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On April 11th, Haidilao issued a statement regarding the incident of a Haidilao employee being forced to buy gifts at their own expense due to a customer complaint. The statement reads as follows: At 9:57 AM on April 7th, we received an internal complaint from the employee. We contacted the employee at 2:18 PM that same day and simultaneously forwarded the complaint to the regional office for verification and processing. From April 8th to 9th, the company investigated the employees complaint and confirmed on the 9th that the employees account was largely true. On April 10th, the company discussed compensation with the employee. We solemnly promise to compensate the employee in accordance with the law and to express our sincere apologies in person or through other channels according to the employees wishes. Due to concerns about similar situations in other stores, at 10:00 AM on April 10th, we notified over 1,000 stores to conduct internal investigations. These investigations are ongoing, and we will handle any similar cases appropriately in accordance with the law.US President Trump: Our oil reserves are more than the next two largest oil-producing economies combined, and they are of higher quality.On April 11, Indonesian Foreign Minister Sujiyono stated in an interview that the China-Pakistan five-point initiative is a pragmatic measure to promote peace negotiations, achieve a permanent ceasefire, strengthen civilian protection, and normalize economic relations, and Indonesia welcomes it. Sujiyono said that since the beginning of the US-Israel-Iran conflict, Indonesia has called on all parties to immediately cease hostilities and return to the negotiating table to strive for a solution through means consistent with international law. The China-Pakistan five-point initiative prioritizes dialogue and diplomatic channels, which is conducive to creating the necessary conditions for achieving peace, stability, and security in the region and beyond. Recently, China and Pakistan issued a five-point initiative on restoring peace and stability in the Gulf and the Middle East, calling for a cessation of hostilities, the commencement of peace talks as soon as possible, and ensuring the safety of non-military targets, the safety of shipping lanes, and the primacy of the UN Charter.On April 11, sources revealed that the Bank of England plans to discuss the impact of Anthropics newly launched artificial intelligence model with financial institutions. British regulators are joining their counterparts in the US and other countries in warning of the risks posed by this tool. Anthropics Mythos model will be on the agenda of the Bank of Englands next Cross-Market Operations Resilience Group and CMORG Artificial Intelligence Task Force meetings, both scheduled for the next two weeks. The Federal Reserve and the Treasury have already held emergency meetings on the matter, and the Bank of Canada also met with banks and financial companies on Friday to discuss the cybersecurity risks posed by Mythos. These meetings reflect growing concerns among regulators that a new type of cyberattack is becoming one of the biggest risks facing the financial industry.Ukrainian President Zelensky: 175 Ukrainian soldiers and 7 civilians have returned home.

Natural Gas fails to find firmer traces, eaches a new 33-month low near $2.13 per barrel

Daniel Rogers

Apr 03, 2023 14:10

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Natural Gas (XNG/USD) price disregards Oil's rally and falls to a new 33-month low near $2.13 on Monday morning. The energy instrument's recent volatility may be attributable to concerns about milder weather in the West, as well as the US Dollar's recent rebound ahead of March's crucial employment report.

 

In spite of this, the Organization of Petroleum Exporting Countries (OPEC) and its allies, headed by Russia and known as OPEC+, unexpectedly announced a 1.16 million barrels per day output reduction, which exacerbated inflationary concerns. As a result, traders may reevaluate their prior optimism regarding future inflation ease, which encourages central policymakers to maintain their hawkish bias and permits the US Dollar to nurse its wounds. As of press time, the US Dollar Index (DXY) is up 0.33 percent intraday near 102.32.

 

Not only did OPEC+-induced inflation concerns and a stronger US dollar weigh on XNG/USD prices, but China's disappointing PMI data also contributed to the decline.

 

China's Caixin Manufacturing PMI for March decreased to 50.0 from 51.6 previously and 51.7 market forecasts.

 

On a separate page, discussions of milder weather in the West and increased gas supplies from Germany exert downward pressure on the XNG/USD exchange rate.

 

In light of these maneuvers, the price of Natural Gas may continue to be under pressure toward the $1.53 mark in 2020. However, today's US ISM Manufacturing PMI and S&P Global Manufacturing PMI for March can provide intraday guidance for commodity prices before Friday's US Nonfarm Payrolls report. (NFP).