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On February 23, local time on February 22, the BMW Group issued a statement saying that due to the uncertainty facing the industry, the company is re-evaluating the timetable for producing all-electric Mini models in the UK. It is understood that the Mini brand electric vehicle production line was originally scheduled to be put into production at the Oxford plant in the UK in 2026, and it is committed to achieving full electrification transformation by 2030.According to Ukrainian Pravda: Russia lost 1,180 soldiers in the past 24 hours.SK Group Chairman Choi Tae-won: Artificial intelligence and energy have now become the core of global change. Cooperation among South Korea, the United States and Japan in this regard is not an option but a necessity.February 23 news, the 2025 Spring Festival travel season will start on January 14 and end on February 22. As one of the most important and convenient channels for exchanges between the people on both sides of the Taiwan Strait, the Xiamen-Jinmen "mini three links" passenger route has a total of 942 flights during the Spring Festival travel season, transporting more than 180,000 passengers, an increase of 50% and 43.4% year-on-year respectively.On February 23, during the 40 days of the Spring Festival (January 14 to February 22, 2025), the cross-regional flow of people in the whole society was 9.02 billion, an increase of 7.1% over the same period in 2024. Among them, the railway passenger volume was 510 million, a year-on-year increase of 6.1%; the highway passenger flow was 8.39 billion, a year-on-year increase of 7.2% (of which 7.17 billion people drove themselves, accounting for 79.4% of the total cross-regional personnel volume in the whole society, and the highway commercial passenger volume was 1.22 billion); the water passenger volume was 31.21 million, a year-on-year increase of 7.6%; the civil aviation passenger volume was 90.2 million, a year-on-year increase of 7.4%.

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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