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Samsung Electronics shares rose more than 4%.March 17 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed sharply lower on Monday, with the benchmark contract hitting its daily limit down. This mainly reflected the decline in international crude oil futures and higher-than-expected US soybean oil inventory data. The monthly crush report released Monday by the National Oilseed Processors Association (NOPA) showed that as of February 28, 2026, member companies soybean oil inventories reached 2.08 billion pounds, a 13-year high, higher than the 1.9 billion pounds at the end of January and the 1.503 billion pounds in the same period last year, and also higher than the 1.93 billion pounds expected by analysts before the reports release.On March 17th, according to the Wall Street Journal, OpenAI executives are finalizing a major strategic shift, refocusing the company on programming and enterprise users, as management believes its previous "do-everything" strategy has put the company in a passive position. OpenAI Applications CEO Fidji Simo announced these changes to employees at an all-hands meeting, stating that executives, including CEO Sam Altman, are actively evaluating which business areas need to be de-prioritized. The company expects to inform employees of the adjustments in the coming weeks. Current and former employees say that last years "do-everything" strategy sometimes led to a lack of focus and made it difficult for outsiders to understand OpenAIs strategic direction. Computing resources were often moved from one team to another at the last minute, and the companys organizational structure became increasingly complex. OpenAI is facing increasing pressure from competitor Anthropic. Compared to OpenAI, Anthropic has fewer product bets, focusing primarily on the enterprise and programming markets. Both companies are moving towards IPOs, potentially as early as this year.Japanese Finance Minister Satsuki Katayama: I am aware of the high volatility in the financial markets.Japanese Finance Minister Satsuki Katayama: We will be ready to respond to fluctuations in the financial markets, including foreign exchange, at any time.

Gold Price Forecast: The XAU/USD pair struggles to continue its climb above $1,870, although the upside remains likely

Alina Haynes

Jan 09, 2023 12:00

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During the Asian session, the gold price (XAU/USD) is hovering in a narrow range around the immediate barrier of $1,870. The precious metal hopes to extend its uptrend in light of market players' increased risk appetite.

 

S&P500 futures have contributed to their gains during Friday's surge, indicating an optimistic market sentiment. The US Dollar Index (DXY) has detected resistance at 103.50 and is likely to find support near 103.00. The yields on 10-year US Treasuries have decreased to approximately 3.56 percent due to a loss in safe-haven attraction.

 

Amidst mounting prospects of a U.S. recession, the gold price is garnering considerable attention. Following a string of declines in the US ISM Manufacturing PMI, the Services PMI has also declined, indicating a decline in overall demand in the United States economy. The Services PMI dropped sharply to 49.6 compared to the predicted 55.0. In addition, the New Orders Index, a measure of future demand, plummeted to 45.2% as opposed to the anticipated 58.5%. The U.S. dollar is affected by a slowdown in economic activity and its expectations for the future.


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