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On June 24, it was reported that the IPO application status of Suzhou Intermod Technology Co., Ltd. on the ChiNext board has changed to "under inquiry," with Huatai United Securities as the sponsor.On June 24th, the Ministry of Commerce and seven other departments formulated the "Special Action Plan for Rectifying the Illegal Recycling and Dismantling of End-of-Life Motor Vehicles." The plan, now issued, mentions rectifying the illegal sale of parts from end-of-life motor vehicles. It calls for investigating and punishing, according to law, acts such as selling used new energy vehicle power batteries to organizations or individuals other than recycling service outlets or comprehensive utilization enterprises, refusing to report traceability information or submitting false information, and selling or reselling dismantled three-way catalytic converters to enterprises without processing qualifications. The plan also involves verifying the parts registration ledgers of end-of-life motor vehicle recycling enterprises, and for those with a large number of missing parts, investigating whether they cooperated with illegal recycling and dismantling "black workshops," facilitating the receipt of scrapped vehicles with partially dismantled parts and issuing "recycling certificates," etc. Furthermore, it supervises the standardized use of the national mark for remanufactured automotive parts, and investigates and punishes the illegal refurbishment of the "five major assemblies" and three-way catalytic converters of end-of-life motor vehicles, as well as the sale of substandard remanufactured parts without the "remanufactured product" label.The Ukrainian military has attacked a natural gas processing plant and a helium plant in Russias Orenburg region.Bilibili (09626.HK) announced a new $300 million share buyback program, under which the company can repurchase up to $300 million worth of its own shares within 24 months from the date of this announcement.The German DAX index fell by 1.00% on the day.

Gold Price Prediction: XAU/USD struggles above $2,000 as additional Fed rate increases appear inevitable

Daniel Rogers

Apr 17, 2023 13:44

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During the Asian session, the gold price (XAU / USD) appears vulnerable above the psychological resistance of $2,000.00. Following a four-day low of $1,992.50, the precious metal has exhibited a recovery trend. However, the recovery appears precarious as bullish wagers on the US Dollar Index (DXY) limit the upside.

 

As the probability of a consecutive 25 basis point (bp) rate hike from the Federal Reserve (Fed) is exceedingly high, the USD Index seeks to extend its recovery above the immediate resistance of 101.75. According to the CME Fedwatch instrument, the likelihood of a rate rise is nearly 80%.

 

In the meantime, S&P500 futures posted significant gains early on Monday, following a moderate decline on Friday. Quarterly earnings season is anticipated to keep US equities stock-specific. As a result of the precipitous drop in petroleum prices in March, manufacturing and oil-dependent businesses could experience a reasonable earnings rebound.

 

The demand for U.S. government bonds has decreased considerably in response to rising wagers on additional Fed policy restrictions. President of the Federal Reserve Bank of Atlanta Raphael Bostic stated that with one more quarter-point increase in interest rates, the Fed can conclude its tightening cycle with some assurance that inflation will gradually revert to its 2% objective.


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