• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 18, Bloomberg reported on the 17th that a Spirit Airlines passenger plane had an "uncomfortably close encounter" with Air Force One, the plane carrying President Trump, on the 16th. The report said that Trumps plane was en route to London when it encountered the Spirit Airlines plane over New York City. The two planes were approximately 10 to 13 kilometers apart, about to exceed the safe distance limit, and their flight paths intersected. A recording of an air-to-ground conversation cited in the report showed that the air traffic controller urgently called out to the pilot of the budget airliner, asking him to adjust his course, but the pilot did not respond in time. The air traffic controller then reminded the pilot, "Pay attention to the 747 a few miles away. I believe you can recognize it." Because the pilot did not respond in time, the air traffic controller also scolded the pilot, "Be careful, stop playing with your iPad!"Futures data from September 18th showed a significant downward pressure on copper prices, likely driven by risk aversion ahead of the Federal Reserves interest rate meeting. With expectations of a rate cut materializing and the Feds overall neutral stance, copper prices retreated from their highs during the US trading session. The Fed cut rates as expected, but Powell, in a post-meeting statement, stated the move was a risk management decision, adding that he saw no need for a rapid rate adjustment. While global raw material tightening has eased, supply-side pressures have yet to materialize. Demand for end-consumption remains uncertain, along with the macroeconomic environment. In the short term, copper prices are looking for a breakout driver after hitting the upper limit of volatility, with the market fluctuating between "recession" and soft landing scenarios. The September Fed meeting was uneventful, and while a major upward macro driver has yet to materialize, the long-term supply-demand imbalance remains the primary concern. For now, high volatility is likely to persist until real conditions improve. Trading remains cautious regarding changes in demand and the overseas macroeconomic environment.On September 18th, Meta Platforms (META.O) announced the launch of a new generation of Ray-Ban smart glasses, with significantly longer battery life and 3K video recording capabilities. The technical name of this new pair of glasses is Ray-Ban Meta Gen 2, with a starting price of US$379. At the same time, Meta also launched its first glasses with a built-in display. The latest model is Meta Ray-Ban Display, with a starting price of US$799. The glasses have a built-in screen in the right lens, which can display text messages, video calls, turn-by-turn map navigation, and visual query results of Meta AI services. These glasses also introduce a new control system. Although users can still operate them by swiping along the frame like previous models, the main interface is controlled by a wristband worn on the hand that recognizes gestures. At the same time, Meta also announced the launch of Oakley Vanguard smart glasses, which are targeted at athletes.Meta Platforms (META.O) announced the establishment of Meta Horizon Studio.Meta Platforms (META.O): Ray-Ban Display smart glasses start at $799 and will be available starting September 30.

Before the US PMI is released, the gold price is expected to rise beyond $1,740 per ounce

Daniel Rogers

Aug 23, 2022 14:48

 截屏2022-08-22 下午5.31.01_1024x576.png

 

On the back of conflicting forecasts for US Purchasing Managers Index (PMI) data, the gold price (XAU/USD) is trying to break above $1,740.00. A new monthly low of $1,727.85 was recorded for the precious metal on Monday, but it has since rallied strongly. Given the lack of impetus in the upward trend, the gold price is likely to stay volatile. However, a pullback may be less profitable.

 

The consensus for the S&P Global Manufacturing PMI is 51.5, which is down from the prior reading of 52.2. When compared to its previous reading of 47.3, the Services PMI has room to grow.

 

The yellow metal has been supported by the disappointing early estimates of US Durable Goods Orders. From a previous release of 2%, the market expects the economic figures to sharply decrease to 0.5%. It's important to note that the most recent reading showed no change in underlying pricing pressures, which stood at 5.9%. So, we expect to see little change, if any, in the Durable Goods Orders numbers. Unfortunately, a precipitous drop in economic statistics portends a precipitous drop in demand.

 

The other thing that will be in the spotlight is Federal Reserve (Fed) chair Jerome Powell's remarks from the Jackson Hole Economic Symposium. US economic conditions and Fed Powell's direction on inflationary pressures and interest rates will be determined by him.

 

Gold prices on an hourly scale are looking to continue their recovery after breaking above the $1,729.44 61.8% Fibonacci retracement (set from the low of $1,680.91 on July 21 to the high of $1,807.93 on August 10). Gold has been testing the resistance of the 20-period Exponential Moving Average (EMA) around $1,738.00; a sustained move above this level would signal a change in trend toward the bullish side.

 

Furthermore, the Relative Strength Index (14), which had been negative in the 20.00-40.00 range, has moved into the bullish 40.00-60.00 zone, indicating that gold prices are currently not bearish.