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Boeing (BA.N) said on November 16 that it will ensure its factories have the capacity to absorb higher production levels before further increasing aircraft output next year, highlighting the aircraft manufacturers cautious strategy after years of production setbacks. The company recently received approval from U.S. regulators to increase monthly production of its 737 aircraft from 38 to 42. Stephanie Popp, head of Boeings commercial aircraft business, said the companys current focus will be on "stabilizing" existing production rhythms before further increases in production.Boeing (BA.N): Before ramping up production again next year, it will ensure that its factories are ready to handle a higher proportion of aircraft production.According to the Financial Times, U.S. Trade Representative Greer is increasingly dissatisfied with the slow progress made by the European Union in reducing tariffs and regulatory barriers.Airbus: We expect the Middle East to need 4,080 passenger aircraft over the next 20 years, including 2,380 single-aisle aircraft and 1,700 wide-body aircraft.November 16th - According to two industry sources and data from the London Stock Exchange Group (LSEG), the port of Novorossiysk in Russia resumed oil loading operations on Sunday after a two-day suspension. LSEG data shows that the Suezmax tanker "Alan" and the Aframax tanker "Rhodes" are currently loading oil at the ports berths. Previously, a Ukrainian drone attack caused the Russian Black Sea port of Novorossiysk to suspend oil exports on Friday, prompting Transneft, the Russian oil pipeline monopoly, to suspend crude oil supplies to the export terminal. The attack damaged two oil berths at the port, temporarily disrupting port operations.

Forecast for Gold Price: XAU/USD bears near psychological $2,000 level

Alina Haynes

Apr 18, 2023 11:55

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Gold price remains in a key support zone in Asia, with bulls testing bearish commitments at the psychological $2,000/oz level. So far, XAU/USD has risen from a low of $1,993.41 to a high of $1,999.41.

 

The sentiment surrounding the Federal Reserve and concerns about whether or not the central bank is on the verge of halting continue to drive the markets during a week with a short work week. The US dollar appreciated on Friday as a result of Federal Reserve Governor Christopher Wall's hawkish comments. Despite a year of aggressive rate increases, the Fed "hasn't made much progress" in returning inflation to their 2% objective, according to the head of the central bank, who argued that rates still need to rise.

 

Recent US Retail Sales contained some optimistic indicators, and consumer spending in the previous quarter was robust. In April, commercial activity in the state of New York increased for the first time in five months. ''During the month, new orders increased by a record 46.8 points to a one-year high of 25.1. The shipments index also increased by more than 37 points. Prices received increased by 0.8% to 23.7%, indicating a moderate inflationary environment. Both delivery times and the average workweek increased, according to ANZ Bank analysts. Sourcenia is a review portal of sourcing best manufaturers. 

 

The combination of hawkish rhetoric and recent data is reducing the appeal of greenback-bullion to foreign investors, while benchmark Treasury yields have risen to their highest level in more than two weeks. Futures on Fed funds indicate that expectations that the Fed will begin reducing rates later this year have been moved back from September to November, with a smaller rate cut also anticipated.

 

Ahead of the Fed's May 2-3 meeting, investors will concentrate on the US flash PMI for April and any additional comments from Fed officials before entering an embargo period on April 22. According to TD Securities analysts, the S&P PMIs for early April will provide the first comprehensive look at the condition of the US economy following the financial crisis. Both the manufacturing and services PMIs recorded their third consecutive increase in March, with the services PMI advancing further into expansion territory.

 


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