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December 12th - According to data from Cox Automotiv, despite Tesla (TSLA.O) launching a cheaper version of its best-selling electric car, the companys sales in the US fell to their lowest level in nearly four years in November. US electric vehicle sales have been generally hampered since the Trump administration revoked the $7,500 federal tax credit at the end of September. In response to declining demand, Tesla launched simplified configurations of the Model Y and Model 3 in October, priced approximately $5,000 lower than the previous base models. While demand for the standard versions was expected to support November sales, Cox data shows that Teslas total sales for the month still fell by nearly 23% year-over-year, from 51,513 vehicles in the same period last year to 39,800 vehicles, the lowest level since January 2022.Cox Data: Despite Tesla (TSLA.O) launching the cheaper Model Y and Model 3, its sales in the U.S. fell to a near three-year low in November.Multiple sources familiar with the matter said that private equity firm Carnelian Energy Capital is preparing to sell its six oil and gas production investments in North America.Salesforce (Crm.N) has raised the price of applications that utilize its data.On December 12th, Apple (AAPL.O) persuaded a U.S. appeals court to overturn parts of a court order that required the company to adjust its lucrative App Store to promote greater competition. The Ninth Circuit Court of Appeals in San Francisco ruled in a lawsuit filed by Epic Games that parts of an order issued in April by a judge finding Apple in contempt of court for violating a previous ruling were too broad and needed to be amended. However, the appeals court upheld most of the contempt of court finding and the previous injunction against Apple. A three-judge panel amended a lower court ruling that prohibited Apple from charging any commission or fee for purchases not made on its platform. The appeals court stated that the trial judge must now amend this part of his order.

Gold Price Prediction: XAU/USD recovers from $1,860 support amid Fed and China worries

Alina Haynes

Feb 06, 2023 15:17

截屏2023-01-19 下午3.43.28.png 

 

Gold price (XAU/USD) consolidates recent losses as it posts modest gains near $1,875 in early Monday trading, marking the first positive day in three sessions near the one-month low. In doing so, the precious metal applauds the U.S. dollar's struggle to maintain its strength and draws cues from US-China disputes in advance of this week's major events.

 

In spite of this, the US Dollar Index (DXY) remains stagnant at 103.00, despite a two-day recovery from the lowest levels since April 2022. In doing so, the dollar's measure against the six main currencies fails to justify the robust US employment report and geopolitical concerns regarding China.

 

U.S. Secretary of State Antony Blinked canceled his previously scheduled trip to Beijing in response to the weekend news reports claiming that an American military fighter jet shot down a suspected Chinese surveillance balloon off the coast of South Carolina. President of China Xi Jinping called this a "obvious overreaction" in response to the incident.

 

The same joins Friday's robust US employment report and ISM Services PMI data to test the XAU/USD bulls ahead of Fed Chair Jerome Powell's speech, scheduled for release on Tuesday.

 

S&P 500 Futures extend the previous day's fall from the greatest levels since August as of press time, trading 0.30% lower intraday near 4,140. In the same vein, US 10-year Treasury note rates have increased for three straight days, reaching 3.56 percent as of press time, marking the largest weekly increase since late September 2022.

 

It is worth mentioning that a lack of key data appears to have spurred the XAU/USD bounce from the short-term support, but Gold purchasers should stay cautious in light of the Fed's recent hawkishness and the US-China friction. The US UoM Consumer Sentiment Index for February and the University of Michigan's 5-year Consumer Inflation Predictions will also be crucial to monitor on Friday.


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