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The rupiah fell as much as 0.45% to 16,585 against the dollar, its lowest level since May 2.On May 14, Goldman Sachs said that after an internal analysis of Trumps social media posts on oil prices, it was found that Trump seemed to prefer to maintain WTI oil prices between $40 and $50 per barrel. Analysts such as Daan Struyven said: "Trump has always been very concerned about oil and US energy dominance. He has posted nearly 900 related tweets. Through analysis, we infer that his preference for WTI oil prices is around $40 to $50, which is also the range in which he talks about oil prices the least frequently." The prices of US and Brent crude oil are often affected by Trumps social media remarks. His comments range from OPECs production policy, US gasoline prices to sanctions on countries such as Iran. The report pointed out: "When WTI prices are above $50, Trump usually calls for price cuts (or welcomes the drop in oil prices); when oil prices are very low (below $30), he calls for higher oil prices, usually to support domestic oil and gas production in the United States."On May 14, HSBC published a report, raising the target price of JD Health (06618.HK) from HK$43 to HK$45, by 4.65%, and maintaining the investment rating of "buy". HSBC said that JD Healths revenue in the first fiscal quarter was RMB 16.6 billion, a year-on-year increase of 25% and a quarter-on-quarter increase of 1%. The adjusted operating gross profit margin was 7.9%, an increase of 2.2 percentage points from last year and 6.9 percentage points from the previous quarter, mainly due to the improvement in gross profit margin. The adjusted net profit margin was 10.6%, an increase of 1.6 percentage points/quarter-on-quarter from the same period last year. The bank currently predicts that JD Healths full-year revenue in 2025 will increase by 17.6% year-on-year to RMB 68.4 billion, which means that the second to fourth quarters of 2025 will increase by 15% year-on-year. The bank expects the full-year adjusted operating gross profit margin to be 4.8%, an increase of 3 percentage points from last year, and the non-GAAP net profit margin to be 7.6%, a year-on-year decrease of 0.6 percentage points.On May 14, according to media reports, Apple is deeply studying brain-computer interface technology and working with startup company Synchron to explore the possibility of controlling devices such as iPhone, iPad and Vision Pro through brain signals. This cutting-edge technology is expected to bring a new way of interaction to paralyzed patients and those with limited mobility. Synchron is a company that produces a stent-like implant called "Stentrode". The device contains 16 electrodes and is implanted into a mesh electrode array of the brains motor cortex blood vessels through the jugular vein. It can capture the movement intention signals emitted by the brain and transmit them to external devices wirelessly to achieve control without hand operation. Synchron integrates the above system with Apples switch control function to replace the input method. In a trial, Mark, a 64-year-old amyotrophic lateral sclerosis (ALS) patient, successfully controlled the Apple Vision Pro headset with his mind by implanting Synchrons brain-computer interface device. He can play card games, watch Apple TV programs and send text messages with brain signals alone without gestures or voice.Sources: Baidu (BIDU.O) will cooperate with PostAuto to launch a self-driving taxi service in Switzerland. Baidu also plans to test self-driving taxis in Türkiye.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.