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On October 19th, Russian law enforcement revealed that Ukrainian armed forces were using a satellite system from the British company OneWeb to control unmanned boats in the Black Sea, and that a similar unmanned boat had been captured as a trophy. Sources said Ukraine was using the system as a backup communication channel for the Starlink system. "OneWeb terminals have been integrated into the maritime drone control system. Now, OneWeb is used as a backup communication channel alongside the primary system, the US Starlink," the source said. He explained that unlike Starlink, which uses thousands of low-orbit satellites, OneWeb deploys its network in medium-Earth orbit. This allows for wider coverage per satellite, but requires more complex and expensive user terminals.On October 19, a source in the Russian security department revealed that the number of mercenaries holding American passports killed by the Russian armed forces in special military operations in Ukraine has reached nearly 100. The source said: "Since the end of February 2022, about 100 American citizens fighting alongside Ukrainian militants have been killed in Ukraine." The source pointed out that obituaries of many people have been published on social networks and Ukrainian media.On October 19th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that 23 models saw price reductions in September this year (compared to 36 models in the same period last year and 11 models in the same period in 2023), indicating that the current market remains relatively stable. Promotional activity for new energy vehicles remained at a mid-to-high 10.2% in September 2025, an increase of 2.6 percentage points year-on-year and a slight increase of 0.7 percentage points from the previous month. Promotional activity for traditional fuel vehicles reached 23.9% in September 2025, up 1 percentage point from the previous month and 1.9 percentage points year-on-year. The overall wholesale structure of major passenger car manufacturers continued to shift in September, with some mid-segment companies showing signs of gradual growth. Companies such as Geely Auto, Dongfeng Nissan, Xpeng Motors, Xiaomi Motors, and Leapmotor saw strong month-on-month performance. The independent brands of large state-owned groups have achieved strong growth. The independent brands of the five major state-owned groups, including SAIC, Dongfeng, Changan, Chery, and BAIC, increased by a total of 25% year-on-year in September. Among them, the second generation of independent brands of Shenlan, Lantu, Arcfox, and large groups showed strong growth.Nvidia (NVDA.O) CEO Jensen Huang will attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in South Korea.Microsoft (MSFT.O) leaders worry that meeting OpenAIs rapidly growing computing needs could lead to an overbuilding of servers that might not generate an economic return.

Gold Price Prediction: As the USD Index attempts to recover, XAU/USD is likely to encounter resistance near $1,830

Alina Haynes

Feb 24, 2023 14:25

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Gold price (XAU / USD) has detected resistance while extending its recovery above $1,828.00 in the Asian session. As the US Dollar Index (DXY) has attempted a recovery following a correction to around 104.10, the precious metal's bearish pressure appears to be strong. It appears that the risk-taking impulse has subsided and investors are returning to the risk-aversion theme.

 

Following a favorable Thursday, S&P500 futures are showing moderate losses. Global equities are susceptible to extreme volatility as additional announcements of interest rates may be necessary to combat persistent inflation. A small majority of equity analysts surveyed by Reuters anticipated a correction within three months.

 

After a severe correction, yields on US government bonds are still struggling to recover. At the time of writing, 10-year US Treasury Yields were approximately 3.87 percent.

 

Investors will monitor the Personal Consumption Expenditure (PCE) Price Index figures for additional guidance. Annually, the economic data is anticipated to be 4.3% higher than the previous release of 4.4%. The monthly data is anticipated to increase by 0.4%, compared to the 0.3% previously reported. Price pressures in the U.S. economy have shown resiliency following a downward trend, which was driven by a rebound in household expenditure and a positive labor market.

 

The US Department of Labor reported a decline in Initial Jobless Claims (IJC) to 193K on Thursday, below Bloomberg's estimates of 200K. Continuing claims, which include individuals who have received unemployment benefits for a week or more, decreased by 37,000 to 1.65 million in the week ending February 11, according to Bloomberg. This was the largest decrease since December.

 

Undoubtedly, the labor market is exceptionally robust, as evidenced by the declining number of jobless claims, the lowest unemployment rate in decades, and robust job creation. This strengthens the notion that the Federal Reserve (Fed) cannot halt further rate hikes.


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