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August 13th - According to foreign media citing sources familiar with the matter, Anthropic is in talks to acquire artificial intelligence startup Decart AI for approximately $6 billion. Sources indicate that the deal is not yet finalized and negotiations could fall through. If finalized, this would be Anthropics largest known acquisition, coming at a time when the market is highly anticipating the companys IPO. Decarts software helps chips run more efficiently, reducing the cost of training AI models. According to one source, this technology could help Anthropics existing infrastructure handle greater demand. Anthropic rarely makes large-scale acquisitions but has been investing heavily in computing power to develop new products and serve its customers.Futures Commentary by Everbright Futures: On August 12th, COMEX gold continued its rebound, approaching the 4500 level intraday, closing at $4469.0 per ounce, a gain of 0.63%. Domestic SHFE gold opened higher but closed lower in the night session, ending with a slight gain of 958.92 yuan per gram, a gain of 0.36%. 1. According to data released by the US Department of Labor on Wednesday evening, the US July CPI data showed a moderate cooling, rising 3.4% year-on-year, a slight decrease from the previous value of 3.5%, the lowest level since March; the core CPI year-on-year growth rate narrowed from 2.6% to 2.5%, both indicators were in line with market expectations. This alleviated market concerns about an unexpected rebound in inflation in the short term, but the July CPI and core CPI are still significantly higher than the 2% target, therefore, it cannot completely dispel market concerns about a Fed rate hike in September. Currently, the probability of a Fed rate hike in September remains around 45%. 1. With increasing divisions among Federal Reserve officials, the market is focused on Warshs remarks. His speech at the global central bank conference at the end of August will be exceptionally important and may provide some guidance for the September interest rate decision. 2. Geopolitically, according to Reuters, Iran and the United States remain deeply divided on pushing for a permanent end to the Gulf War. Sources indicate that negotiations between the two sides to restore the interim agreement reached in June and establish a timetable for its implementation have made no progress. US President Trump stated on Wednesday that the US has "complete control" over the Strait of Hormuz. However, the Persian Gulf Straits Authority, established by Iran to manage the waterway, stated that the strait remains closed and will not reopen until Irans conditions are accepted. In the short term, gold prices are gradually becoming less sensitive to geopolitical transactions, but the possibility of rising oil prices driving up inflation expectations remains. Attention should be paid to whether geopolitical tensions escalate further. 3. In the short term, the markets cooling expectations for a Fed rate hike may continue to drive gold prices higher. However, from the end of August to mid-September, the market will repeatedly price in whether the Fed will raise rates in September, requiring caution regarding the sustainability of the gold price rebound.On August 13th, the "Opinions of the CPC Guangdong Provincial Committee and the Guangdong Provincial Peoples Government on Further Leveraging the Leading Role of Standards to Promote High-Quality Economic and Social Development in Guangdong" were released. The Opinions propose to conduct standard planning for future industries. Research and planning of standard systems will be carried out in cutting-edge fields such as embodied intelligence, biomanufacturing, and quantum technology, exploring ways to guide the rapid iteration of leading and disruptive technologies through standardization. Pre-research work on standards will be strengthened to improve the scientific rigor and feasibility of standard development and shorten the cycle of transforming scientific and technological achievements into standards. Support will be given to the establishment of standardization technical organizations for future industries to promote the development and implementation of key standards.According to the Wall Street Journal, sources say Mexico is pushing for lower auto tariffs in the USMCA negotiations.On August 13th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.0610%, and the lowest was 0.6990%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0020%, and the lowest was 0.9020%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0090%, and the lowest was 1.9010%.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

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During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


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