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ANZ Bank: Raised its gold price forecast for 0-3 months to $3,100/ounce and its 6-month forecast to $3,200/ounce.Macquarie Bank warned in its latest client report on March 18 that Trumps economic policies have the potential to trigger a stock market crash. Unless Trump withdraws from the trade war and cuts spending (which seems unlikely at the moment), actual U.S. consumer spending may slow significantly. Since this is the most consistent signal of a bear market, we believe that the risk of a 20% drop in U.S. stocks from their Valentines Day peak is increasing. The U.S. benchmark S&P 500 has fallen nearly 8% from its high last month, and the tech-heavy Nasdaq has fallen nearly 12% from its peak in December.NIO (09866.HK) continued to rise at the end of the morning session and is now up by more than 15%.March 18th, the reporter learned from a recent interview that since the trial operation of the first autonomous driving bus line was launched in August 2024, Shenzhen has realized the regular operation of the first batch of 4 "AI bus" lines. "Citizens can make reservations for free through the Shenba Travel APP. The 4 lines have transported a total of 41,874 passengers so far, with a passenger mileage of 32,400 kilometers and safe operation for more than 200 days." The relevant person in charge of Shenzhen Bus Group introduced to reporters. As an innovative practice of applying AI technology in typical scenarios of urban transportation, Shenzhens "AI Bus" deeply integrates artificial intelligence technology into the public transportation system, integrates L4 unmanned driving system, embeds intelligent dispatching system, and integrates 5G vehicle-road collaboration, multi-sensor fusion perception, high-precision map positioning and other cutting-edge technologies to achieve millisecond-level road condition response and accurate decision-making.March 18, according to local media reports, the Israeli army launched a large-scale air strike on the Gaza Strip in the early hours of today (March 18) local time, killing about 250 people and injuring hundreds of people. The Israeli army shelled a refugee camp in central Gaza. In addition, the Israeli army is also shelling the Breji refugee camp area in central Gaza Strip.

Following a two-day increase, oil prices were subdued and were on course for a weeklong decline

Haiden Holmes

Aug 19, 2022 11:17

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After a two-day jump on indications of increased U.S. demand, oil prices traded flat on Friday, but were still poised for weekly losses due to concerns about a Chinese slowdown and a probable Iranian-led supply glut.


At 20:19 ET (00:19 GMT), West Texas Intermediate Futures jumped 0.1% to $90.62 per barrel, while London-traded Brent oil futures increased 0.1% to $96.62 per barrel. In response to a string of positive demand indicators from the United States, both contracts have risen between $2 and $3 during the past two days.


Nonetheless, they were anticipated to lose over 2% each for the week, as negative economic news from China, a major importer, drastically lowered prices at the beginning of the week. According to data released on Monday, Chinese industrial output dropped in July, while the People's Bank of China unexpectedly slashed interest rates in reaction to lackluster development.


Speculation regarding the possible revival of the Iran nuclear deal, which might result in the lifting of numerous Western sanctions against the country, further reduced oil prices. It is predicted that this action will enhance daily supply by more than one million barrels.


Concerns over slowing global economic growth have drastically lowered oil prices in recent months, with prices recently reaching their lowest levels since February, wiping out all gains made due to supply bottlenecks caused by the Russia-Ukraine conflict.


Nonetheless, this week's second half showed minimal price support. Two days ago, oil prices increased as a result of a larger-than-anticipated fall in U.S. crude inventories and signs that gasoline consumption in the country was rising steadily.


Traders also hypothesized that the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) could restrict output to stabilize prices.


Despite the cartel's recent return to pre-COVID production levels, OPEC Secretary-General Al Ghais has recently hinted at a supply cut if prices continue to fall.


Ghais also reassured entrepreneurs that forecasts of an economic collapse in China were exaggerated.

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