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On September 13th, OpenAI founder Altman stated that OpenAI will not go public this year, as the company still has a significant amount of security work to complete. This statement comes against the backdrop of escalating concerns about a potential "doomsday scenario" triggered by the resignation of an Anthropic employee and their stern warnings regarding the capabilities of artificial intelligence. Altman said, "Now is not the right time to go public. I dont think it will be 2026. We have a lot of work to do." The market had initially expected both OpenAI and Anthropic to potentially conduct unprecedented IPOs this year. Altmans statement places more pressure on Anthropic CEO Dario Amodei regarding the IPO decision, especially after Amodei warned on Saturday that the development of artificial intelligence needs to slow down.OpenAI founder Altman: Given that OpenAI still has a lot of security work to do, the company will not go public this year.Canadian Prime Minister Mark Carney will meet for the first time with newly appointed British Prime Minister Andy Burnham in Liverpool, England, on September 13. The Prime Ministers Office said in a statement on Saturday that Carney will visit Strasbourg, France, and Liverpool, England, from September 15 to 17, during which time he will meet with Burnham, who took office as Prime Minister in July. The two leaders are expected to discuss defense and security, energy, artificial intelligence, and key minerals. Carneys meeting with Burnham comes at a time when the EU and Canada are seeking to establish a "comprehensive new relationship" covering trade and security. The two sides are drafting a comprehensive agreement, which is putting increasing pressure on Burnham, who has been seeking to strengthen ties with the EU.On September 13, Yemens Houthi spokesman Yahya Sarreya issued a statement on social media on the evening of September 12, local time, stating that Saudi warplanes had launched 129 airstrikes against Yemens Taiz, Marib, Hodeidah, Jawf, Saada, Amran, and Hajj provinces in the past 48 hours. The statement said the airstrikes were carried out by F-15 and Typhoon fighter jets, which took off from Saudi military bases in Khamis Mushait and Taif. Yahya Sarreya stated that the Houthis would "respond and punish" these attacks against the Yemeni people. The situation in Yemen has recently escalated sharply. The Houthis and Saudi Arabia have been exchanging attacks. Within Yemen, the Houthis have intensified their offensive, continuing clashes with the Yemeni government forces and the Saudi-led coalition, and have successively seized strategic locations along the Red Sea coast and the Bab el-Mandeb Strait.Tesla has announced a launch event on October 1st, but has not revealed any specific products.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.

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