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On April 11th, the High-Level Forum on the Development of Intelligent Electric Vehicles (2026) was held. Su Bo, Vice Chairman of the National Manufacturing Power Construction Strategy Advisory Committee and former Vice Minister of the Ministry of Industry and Information Technology, stated that the 15th Five-Year Plan period is crucial for my countrys transformation from a major automobile producer to a leading automobile power. New energy vehicles must shoulder the national mission of building a strong manufacturing nation, a strong science and technology nation, a strong transportation nation, and achieving the "dual-carbon" goals. By 2030, new energy vehicles will become the absolute mainstay of the automobile market, with a domestic penetration rate exceeding 70%. The goal of building a leading new energy vehicle nation is expected to be achieved ahead of schedule by the end of the 15th Five-Year Plan period.NASA: The four astronauts who were on the Artemis 2 mission safely exited the spacecraft.New Energy Vehicles: 1. China Association of Automobile Manufacturers (CAAM): Chinas new energy vehicle sales reached 1.252 million units in March, a year-on-year increase of 1.2%. 2. The Netherlands became the first EU country to approve Teslas Full Self-Driving (FSD) software for road use. Other: 1. TSMCs revenue in March was NT$415.19 billion, a year-on-year increase of 45.2%. 2. The Hong Kong Monetary Authority issued the first batch of stablecoin issuer licenses to Point Point Financial and HSBC. 3. The Internet Society of China issued an initiative: not to mandate "lowest price across the entire network" or enable "automatic price matching". 4. The Cyberspace Administration of China and five other departments jointly announced the "Interim Measures for the Administration of Humanized Interactive Services of Artificial Intelligence". 5. A number of important national standards were released, including those for brain-computer interfaces, intelligent connected vehicles, semiconductor devices, and Beidou chips. 6. Automated high-frequency ticket grabbing is strictly prohibited: Ctrip, Tongcheng, Qunar, Fliggy, Meituan, Zhixing, and High-Speed Rail Butler were summoned for talks. 7. The Change-7 probe has arrived at the Wenchang launch site, and my country will deeply integrate its existing resources and capabilities in the fields of manned lunar landing and unmanned lunar exploration. April 11 - According to the Yangpu Transportation and Port Authority, in the first quarter of 2026, Yangpu Ports container throughput reached 983,700 TEUs, nearly doubling (up 94.37% year-on-year); among them, the growth rate of foreign trade container throughput was particularly rapid, basically achieving a 2-fold increase (up 199% year-on-year), successfully achieving a "good start" for port production in the first quarter.April 11th - According to Dutch regulators, Full Self-Driving (FSD) has received regulatory approval in the Netherlands, marking the first time FSD has been approved in the European market. Tesla hopes other EU countries will follow suit. Widespread adoption of FSD is central to Teslas growth strategy. A significant portion of the companys current valuation of approximately $1 trillion depends on Elon Musks bet that AI-powered self-driving software and robotaxis will become the companys primary revenue streams in the future.

Gold varies between $1,700 and $1,600 a week before the Fed meeting

Haiden Holmes

Jul 21, 2022 11:12

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Even without Fed officials continually bombarding the airwaves with suggestions of a rate hike, gold's position above $1,700 remains shaky.


In post-settlement trading on Wednesday, gold futures for August delivery on New York's Comex slipped again below $1,700 an ounce, a week before the central bank's announcement on July interest rates, after finishing the official session just above the crucial psychological support.


August was trading at $1,698.15, down $12.55, or 0.7%, at 2:16 PM ET (18:16 GMT).


Following a daily fall of $10.50, or 0.6%, it closed at $1700.20, putting the session close to the $1700 mark.


Despite Fed officials' normal 10-day speech restriction leading the July 27 rate decision, gold bulls have been unable to propel the market significantly higher from last week's 11-month low of $1,695.


With the exception of the dollar's first rebound in over a week, although to levels well below last week's 20-year highs, no major reason contributed to gold's resumption of its drop on Wednesday.


Phillip Streible, precious metals strategist at Blueline Futures in Chicago, observed, "There was consensus that if the dollar rebounds, gold might fall below $1,700, and I believe that's what you're witnessing."


The Dollar Index, which compares the U.S. dollar to six other major currencies, revisited 2002 highs last week as the US Consumer Price Index for the year to June reached four-decade highs of 9.1%. The ensuing dollar increase prompted money market traders to speculate on an unprecedented 100-basis-point Fed rate hike in July. Since then, the current consensus forecasts a 75-basis-point increase in interest rates.


In addition to the absence of Fed comments, U.S. macroeconomic data have been especially poor this week, providing traders more leeway with regard to direction, fund flows, and trading volumes. Although gold bulls had an equal chance of seizing the initiative, their passivity has seemed to constitute a greater proportion of their bravery.

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