EUR/USD
1.16110
-0.123%
Gold
4385.67
-1.582%
Oil
89.896
1.738%
USD/JPY
159.477
-0.023%
GBP/USD
1.34021
-0.187%
GBP/JPY
213.738
-0.202%
Real-time News
On May 28th, according to Investinglive, gold prices fell to a two-month low this week due to a lack of substantial progress on the US-Iran issue and the risk of a hawkish stance from the Federal Reserve. Despite market expectations of an imminent agreement and the reopening of the Strait of Hormuz, no official confirmation has been released. Currently, there is only a lot of noise and rumors. Furthermore, in the past few days, both the US and Iran have conducted limited military strikes, but the US continues to maintain that the ceasefire agreement remains in effect. Regarding the Federal Reserve, a growing number of policymakers are now advocating abandoning the dovish bias, so we can expect this to happen at the June FOMC meeting. Moreover, if there are no changes in the US-Iran situation before then, with persistently high inflation and resilient US data, the market may see a hawkish surprise. In the short term, if the situation is resolved and the Strait reopens, lower oil prices and rising expectations of interest rate cuts may support gold prices. However, if the Strait remains closed for a longer period and oil prices remain high, the risk of the Federal Reserve being forced to raise interest rates will increase.Iranian Foreign Ministry spokesman: Iran expresses solidarity with Oman following “threats from U.S. officials.”According to RIA Novosti, the head of Russias Foreign Intelligence Service stated that the European Union is accelerating its military buildup and is evolving into a military alliance against Russia.On May 28th, European Central Bank President Christine Lagarde stated on Thursday that governments may be inclined to strengthen control over monetary authorities, making the maintenance of central bank independence even more crucial amidst an increasingly challenging global order. Lagarde said, "In an increasingly difficult world, the challenge is no longer just maintaining legal independence, but more importantly, maintaining the credibility needed to exercise that independence." "History has taught us a very clear lesson: building trust takes a long time, but losing it takes only a moment." Lagarde noted that over the past decade, the "de facto independence" of central banks in nearly half of the countries representing approximately 75% of global GDP has deteriorated. She also emphasized that policymakers face an increasingly unfavorable environment, including more frequent supply shocks, rising fiscal pressures, and declining public trust in public institutions. In this context, credibility earned through action is becoming increasingly decisive.On May 28th, SpaceX CEO Elon Musk stated on Thursday that SpaceX has only agreed to lease its Colossus AI training data center cluster to Anthropic for six months, but added that the agreement "could" be extended for several years. "SpaceX has not committed to leasing Colossus for many years, although that could certainly happen," Musk said. Earlier this year, SpaceX reached an agreement with Anthropic, with the latter paying $1.25 billion per month to use the computing power of its Colossus and Colossus II data center clusters in Memphis, Tennessee, until May 2029. SpaceX stated in a regulatory filing last week that either party can terminate the agreement with 90 days notice. The filing did not mention a six-month lease agreement. Musk stated that the agreement is a 180-day lease, after which either party can terminate it with 90 days notice. "We wont put them in a difficult position and will provide reasonable exit strategies, but if computing resources become extremely strained, I have indicated that we may need to reclaim those resources at some point." According to SpaceXs IPO filing, the companys AI business unit generated $818 million in revenue and incurred an operating loss of approximately $2.5 billion in the March quarter.
