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The Indonesian rupiah fell 0.6% to 16,515 per dollar, its lowest level since May 15.On September 18th, Huawei launched the Atlas 950 SuperPod and Atlas 960 SuperPod supernodes at the Huawei Connect Conference. Huawei Vice Chairman and Rotating Chairman Eric Xu stated that, based on the worlds most powerful supernodes and clusters, Huawei is confident in providing sustainable and sufficient computing power for the long-term rapid development of artificial intelligence. Huawei also pioneered supernode technology in general-purpose computing, launching the TaiShan 950 SuperPod, the worlds first general-purpose computing supernode. Xu stated that, combined with the GaussDB distributed database, it can completely replace mainframes and minicomputers, as well as the Exadata database appliance, in various application scenarios, becoming the end-all for mainframes and minicomputers. At the end of his speech, Xu revealed that Huawei has overcome the enormous technical challenges of interconnecting large-scale supernodes and launched the Unified Bus (UnifiedBus) interconnection protocol for supernodes. Huawei will openly release the Unified Bus 2.0 technical specifications in the future.On September 18th, Barclays economists noted that risks to the Federal Reserves interest rate path are leaning toward delaying rate cuts. In a research note, they suggested this could occur if inflation data in early 2026 consistently show strong price increases, or if tariffs boost non-commodity prices amidst a moderate rise in unemployment. Conversely, they added, a sudden surge in unemployment could prompt the Federal Open Market Committee (FOMC) to adopt more aggressive rate cuts. Barclays projects that the FOMC will maintain interest rates unchanged through 2026 until monthly inflation data show signs of slowing and provide confidence that inflation is returning to its 2% target.On September 18th, Allspring Global Investments strategists George Bory and John Campbell wrote in a commentary that the stock market could benefit if the Federal Reserve adopts an accommodative policy approach that is "neither too much nor too little." They stated that continued stock market strength and increased market participation depend on the Feds ability to strike a delicate balance amid uncertainty about tariffs: providing enough accommodative policy to avoid a recession while keeping inflation under control. The strategists added that falling fixed-income rates could also enhance the attractiveness of high-yield stocks as an alternative.On September 18th, Goldman Sachs raised its expectations for SenseTime (00020.HK)s ToC business expansion, predicting the company will begin monetizing through monthly or annual subscription fees after offering new users a free trial. SenseTime has expanded beyond productivity tools to include ToC generative AI applications, including Raccoon Office AI and Kapi Accounting AI. These applications leverage deep analytical capabilities powered by SenseNovas foundational models to address AI-native issues. At the same time, the company offers AI industry solutions for high-demand scenarios, covering market analysis, sales analysis, product development, and enterprise management. This model differentiates it from other AI applications. The bank maintained its "buy" rating on SenseTime, raising its target price from HK$2.72 to HK$3.09. It also lowered its net loss forecasts for 2026 and 2027 to RMB 964 million and RMB 198 million, respectively, and raised its profit forecasts for 2028, 2029, 2030, and 3%, respectively.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

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Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.