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Royal Bank of Canada: As long as the Federal Reserve does not cut interest rates, the US dollar should perform very well.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.0 occurred near Gao County, Yibin City, Sichuan Province (28.55°N, 104.69°E) at 19:48 on July 10. The final result is subject to the official rapid report.Delta Air Lines (DAL.N) shares turned lower in pre-market trading.July 10th - Due to continuous heavy rainfall, the disaster situation in Guangxi has further worsened. The National Disaster Prevention, Mitigation and Relief Committee has raised Guangxis emergency response level from Level IV to Level III. To thoroughly implement General Secretary Xi Jinpings important instructions on flood control and disaster relief, in addition to the 110 million yuan pre-allocated on July 6th, the Ministry of Finance and the Ministry of Emergency Management urgently pre-allocated another 80 million yuan in central natural disaster relief funds on July 10th. This funding will support Guangxi in focusing on the relocation and resettlement of affected people, transitional living assistance, and the repair of damaged houses, effectively ensuring the basic living needs of the affected population. The Ministry of Finance has instructed the Guangxi Finance Department to expedite the disbursement of funds to the disaster area, ensuring the effective use of the pre-allocated funds; to strengthen the supervision of disaster relief funds, resolutely preventing any irregularities such as fund retention, misappropriation, or diversion, and ensuring that all disaster relief funds are used for the disaster area and the affected people.On July 10th, Hansoh Pharmaceutical (03692.HK) announced that its independently developed B7-H3 targeted antibody-drug conjugate, HS-20093, met the primary endpoint of overall survival (OS) in the pivotal Phase III clinical trial (ARTEMIS-008) for patients with small cell lung cancer that had progressed or relapsed after platinum-based therapy. At the pre-specified interim analysis, HS-20093 showed a statistically and clinically significant improvement in OS compared to topotecan, and consistent benefit was also observed in the secondary endpoint of progression-free survival (PFS). The safety profile was consistent with previous studies. The company will soon begin communication with regulatory agencies to advance preparations for its new drug application in China.

Gold Price Prediction: XAU/USD attempts to increase auction profile over $1,840 prior to Fed minutes

Daniel Rogers

Jan 03, 2023 15:06

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After surpassing the crucial resistance of $1,823.00 in the Asian session, the gold price (XAU/USD) has exhibited a robust upward trend. In response to a fall in the desirability of safe-haven assets, the precious metal seeks to raise its auction profile over the $1,840.00 barrier.

 

The momentum has moved to the risk appetite theme as a result of the S&P500 futures' abrupt comeback. In the meantime, the US Dollar Index (DXY) has attempted a rebound after falling close to 103.15, a key support level. Ahead of Wednesday's release of U.S. ISM Manufacturing PMI data, investors should anticipate volatility in the foreign exchange market (Dec). According to predictions, the economic data will decrease to 48.5, from 49.0 previously.

 

The explanation for the lower consensus for ISM PMI data could be the Federal Reserve's (Fed) higher interest rates, which have caused businesses to delay growth plans to avoid incurring greater interest commitments.

 

In addition to the Manufacturing PMI, the Federal Open Market Committee (FOMC) minutes will dominate the news. Investors will closely monitor economic estimates and monetary policy indicators for CY2023.


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