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On September 17th, Huawei Connect 2026 opened in Shanghai. Wang Tao, Huaweis Deputy Chairman and Rotating Chairman, stated at the conference that, to date, over 1,000 Ascend 910C supernodes have been deployed, and the Ascend 950 supernode has also been commercially deployed on a large scale. With its large-scale commercial application, supernodes have become an inevitable choice for building ultra-large-scale AI infrastructure. Wang Tao explained that a supernode is a computing system physically composed of multiple computing nodes tightly connected through efficient interconnect protocols, possessing unified memory addressing capabilities across physical nodes, and logically exhibiting the characteristics of "a single computer." It has become a consensus among industry, academia, and research institutions in the field of AI infrastructure. Wang Tao mentioned that currently, 100,000-card clusters have become the standard for training trillion-level state-of-the-art (SOTA) models, but traditional server architectures result in intra-cluster communication accounting for over 40% of training time, severely restricting MFU (Model Floating-Point Utilization). According to simulation results from Huaweis Markov Lab, a 100,000-card cluster composed of 4K supernodes has a 2.75-fold increase in MFU (Mean Functionality Rate) compared to a 100,000-card cluster composed of 8-card servers.Ferrari and Lotte signed a cooperation agreement, effective January 1, 2027.1. BNP Paribas: Expects the Bank of England to raise interest rates by 25 basis points in November, down from its previous forecast of a September hike. 2. Reuters: Economists unanimously predict the Bank of England will keep rates unchanged in September, with most believing a rate cut is more likely than a hike next year. 3. Evercore ISI: The UK market is clearly pricing in a divergence between policy expectations and market expectations. The market has already priced in approximately 4.5 rate hikes over the next year, but the Bank of England remains reluctant to raise rates. 4. Goldman Sachs: Market pricing in the Bank of England remains too hawkish. It expects the bank to keep rates unchanged for the remainder of 2026 before starting rate cuts in 2027. 5. Citigroup: Expects the Bank of England to raise rates by 25 basis points each in the fourth quarter of 2026 and the first quarter of 2027, down from its previous forecast of rates remaining unchanged until the second quarter of 2027. 6. Franklin Templeton: With a cooling labor market and a weakening economic outlook, UK government bonds are currently attractive, and future policy may be more accommodative than the market prices. 7. JPMorgan Chase: Expects to hold rates steady this week to avoid further reinforcing market expectations of a rapid tightening cycle, but a rate hike is anticipated in November, as energy price movements suggest inflation may peak at 3.9% by February next year. 8. HSBC: There is currently insufficient evidence to prompt members of the Monetary Policy Committee to change their voting intentions. Therefore, as things stand, the majority is expected to maintain the current rate. 9. ING: Expects the Bank of England to maintain the interest rate at 3.75% by a 6-3 vote on September 17th, with rate cuts in April and November next year, although these cuts may be delayed. The QT program is expected to decrease to £50 billion over the next 12 months, down from £70 billion last year. 10. Danske Bank: The baseline scenario remains unchanged until the second quarter of 2027, at which point a rate-cutting cycle will resume. The vote tonight is likely to be 6-3. However, if energy prices remain high and the economy remains resilient, the Bank of England may eventually raise rates even if inflation has not yet spread significantly. 11. Oxford Economics: Given the limited impact of the second round of inflation, there is room to maintain interest rates. Green, Pierre, and Mann are expected to continue supporting a rate hike, with the vote remaining 6-3. Despite soaring oil and gas prices, most members are likely to remain patient and maintain a hawkish stance rather than an immediate rate hike.The governor of Rostov Oblast, Russia, said that about 50 drones were shot down in the large-scale attack on Rostov by Ukraine.Volvo Cars: Plans to launch 13 new models between now and the end of 2030.

International gold prices still look at US$1,727

Oct 26, 2021 10:59

On Thursday (October 7), international gold prices continue to be under pressure, and the market outlook is still looking at $1,727. However, the weak upside of the U.S. index limited the decline in gold prices. Investors turned to wait and see before the US non-farm payrolls report was released, and it is expected that the report will provide clues to the Fed's reduction schedule.

At 14:20 GMT+8, spot gold fell 0.11% to US$1760.81 per ounce; the main COMEX gold contract fell 0.03% to US$1761.2 per ounce; the US dollar index fell 0.01% to 94.218.


Investors turned to the US non-agricultural employment data to be released on Friday (October 8), which is expected to show an improvement in the labor market, which is an important criterion for the Fed to begin to reduce support measures during the epidemic. Data released overnight showed that private employment in the United States increased strongly in September.

Bob Haberkorn, senior market strategist at RJO Futures, said: “Gold’s hedging appeal is not as attractive as other safe assets, and its performance largely depends on US non-agricultural employment data. Prior to this, the price of gold may be trending sideways.”

Fu Xiao, director of the Commodity Strategy Department of BOC International, said that even though the non-agricultural employment data is “not beautiful, but just in line with expectations,” some Fed members have believed that the conditions for reducing debt purchases have been met, which has put pressure on gold.

On the daily chart, the price of gold has started a three-wave downward trend from US$1770. The support below looks to the 23.6% target of US$1744 and the 38.2% target of US$1727. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.