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Ideal Auto (02015.HK): Since the start of delivery of Ideal L6, the cumulative deliveries have exceeded 220,000 units.Galaxy Entertainment (00027.HK): Net profit for the full year of 2024 is HK$8.76 billion, estimated at HK$9.11 billion; full year revenue is HK$43.43 billion, estimated at HK$43.77 billion.The Hong Kong Exchanges and Clearing Limited (00388.HK) has a net profit of HK$13.05 billion for the full year of 2024, which is estimated to be HK$12.95 billion; the full year revenue and other income is HK$22.37 billion, which is estimated to be HK$22.28 billion.On February 27, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said yesterday that the countrys crude oil production has increased by more than 70% since 2021. The agencys CEO, Engr. Gbenga Komolafe, said that "production has increased from 1 million barrels per day in 2021 to around 1.75 million barrels per day at present." Nigerias oil and gas industry is the core of the economy, contributing 95% of foreign exchange earnings and 70% of government revenue. Komolafe also said that although Nigerias current daily production is 1.75 million barrels, the countrys technical potential is 2.24 million barrels per day. According to him, the commission is working to narrow the gap between actual production and potential. "The potential for increased production is huge, and NUPRC is committed to unlocking every opportunity," Komolafe said.Most of the interbank repo rates rose. FDR001 fell 1.0 basis points to 1.89%; FDR007 rose 5.0 basis points to 2.35%; FDR014 rose 10.0 basis points to 2.35%.

Forecast for Gold Price: XAU/USD bulls want confirmation from $1,905

Daniel Rogers

Feb 06, 2023 15:36

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Gold price (XAU/USD) recovers from monthly low, grinding higher at intraday highs near $1,878 as the European session begins on Monday. In doing so, the yellow metal reverses a two-day slump in the face of a sluggish US Dollar, negative sentiment, and aggressive Fed sentiment.

 

The positive US jobs report and ISM Services PMI on Friday rekindled speculation that the Federal Reserve (Fed) had leeway to raise interest rates. However, the US shooting of a Chinese balloon and the cancellation of US Secretary of State Antony Blinken's visit to Beijing weigh on the market's risk profile. In the same vein, China warned not to exacerbate the delicate situation and described the incident as a "obvious overreaction."

 

The US Dollar Index (DXY) stays passive despite a comeback in US Treasury bond yields and slight losses in stock futures. The cause may be the DXY bull's hesitation ahead of Fed Chair Jerome Powell's speech on Tuesday.