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On March 17, the industry reported that Intel recently came to Taiwan to hold the "2025 Superfluid Advanced Cooling Technology Forum" and invited Taiwanese manufacturers to participate, mainly to promote the "superfluid cooling technology" to be launched in 2023. It is pointed out that this technology can currently enhance the heat dissipation capacity of the water cooling plate, which is enough to be used in Nvidias GB300 server with a power consumption of up to 1,400 watts, which may be released at the GTC conference this week.On March 17, UN Secretary-General Guterres issued a statement through his spokesman on the 16th, calling on all parties to "exercise maximum restraint" in Yemen and stop "all military activities". The statement said: "We note with concern that the United States launched multiple attacks on areas controlled by the Houthi armed forces in Yemen overnight, causing casualties. We are also concerned about the continued threat of the Houthi armed forces to resume attacks on ships in the Red Sea." The statement said: "Any further escalation may increase regional tensions and trigger a vicious cycle of retaliation, which will further undermine the stability of Yemen and the region and bring major risks to the countrys already severe humanitarian situation."March 17th, according to the Associated Press, French President Macron proposed some tasks that may be performed by the Ukrainian military support force. Paris and London are working with other countries to form a so-called "coalition of the willing" that may be deployed after a ceasefire with Russia and Ukraine. Macron said that the goal of the French and British blueprint is not to deploy "large numbers" of soldiers in Ukraine, but to envision stationing troop contingents at key locations. According to French media reports, Macron talked about the participating countries (of the willing coalition), each of which deployed thousands of soldiers to "key locations" in Ukraine. Macron was quoted as saying that their tasks may include providing training and supporting Ukraines defense to demonstrate long-term support for Kiev. Macron added that the proposed contingent from NATO alliance member states will become a "security guarantee" for Ukraine, and "several European countries, but also non-European countries, have expressed their willingness to join this plan after confirmation."March 17, according to the Times, at the "Coalition of the Willing" leaders meeting on March 15, British Prime Minister Starmer proposed a plan to send a Western peacekeeping force of more than 10,000 soldiers to Ukraine. Sources said that the total size of the Ukrainian peacekeeping force "will definitely exceed the 10,000 people that London is prepared to send."On March 17, CICCs research report pointed out that Ideal Auto (02015.HK)s fourth-quarter performance last year exceeded market expectations due to strong sales and reduced expenses, and its gross profit margin was lower than Ideal due to orders for MEGA and other models, interest-free plans, and provisions due to product portfolio. The bank maintains Ideals "outperform" rating. In terms of non-GAAP, considering that the company is mass-producing electric vehicles, it lowered its profit forecast for this year by 11% to RMB 12 billion, and maintained its profit forecast for next year. The bank is optimistic about the companys new models and artificial intelligence strategy, and maintains its H-share target price of HK$155 and its US stock target price of US$40.

Gold recovers after two days of losses as the dollar's spectacular ascent slows

Haiden Holmes

Jul 08, 2022 11:25


Following a two-day blitzkrieg that pushed the yellow metal's price to 10-month lows, gold bulls are currently enjoying a reprieve.


The question is whether or whether it will last. And may this time be the turning point for the fortunes of those who have invested heavily in bullion.


The answer may be very dependent on the dollar's future performance. This week, until Thursday, the Dollar Index, which measures the U.S. currency to six other majors, reached new 20-year highs.


Gold futures for August settled at $1,733.70 on the New York Comex on Thursday, a rise of $0.30. It touched a 10-month low of $1,730.70 on Wednesday, after dropping more than $75, or 4 percent, during the previous two days.


Gold's malaise is mostly attributed to market expectations that the Federal Reserve would conduct successive aggressive rate rises in a bid to combat inflation that has reached levels not seen in 40 years.


Fed officials have confirmed a substantial amount of this position, with Governor Chris Waller noting on Thursday that the central bank must "front-load" rate increases — that is, hike them early and forcefully if necessary — if it is serious about lowering inflation.


Waller argued that forecasts of a U.S. recession were "exaggerated," indicating that the economy could survive more rate increases without collapsing, and he supported a 75 basis point rate hike in July.


According to a number of analysts, the Federal Reserve kept interest rates too low for too long, and its catch-up might disrupt the recovery from the coronavirus pandemic made since last year, and perhaps precipitate a U.S. recession.


The Fed held interest rates between zero and 0.25 percent for two years during the outbreak until increasing them in March of this year. In April, it was raised by 25 basis points, or a quarter of a percentage point, and in May, by 50 basis points, or a half of a percentage point. In June, it increased rates by 75 basis points, or three-quarters of a percentage point – the highest rise in 28 years – to a range of 1.5 to 1.75 percent.


Inflation in the United States has been at four-decade highs since late last year, with the widely followed Consumer Price Index climbing at an annualized rate of 8.6 percent as of May. The inflation target of the central bank is merely 2 percent per year, and it has vowed to raise interest rates as much as necessary to achieve this.


Since the Atlanta Fed predicted a 1% decrease in gross domestic product (GDP) for the second quarter, there has been an uptick in recession talk around the United States. In the first quarter, the Commerce Department recorded an official GDP decline of 1.6%. Generally speaking, an economy is considered to be in recession if its GDP declines for two consecutive quarters.


Recent economic indications suggest that the United States may be on the cusp of an economic downturn.


The closely monitored indicator of the U.S. services sector hit a 20-month low in February, according to data released on Wednesday. According to monthly data issued by a private sector employment tracker on Thursday, the United States reported the highest number of job cuts in 16 months in June, indicating that the red-hot US labor market may be cooling. The Labor Department reported a decline in job openings from April to May, from 11,68 million to 11.25 million.


The Labor Department will release the more crucial June nonfarm payrolls data on Friday. Economists anticipate that around 268,000 payrolls were added in June, compared to 390,000 in May, keeping the unemployment rate at 3.6% for the third straight month. The Federal Reserve considers a rate of unemployment of 4 percent or less to signify full employment. To establish the employment market's sensitivity to interest rate changes, the central bank closely monitors all labor market statistics.

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