.


Walmart said in September that it would launch an autonomous car delivery service in Miami, Austin, and Washington, D.C. in partnership with Argo AI and Ford.


Self-driving businesses have frequently delayed timeframes for providing genuinely driverless rides on a large scale, with only a handful of limited fully autonomous programs available in the United States.


Human drivers account for around 80% of the per-mile cost of conventional ride-hailing services. Self-driving businesses must recoup billions of dollars in development expenditures and determine how to efficiently grow, manage, and repair vehicle fleets.