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Jefferies: Lowered its price target for Oracle (ORCL.N) from $320 to $290.On September 2nd, NASA announced on September 1st that it has awarded Blue Origin a contract to develop a Mars communications network designed to provide reliable, high-bandwidth communications and navigation services for current and future Mars exploration missions. According to NASA, the maximum potential value of this fixed-price contract is approximately $700 million. Under the contract, Blue Origin will be responsible for the design, development, integration, launch, and operation of the Mars communications network, and will deliver a high-performance Mars communications orbiter to NASA by December 31, 2028.September 2nd - According to the Financial Times, a senior European Central Bank (ECB) policymaker stated that the ECB should not shy away from further interest rate hikes if inflation "starts to move in the wrong direction." ECB Governing Council member Machrouf said he was "uneasy" that the eurozone inflation rate was hovering above 3%, while economic growth was "slightly stronger" than predicted before the summer. Machrouf stated, "Our decision next week will not surprise anyone." He added that he expects the ECB to also "slightly" raise its eurozone economic growth forecast this year. Machrouf emphasized that even at 2.5%, the ECBs benchmark deposit rate would not dampen economic activity. "Policy is not restrictive," he said, adding that restrictive policy "generally speaking, will only begin when interest rates exceed 2.75%." Furthermore, he believes it is unclear whether further rate hikes are needed after the expected rate increase next week, and the ECB should adhere to its "meeting-by-meeting" strategy and avoid providing forward guidance. He stated that inflation expectations are "in good shape," and there are no signs of a "second round of inflation on the wage side. We see the associated risks being managed."According to the Financial Times, ECB Governing Council member Machrouf stated that the ECB must be prepared to raise interest rates further.On September 2nd, the National Medical Products Administration (NMPA) issued a new announcement stating that, to ensure public medication safety, my country will convert the over-the-counter (OTC) formulation of Yumei (a traditional Chinese medicine) into a prescription drug and manage it accordingly. The announcement requires marketing authorization holders of relevant products to submit supplementary applications for revising the product instructions to the NMPAs Center for Drug Evaluation by November 30, 2026, in accordance with the "Drug Registration Management Measures" and other relevant regulations. Other contents of the instructions must be revised according to prescription drug requirements, and the drug label must also be revised accordingly. After the supplementary application for revising the drug instructions is approved, the marketing authorization holders of relevant products must replace the instructions and labels of already manufactured drugs within nine months, or inform patients in other ways. They should also promptly collect and report adverse reaction information and implement risk control and pharmacovigilance measures. The NMPA requires that marketing authorization holders, manufacturers, distributors, and clinical users of relevant products strictly adhere to the relevant management requirements for prescription drugs when producing, selling, and using this product.

Gold Price Prediction: XAU/USD to Approach $1,880 as US Inflation Steals the Show

Daniel Rogers

Jan 12, 2023 11:59

 截屏2023-01-11 下午4.19.41_1024x576.png

 

During the Asian session, the gold price (XAU/USD) aims to extend its rebound to near the important barrier of $1,880.00. Prior to the announcement of U.S. inflation statistics, the precious metal fell to a low of approximately $1,867.50 during its rangebound behavior. However, in the late New York session, the precious metal rebounded significantly.

 

In Asia, S&P500 futures are doing poorly; yet, the total risk profile is notably positive. On a broader scale, the alpha created by 10-year US Treasury bonds has abandoned its recovery rise amid optimism and has declined to approximately 3.55%. In the meantime, the US Dollar Index (DXY) has fallen to roughly 102.75 as the market anticipates a further deceleration in the Consumer Price Index (CPI).

 

According to NBF analysts, headline prices will decrease 0.1% month-over-month and the year-over-year rate will decline from 7.1% to 6.9%. This rise should have been more than offset by decreasing gasoline prices. The Core index may have continued to be supported by growing rent costs and increased 0.3% month-over-month. This would result in a two-point drop in the 12-month rate to 5.8 percent."

 

None of the drivers, ranging from a risk-on sentiment to an economic slowdown and a lower consensus for the United States Consumer Price Index (CPI), are exhibiting indications of recovery in the US Dollar Index after the carnage. The Federal Reserve (Fed) could be compelled to modify its monetary policy forecasts for CY2023 and beyond if US inflation figures decrease.


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