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On July 11th, reports surfaced that Tencent is in talks to become the largest shareholder of Manus, a general AI agent company. According to the report, a Chinese capital consortium led by Tencent is reportedly repurchasing all of Manuss shares from Meta at a valuation of approximately $2 billion. When contacted for confirmation, Tencent had not yet responded at press time. Sources familiar with the matter also revealed that Tencent will retain a minority shareholder position after the transaction, but will not hold a controlling stake.July 11 – According to Russian sources on July 10, when asked whether Turkey had applied to Russia for the sale of the Russian-made S-400 air defense missile system, Russian Presidential Press Secretary Dmitry Peskov stated that the topic was "very sensitive." Russia has already contacted Turkey regarding the future of the S-400 air defense missile system and will continue to maintain communication with Turkey on this issue.July 11 (KCNA) – A spokesperson for the DPRK Foreign Ministry issued a statement on July 11, saying that the United States and its allies recently revealed their intention to orchestrate confrontation during the NATO summit, undermining the European security environment and creating instability in the Asia-Pacific region. The spokesperson stated that the open incitement of confrontational behavior by the US-led NATO allies and partners during the summit proves that NATO is a "war-confrontational organization" seeking exclusive geopolitical interests and acting against international peace globally. The spokesperson added that NATO should have disappeared with the end of the Cold War, but in order to maintain and strengthen its status, it has recklessly pursued eastward expansion, systematically undermining the European security environment, shifting responsibility to other countries, and creating instability in the Asia-Pacific region. These provocative activities must not be tolerated. The spokesperson emphasized that the DPRK will accelerate its efforts to build up its strength to deter confrontational attempts and military threats, and safeguard national sovereignty, security interests, and regional peace and stability.Russian authorities in Rostov said the fires at two oil depots in the region have been extinguished.According to RIA Novosti, Ukrainian forces launched 41 attacks on Russias Belgorod region in one day, and 47 drones were intercepted.

Gold Price Prediction: XAU/USD soars above $1,780 amidst a turbulent US Dollar; US CPI in the focus

Daniel Rogers

Dec 13, 2022 12:07

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Gold price (XAU/USD) rebounded after falling below the critical level of $1,780.00 during the Asian session. The precious metal had a significant decline on Monday as investors anticipate the Federal Reserve (Fed) to signal a higher interest rate peak for CY2023.

 

A resurgence in the price of gold is contingent on an improvement in risk appetite. The US Dollar Index (DXY) has fallen below 105.00 in early trading, and further losses are anticipated in the days ahead. On Monday, S&P500 futures rebounded well as investors shrugged aside the uncertainty caused by inflation predictions. Yields on 10-year US Treasuries have under pressure and fallen below 3.60 percent as the Fed is very likely to signal a pause in future interest rate hikes.

 

A fall in one-year consumer inflation forecasts in the United States has also diminished consensus on casual inflation statistics. In November, the economic data decreased to 5.2% from 5.9% in October, marking the largest one-month loss on record. The headline inflation rate is anticipated to decline to 7.3% from 7.7%.

 

Analysts at JP Morgan Chase & Co. believe that a weak reading of the United States Consumer Price Index (CPI) might unleash a significant surge in U.S. stocks. Bloomberg reports that the 500-stock index of the United States might gain up to 10% if headline inflation falls to 6.9% or less.

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