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April 1st - Multiple sources have confirmed that Wei Bin, Vice President of XPeng Group and head of its Intelligent Cockpit, recently resigned from the company after being on leave for family reasons. Currently, XPengs Intelligent Cockpit Center and Autonomous Driving Center have merged to form the General Intelligent Center, managed by Liu Xianming. Before his departure, Wei Bins primary responsibility was promoting the application of the Visual Language Model (VLM) large-scale model to the intelligent cockpit.Market news: Colombia has raised benchmark prices for gasoline and diesel.The Russian Foreign Ministry announced it will issue a travel warning, reminding Russian citizens of the risks of traveling to countries that have extradition treaties with the United States.On April 1st, it was reported that on March 31st, the Peoples Bank of China, the Ministry of Science and Technology, the State Financial Regulatory Commission, and the China Securities Regulatory Commission jointly convened a meeting to exchange and promote science and technology finance. The meeting pointed out that the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the 15th Five-Year Plan outline uphold the strategic core position of scientific and technological innovation in national development, clarify the strategic goal of accelerating high-level scientific and technological self-reliance, optimize and adjust the regional layout of international science and technology innovation centers, and put forward clear requirements for building a science and technology finance system adapted to scientific and technological innovation. Relevant departments and institutions should thoroughly study and implement the decisions and deployments of the CPC Central Committee and the State Council, further deepen the supply-side structural reform of finance, improve the diversified financial service system, support international science and technology innovation centers in optimizing the science and technology finance ecosystem, and continuously improve the adaptability of financial service supply to the needs of scientific and technological innovation.On April 1st, it was reported that on March 31st, the Peoples Bank of China, the Ministry of Science and Technology, the State Financial Regulatory Commission, and the China Securities Regulatory Commission jointly convened a meeting to exchange and promote science and technology finance. The meeting emphasized that the "15th Five-Year Plan" period is a crucial period for building a strong science and technology nation, and science and technology finance should provide higher-quality services to support this goal. Relevant departments and institutions should work together to continuously improve the science and technology finance working mechanism and solidly advance all key tasks for the year. They should continue to strengthen coordination and interaction among relevant departments, local governments, and financial institutions, expand information sharing, accelerate the construction of a technology factor market, and improve the efficiency of financial resource allocation. They should enhance the professional capabilities of science and technology finance services and enrich financial products adapted to the characteristics of high-tech fields. They should leverage the role of policies such as relending for technological innovation and technological upgrading, the pilot program for equity investment by financial asset investment companies, M&A loans, and the "technology board" in the bond market to promote more precise allocation of financial resources to the field of technological innovation.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


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