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On July 13, Aravind Srinivas, CEO of US AI search startup Perplexity, said on social media that based on the good performance of the Kimi K2 model, the company may use K2 for post-training in the future. DeepSeek R1 was also used by Perplexity for model training. K2 is a trillion-parameter open source model recently released by Kimi, which emphasizes code capabilities and general agent task capabilities.July 13, analysts said that financial markets, which have become increasingly insensitive to U.S. tariff threats, will face a test when they open on Monday after Trump announced over the weekend that he would impose 30% tariffs on the European Union and Mexico from August 1. Trump has recently stepped up trade measures, promising to impose more tariffs on everything from Canada to Brazil to Algeria and inviting trading partners to further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to take it lightly, investors have so far reacted as if they were counting on the U.S. president to back down again because they have seen the previous 180-degree turn. Brian Jacobsen, chief economist at Annex Wealth Management, said: "Investors should not just treat Trumps threat of a 30% tariff on EU goods as a bluff. This tariff level is punitive, but it may hurt the EU more than the United States, so the clock is counting down."On July 13, French President Emmanuel Macron posted on social media on the 12th that France and the European Commission strongly opposed the US announcement that day to impose a 30% tariff on EU exports from August 1. Macron wrote that in the context of EU unity, the European Commission should demonstrate the EUs determination to defend its own interests. If Europe and the United States cannot reach an agreement before August 1, the EU should mobilize all tools, including anti-coercion mechanisms, to speed up the preparation of "credible countermeasures." France supports the European Commission and the United States to step up negotiations in order to reach an agreement acceptable to both sides before August 1.European Council President: The EU remains fully supportive of efforts to reach a fair agreement with the United States.July 12, Mathieu Savary, chief European strategist at BCA RESEARCH: Trumps strategy is to make outrageous demands, then let them fall through, and then once again try to win some last-minute concessions and then reach a trade deal. We remember a framework during Trumps first presidency, and thats whats happening now. It doesnt matter what is said now; what matters is where we will land. It is expected that the EU will eventually "have to accept a 10% tariff, but this is something the EU can actually deal with.

Gold Price Futures (GC) Technical Analysis: Struggling to Surpass the $1798.50-$1822.60 Retracement Zone

Daniel Rogers

Aug 08, 2022 12:01

 截屏2022-08-08 上午11.39.58.png

 

Gold futures are trading lower soon after the midpoint of Friday's session after an unexpectedly robust U.S. job market report allayed fears of a recession and dashed rumors that the Federal Reserve will abandon its aggressive monetary policy tightening.

 

At 18:05 GMT, the Comex gold price for December decreased $15.10, or 0.84 percent, to $1791.80. The SPDR Gold Shares ETF (GLD) has fallen $1.88, or 1.13 percent, to $165.29.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Non-Farm Payrolls grew by 528,000 last month, which above the estimates of the Dow Jones by 258,000. Similarly, pay growth increased, with average earnings increasing 0.5% for the month and 5.2% over the previous year. The unemployment rate has dropped to a pre-pandemic low of 3.5%. The stronger-than-expected result demonstrated that the United States is probably not in a recession.

 

On the assumption that the U.S. economy was faltering, gold dealers had priced in a shift by the Fed from hawkish to slightly dovish for around a week. The economy is robust enough to withstand an additional 75 basis point rate hike at the Fed's next meeting on September 21.

 

This may be sufficient to temporarily restrict gold prices, although some traders may await confirmation from Wednesday's U.S. consumer inflation report.

 

The daily swing chart indicates that the primary trend is upward. A transaction above $1812.00 will indicate a continuation of the uptrend. A breach of $1727.00 will reverse the tendency to decline. Even the modest tendency is upward. A transaction above $1770.00 will reverse the modest trend up. Consequently, momentum will turn to the negative. The intermediate price range is between $1900.80 and $1696.10. The resistance zone between $1798.50 and $1822.60 is its retracement zone. It ended the rally at $1812.00 on Thursday.

 

The range for the first minor is $1770.00 to $1812.00. Its pivot point at $1791.00 represents the initial downward objective. The range for the second minor is $1727.00 to $1812.00. The pivot point is the next negative target at $1769.50. The third pivot price objective is $1754.10

 

The direction of the December gold futures contract on the Comex will likely be dictated by trader reaction to a pair of 50 percent levels located at $1798.50 and $1791.00 as of Friday's closing bell. Expect the upward bias to persist on a persistent rise over $1798.50, and the negative bias to emerge on a sustained decline below $1791.00.

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