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Ascletis Pharmaceuticals (01672.HK) announced on the Hong Kong Stock Exchange that its controlling shareholder has made a voluntary commitment to lock up its shares.Cathay Haitong Securities released a research report on September 12th, stating that Nvidias next-generation Rubin CPX offloads the computational load of AI inference at the hardware level, with memory upgrades providing higher-speed transmission. With increasing computing speeds, the average per-unit capacity of DRAM and NAND Flash in various AI-enabled applications, such as smartphones, servers, and laptops, has increased, with the server sector experiencing the highest growth. The average per-unit capacity of server DRAM is projected to increase by 17.3% annually in 2024. With the continued growth in demand for AI servers, high-end AI chips such as Nvidias next-generation Rubin and cloud service providers (CSPs) are gradually launching or entering mass production, contributing to both volume and price increases for high-speed computing DRAM products. Memory modules are recommended for attention.The Central Bank of Peru cut interest rates by 25 basis points, bringing the benchmark rate to 4.25%.1. All three major European stock indices closed higher, with Germanys DAX up 0.3%, Frances CAC 40 up 0.8%, and the UKs FTSE 100 up 0.78%. 2. U.S. Treasury yields were mixed, with the 2-year Treasury yield rising 0.19 basis points to 3.539%, the 3-year Treasury yield rising 1.11 basis points to 3.508%, the 5-year Treasury yield falling 0.35 basis points to 3.595%, the 10-year Treasury yield falling 2.29 basis points to 4.024%, and the 30-year Treasury yield falling 4.15 basis points to 4.654%. 3. International precious metals futures closed mixed, with COMEX gold futures down 0.23% to $3,673.40 per ounce and COMEX silver futures up 1.12% to $42.07 per ounce. 4. The main U.S. crude oil contract closed down 2.25% at $62.24 per barrel, while the main Brent crude oil contract fell 1.78% to $66.29 per barrel. 5. Base metals prices rose across the board in London, with LME aluminum futures up 2.06% at $2,679.00 per ton, LME zinc futures up 0.64% at $2,905.00 per ton, LME nickel futures up 0.49% at $15,220.00 per ton, and LME copper futures up 0.44% at $10,057.00 per ton.Futures News on September 12, the worlds largest gold ETF - SPDR Gold Trusts holdings decreased by 2.01 tons from the previous day, and the current holdings are 977.95 tons.

Buyers in the USD/CAD currency pair are keeping an eye on the 1.3580s as a key support level

Alina Haynes

Mar 03, 2023 13:59

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The price of USD/CAD is steady as the week comes to an end in Asia; it is currently trading at around 1.3580, down from the day's highs of 1.3601.

 

As Unemployment Claims showed a strong US job market on Thursday, the US dollar gained. The yield on two-year Treasury notes, which is influenced by forecasts for interest rates, consequently rose to values last seen in July 2007. Futures moved marginally higher, with the market setting a maximum fed funds rate of 5.493% in September before it dipped to 5.447% later in the trading session.

 

The Federal Reserve is the center of attention, and Raphael Bostic, president of the Atlanta Fed, stated on Thursday that the central bank is prepared to keep raising rates if inflation does not moderate and that it is still considering how recent, higher-than-expected inflation data may affect Fed policy. The Fed should continue with "constant" quarter-point rate rises, even though the effects of higher rates on the economy might not "bite" in earnest until this spring.

 

The internal economy of Canada, meanwhile, experienced growth that was flat SAAR compared to the 1.6% anticipated and a revised 2.3% (was2.9%) in Q3, which was the lowest since Q2 2021. The yearly growth rate slowed to 2.3% from 2.8% in November as a result of the 0.1% month-over-month decline in GDP in December, compared to the 0.1% anticipated. The next meeting is scheduled for March 8, but according to WIRP, a final 25-bp rise to 4.75% is still factored in for Q3. The BoC has signaled a pause in its increasing cycle, and as a result, the Canadian currency is likely to keep finding it difficult to advance against the USD.


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