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August 18th - In recent years, the industrialization of sodium-ion batteries in my country has accelerated, leading to rapid industry development. With the continuous iteration and improvement of battery safety standards, the nail penetration test, as a core test simulating mechanical abuse and verifying the risk of internal short circuits within the cell, has become a key indicator for power battery safety assessment. Currently, sodium-ion battery technology is rapidly industrializing, and products are continuously upgrading towards higher energy density and higher integration. To this end, the Lithium-ion Battery and Similar Product Standards Working Group of the Ministry of Industry and Information Technology has officially launched a special preliminary assessment of sodium-ion battery nail penetration testing, covering products of different energy densities to conduct systematic safety verification, helping companies to identify potential safety hazards in advance, optimize product design, and support the unified implementation of industry standards.August 18th - Due to heightened uncertainty both domestically and internationally, and continued weak demand for labor, UK employers further increased job cuts in July. Data released by the Office for National Statistics (ONS) on Tuesday showed that the number of employees in businesses fell by 13,000 in July, following a similar decline the previous month. The UK unemployment rate remained unchanged at 4.9% in the three months to June, but the ONS warned that the quality of the data had declined due to errors in the data collection process. The number of job vacancies decreased further. Although some recent data suggests the job market is stabilizing, businesses appear reluctant to hire due to increased uncertainty surrounding the Iran war and the upcoming budget from new Prime Minister Burnham later this year. For nearly two years, jobs have been declining due to a weak economic environment and the Labour governments increases in payroll tax and minimum wage. The ONS stated that private sector wage growth, excluding bonuses, slowed to 2.8% in the three months to June from 2.9%, the lowest level in nearly six years.August 18 - According to the Iranian news agency IRNA, the mayor of Minabu, Iran, stated that the construction of the largest science and electronics center in southern Iran will commence in the city, with an investment of 700 billion rials. This project is expected to bring significant changes to the countrys science and electronics infrastructure and local employment.The European-Mediterranean Seismological Centre reports a 6.1-magnitude earthquake that struck Sumatra, Indonesia.Euro Stoxx 50 futures fell 0.47%, German DAX futures fell 0.42%, and UK FTSE futures rose 0.07%.

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%.

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