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Google (GOOG.O) and Microsoft (MSFT.O) reported record numbers of discovered software vulnerabilities. The U.S. estimates the number of known cyber vulnerabilities is expected to significantly exceed 205.July 28th - According to the Financial Times, Nvidia (NVDA.O) has agreed to invest $5 billion in Safe Superintelligence, an AI startup led by OpenAI co-founder Ilya Sutskower, further strengthening the chipmakers partnership with one of Silicon Valleys most watched AI companies. Nvidia and SSI announced the deal on Monday as part of a "long-term partnership," with the startup utilizing Nvidias latest Vera Rubin hardware. Sources familiar with the matter said Nvidia has agreed to invest approximately $5 billion. Such large commitments typically come with startups reaching certain key milestones. Both companies declined to comment on the financial terms of the deal, only stating that the investment is "substantial." The funding will help SSI build the necessary computing power to leverage a research breakthrough it claims. The company stated that the investment will enable SSI to increase its available computing power tenfold over the next 12 months.U.S. Representative Nancy Mays has again called for a one-year halt to the construction of a new data center in South Carolina.Fitch Ratings: The correction in the artificial intelligence market is becoming a major credit risk.July 28 - According to Reuters, data from the U.S. Department of Energy shows that crude oil inventories in the U.S. Strategic Petroleum Reserve fell by approximately 3.7 million barrels last week, dropping to 307.7 million barrels, the lowest level since March 1983. This inventory reduction is part of an agreement reached by the United States to release 172 million barrels of crude oil from the reserve.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

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Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


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