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May 13 (Yonhap) -- Hyundai Motor Group announced on Wednesday that it will join an autonomous vehicle demonstration project led by the Gwangju city government in southwestern South Korea to test and advance its mobility solutions. Hyundai Motor and Kia Motors signed a memorandum of understanding in Gwangju with the Ministry of Land, Infrastructure and Transport, the Gwangju city government, and mobility startups including Autonomous A2Z and Ride Flux. Under the agreement, the two automakers will develop approximately 200 autonomous vehicles based on the Ioniq 5 electric car and operate autonomous mobility services in Gwangju, including vehicle dispatching and fleet control operations.On May 13th, at the opening ceremony of the Create2026 Baidu AI Developer Conference, Baidu founder Robin Li proposed that the metric for the AI era might be "Daily Active Agents" (DAA), corresponding to the most commonly used metric in the mobile internet, "Daily Active Users" (DAU). Li stated that the current metric closest to industry consensus is token consumption, but tokens dont necessarily represent the end result; they represent costs, not returns; they measure input, not output. "When humanity enters the era of intelligent agents, to measure the prosperity of a platform and ecosystem, we should focus more on the DAA metric, on how many agents are working for humanity and delivering results. This is closer to value and closer to the essence than pointless token consumption."According to Yonhap News Agency, Hyundai Motor Group will test AI-powered autonomous vehicles in Gwangju.The Hang Seng Tech Index fell by more than 1%, while the Hang Seng Index fell by 0.2%.Most Hong Kong-listed film and entertainment stocks fell, with NetEase (09999.HK) down more than 5%, and Tencent Music (01698.HK) and Huanxi Media (01003.HK) down more than 4%.

Gold Price Forecast: XAU/USD confronts resistance above $1,650 as the DXY recovers and fears of a recession loom

Alina Haynes

Oct 18, 2022 11:39

 截屏2022-09-20 下午12.00.01.png

 

In the Tokyo session, the gold price (XAU/USD) has encountered selling pressure while attempting to hold above the $1,650.00 barrier. The precious metal's backward movement has ended as the US dollar index (DXY) has regained following a decline to about $1,646.83 during the late New York session.

 

The DXY has regained bids about 112.00 after lingering under the control of bears. However, the risk-taking attitude persists. The S&P500 futures are maintaining their overnight gains on a positive Monday. In addition, 10-year US Treasury rates fluctuate below the key level of 4%. As hawkish Federal Reserve (Fed) monetary policy wagers remain strong, the yellow metal may resume its decline towards $1,640.00 in the near future.

 

According to the CME FedWatch tool, the probability of a fourth straight 75-bps increase in interest rates is 99.1%.

 

Meanwhile, recession fears have increased following J.P. Morgan's bearish commentary. Regarding financial instruments, Morgan. J.P. Morgan strategists According to Reuters, Morgan is reducing their delivery longs in equities and their underweight position in bonds because to the increasing possibility that central banks may make a hawkish policy blunder.

 

On an hourly scale, gold prices have gained substantial selling pressure in a number of efforts to surpass the highest auction zone located between $1,661.70 and $1,684.50. At $1,654.43, the precious metal has detected resistance at the 20-period exponential moving average (EMA).

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