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According to the Financial Times, Warner Music (WMG.O) has reached a licensing agreement with artificial intelligence startup UDIO to power a new streaming platform based on its songs.November 20th - JPMorgan Chases trading arm stated that the longest losing streak for U.S. stocks since August has created opportunities for bargain hunters. The S&P 500 fell for four consecutive days, accumulating a 3.4% drop by Tuesdays close, as investors worried about the sustainability of the artificial intelligence rally and the Federal Reserves monetary policy path. Andrew Tyler, JPMorgan Chases global head of market intelligence, said this pullback represents a "technical shakeout" in the stock market, and the correction period may have ended. "Given that there have been no changes in the fundamentals, and our investment assumptions do not rely on the Fed easing policy, now is the time to buy on the dips," Tyler wrote in a report to clients on Wednesday.On November 20th, an institutional analysis pointed out that the minutes of the Federal Reserves October policy meeting may more clearly reveal the differences of opinion among policymakers. At that time, policymakers not only faced the predicament of a lack of official data but also had to weigh conflicting market signals, coinciding with the crucial transition period for Chairman Powell in his final months in office. The meeting last month unusually saw dissenting voices simultaneously supporting both easing and tightening monetary policies. After the Fed voted 10-2 to cut interest rates by 25 basis points, Powell acknowledged "serious disagreements" at the press conference. The interruption of official data releases before the October meeting due to the US government shutdown forced officials to rely on alternative information for assessment, which may have exacerbated their growing caution regarding further rate cuts. "A growing number of members believe that we should at least pause our observation for one cycle," Powell told reporters last month. Although government economic data releases are gradually resuming (the September non-farm payroll report will be released on Thursday), the release schedule for the missing data remains unclear, and it is uncertain what information will be available before the Feds next meeting in December.Sources say the US-proposed solution to end the conflict includes numerous provisions, such as Ukraine relinquishing some territory and weapons, and reducing the size of its armed forces. The US has indicated to Ukrainian President Zelensky that Ukraine must accept this framework and its main contents.The German DAX 30 index closed down 3.89 points, or 0.02%, at 23,169.16 on Wednesday, November 19; the UK FTSE 100 index closed down 43.63 points, or 0.46%, at 9,508.67 on Wednesday, November 19; the French CAC 40 index closed down 14.16 points, or 0.18%, at 7,953.77 on Wednesday, November 19; European... The Stoxx 50 index closed up 8.02 points, or 0.14%, at 5541.55 on Wednesday, November 19; the Spanish IBEX 35 index closed up 61.31 points, or 0.39%, at 15884.51 on Wednesday, November 19; and the Italian FTSE MIB index closed down 211.64 points, or 0.49%, at 42627.00 on Wednesday, November 19.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

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Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

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