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On July 1, Li Bin, founder, chairman and CEO of NIO, said on social media that the NIO World Model NWM has been pushed to ET9, new ES6, new EC6, new ET5 and new ET5T. This indicates that the application performance of the worlds first automotive-grade 5nm intelligent driving chip Shenji NX9031 developed by NIO has reached the design goal. The performance of a single Shenji NX9031 is equivalent to four NVIDIA Orin-X chips. The use of the Shenji NX9031 chip in vehicles will bring about a cost optimization of about 10,000 yuan per vehicle, significantly improving the gross profit margin of NIO vehicles.Tesla (TSLA.O) shares fell more than 7% in overnight trading in the U.S., and Trump posted that perhaps the Department of Government Efficiency should take a closer look at the subsidies received by Musk and his company.ECB board member Simkus: Inflation outlook remains fragile.ECB board member Simkus: The risk of inflation being lower than expected is greater than the risk of being higher than expected.Futures July 1, Economies.com analysts latest view today: Spot gold prices have continued their gains in recent intraday trading, reaching the top of the downward correction channel that limited its previous trend on a short-term basis, and trying to break through this range. Despite the increase in prices, negative pressure remains as trading continues below its EMA50 and (RSI) reaches overbought levels, which may put prices at risk of profit-taking or corrective pullbacks in the short term.

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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