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On September 22nd, UBS strategists pointed out that the popularity of Metas new consumer-facing AI agent, Muse, indicates a growing demand for products across the entire AI supply chain. They stated that the successful launch of Muse demonstrates that AI companies have other revenue streams besides selling technology to large enterprises. The strategists added that increasing competition in the AI product sector will further drive demand for computing power and AI infrastructure, benefiting leading companies in the high-quality semiconductor and hardware industries.On September 22, at the 2026 Intel Technology Innovation and Industry Ecosystem Conference, Intel CEO Li-Wu Chen stated that as the cornerstone of modern computing, x86 continues to drive the development of computing towards intelligent applications. Leveraging Intels unique advantages in CPUs, GPUs, ASICs, advanced packaging, and wafer manufacturing, along with its open ecosystem covering cloud, edge, and device, Intel is confident in seizing unprecedented development opportunities together with customers and ecosystem partners. "Over the past year, my team and I have been dedicated to shaping a revitalized Intel, one that inherits its deep-rooted heritage while focusing on technological innovation, engineering strength, rapid execution, and customer focus," said Chen. He added that Intel is continuously strengthening its execution capabilities to better support the development and success of its ecosystem partners, and looking to the future, will work with them to define the next generation of computing.On September 22, according to Saudi Arabias Al Arabiya television, Israeli Defense Minister Katz stated that Israel will not completely withdraw from the Gaza Strip as long as Hamas exists. Katz said that Israeli troops will continue to be deployed in the Gaza Strip, Lebanon, and safe zones in Syria. He also stated that Israel is prepared to strike Iran again to overthrow the Iranian regime if necessary.On September 22nd, Afonso Borges, a fixed-income analyst at Julius Baer, noted in a report that the flattening of the US Treasury yield curve following the Federal Reserves "clearly hawkish" interest rate decision last week indicates that the Feds increased credibility is suppressing long-term yields. Borges stated that this phenomenon supports Julius Baers strategy of favoring medium-duration assets. He pointed out, "Unlike typical rate hike cycles after the global financial crisis, last weeks decision was by no means dovish." Borges added that previously, betting on a steepening yield curve was a primary way for the market to express concerns about institutional credibility, and the reversal of this trend suggests that the Feds willingness to tighten policy has alleviated these concerns. "For portfolios, this supports our overweighting of duration, with a focus on medium-term bonds."Slovak Prime Minister Fico: The EU should hold a special summit to discuss fuel prices.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


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