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On September 21, Ingenic Semiconductor (03696.HK) announced a multi-million dollar collaboration agreement with a leading fundamental modeling lab. The two companies will jointly develop, validate, and commercialize a range of cutting-edge models designed specifically for biological research, based on the MMAI Gym training framework.On September 21, Moodys Analytics stated in a report that Australias unemployment rate likely rose slightly to 4.6% in August from 4.5% in July. The report noted that economic activity is softening, partly due to successive interest rate hikes dampening demand. More intense competition for job vacancies and a declining trend in new job advertisements are signs of a weakening labor market. The relevant unemployment data is scheduled for release on Thursday.On September 21st, a groundbreaking ceremony was held in Kaohsiung, Taiwan, for a new advanced packaging industrial park. TSMC plans to establish facilities there for technology verification and talent training. At the ceremony, the Deputy Mayor of Kaohsiung stated that TSMC will construct two buildings in the Baipu Industrial Park, including a technology verification laboratory and a talent training center. These facilities are expected to be operational by the fourth quarter of 2029. The Baipu Park covers a total area of approximately 88.7 hectares (approximately 219.2 acres), of which approximately 53.6 hectares are designated for industrial use.September 21st - According to Iranian sources on the 20th, Iranian Foreign Minister Araqchi will visit Qatar to discuss the regional situation. Reports indicate that Araqchi left Tehran on the evening of the 20th for New York to attend the 81st UN General Assembly. He will first make a brief stop in Doha, Qatar, to discuss the current regional situation. Qatari Foreign Ministry spokesman Majid Ansari stated on the 20th that Qatar is maintaining communication with the United States and Iran, pushing for the resumption of negotiations between the two countries. He said that several US government officials have indicated that the US hopes to reach an agreement and end the conflict. Speaking at the Qatar Economic Forum in New York, Ansari stated that Qatar has been exchanging views with the United States and Iran over the past few weeks, and Qatar is working to bridge its differences. However, he did not provide a timetable for resuming negotiations.On September 21, Vice President Han Zheng met with Australian House Speaker John Dick in Beijing. Han Zheng stated that China and Australia are important partners. Last July, President Xi Jinping met with Prime Minister Albanese, charting the course for further positive development of bilateral relations. China is willing to work with Australia, guided by the important consensus reached by the leaders of the two countries, upholding the principles of equality, seeking common ground while reserving differences, and mutually beneficial cooperation, to enhance strategic communication, deepen mutually beneficial cooperation, strengthen multilateral coordination, properly handle differences, and promote the building of a more mature, stable, and fruitful comprehensive strategic partnership between China and Australia. Dick stated that this visit allowed him to personally witness the deepening economic and trade exchanges and close people-to-people ties between the two countries, and he was pleased to see the stable and fruitful development of Australia-China relations. Australia attaches great importance to Australia-China relations and adheres to the one-China policy. The Australian House of Representatives is willing to strengthen dialogue and exchanges with China, expand pragmatic cooperation, and bring benefits to the people of both countries.

Gold Price Prediction: XAU/USD oscillates about $1,650 as DXY recovers recent losses

Alina Haynes

Oct 25, 2022 15:24

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Gold price (XAU/USD) is indecisive while rebounding from intraday lows to $1,650 ahead of Tuesday's European session.

 

Nevertheless, the yellow metal attracted purchasers earlier in the day due to a weaker U.S. dollar, but the currency's recent resurgence looks to have weighed on the price recently. It should be mentioned that unfavorable concerns regarding China, one of the world's largest gold consumers, have recently posed a threat to the pricing of precious metals.

 

In the absence of Fed-speak, the US Dollar Index (DXY) gains bids to reclaim the 112.00 mark while trimming its first weekly loss in three weeks. It should be emphasized that the Fed's aggressive rhetoric and weak US PMIs also support the DXY's safe-haven appeal.

 

China's efforts to protect its struggling economy and worldwide pessimism regarding Xi Jinping's third term, not to mention Hang Seng's decline to a 13-year low, impose downward pressure on market mood and the XAU/USD exchange rate.

 

US 10-year Treasury rates continue under pressure around 4.21 percent, down two basis points (bps), while US stock futures and Asia-Pacific markets are moderately bid.

 

Moving forward, second-tier US Housing data and Consumer Confidence indicators may delight gold speculators before Thursday's third-quarter US Gross Domestic Product report (Q3).