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Volvo Cars Chief Technology Officer: We welcome dialogue with any partners who wish to collaborate, including any brand under the Geely Group.Citigroup downgraded Boston Scientific (BSX.N) from Buy to Neutral and lowered its price target from $57 to $50.On September 17, Russian Foreign Minister Sergey Lavrov stated at a social event that dialogue with the United States has not yielded any substantial results for Russia, and is not expected to. On September 5 and 6, US Presidential Envoy Witkov and Trumps son-in-law Jared Kushner visited Russia and Ukraine respectively, presenting a so-called "peace plan" to mediate the Russia-Ukraine conflict. The Russian and US leaders held a one-hour phone call on September 8, with both sides positively evaluating the results of the US envoys shuttle mediation. However, according to an interview released earlier on September 8, Lavrov revealed that the two core sticking points that have been hindering a complete end to the Russia-Ukraine conflict remain unresolved.On September 17th, the General Office of the State Council issued the "Opinions on Further Strengthening the Safety Supervision of the Entire Chain of Fireworks and Firecrackers," outlining measures to prevent and mitigate major safety risks and effectively curb accidents. The "Opinions" propose a series of specific measures to strengthen the safety supervision of the entire chain of fireworks and firecrackers, including production, storage, operation, transportation, and setting off. In the production stage, strict approval procedures for production enterprise access permits will be enforced, and the control of drugs and semi-finished products used in fireworks and firecrackers production will be strengthened to strictly control safety risks during the production process. The "Opinions" emphasize strengthening the quality and safety supervision of fireworks and firecrackers products, promoting product quality upgrades, conducting product quality supervision and spot checks in accordance with the law, and strictly prohibiting the production and operation of products that do not meet national standards, such as those exceeding drug dosage or specifications. The "Opinions" also emphasize strengthening the implementation and improvement of standards, enhancing the construction of the safety production standard system, leveraging the rigid binding role of mandatory standards, and promoting the comprehensive compliance of equipment and facilities in fireworks and firecracker enterprises. Finally, the "Opinions" stress strict enforcement of safety supervision, strengthening the connection between administrative and criminal law, strengthening in-depth investigation, tracing, and coordination throughout the entire chain, and severely cracking down on illegal activities.Market news: French President Macron will convene a meeting of leaders of political parties at 10:30 a.m. local time on Friday (4:30 p.m. Beijing time).

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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