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Bank of England: Given limited demand, we will not make any changes to the evening CHAPS (Automatic Payment Clearing System) contingency window.Bank of England: Work on other extended phases, including bank holiday settlements and a broader roadmap toward closer 24x7 settlements, will continue.The Bank of England announced that it will extend the hours of the CHAPS (Automatic Payment Clearing System) settlement service, changing the start time from 06:00 to 01:30.On February 24th, DJI officially filed an appeal with the U.S. Ninth Circuit Court of Appeals, challenging the Federal Communications Commissions (FCC) improper decision on December 23, 2025, to place DJI and its products on the "Controlled List." DJI stated today (February 24th) that this move aims to protect DJIs legitimate rights and interests, as well as the interests of American consumers and agricultural users who rely on DJI products but are affected by the ban. In its complaint, DJI stated that the FCCs decision has serious procedural and substantive flaws. The FCC placed DJI on the "Controlled List" without providing any substantial evidence that DJI products pose a threat to U.S. national security, which not only violates due process principles but also potentially violates the U.S. Constitution and relevant federal laws.On February 24th, the British Foreign Office issued a statement imposing sanctions on 175 entities within the "2Rivers" network on the fourth anniversary of the outbreak of the Russia-Ukraine conflict. The action also targets Transneft, one of the worlds largest oil pipeline companies, which the UK claims handles over 80% of Russias oil exports. The British Foreign Secretary stated that the UKs decisive action today cuts off key funding, military equipment, and revenue sources supporting Russias aggression, representing the largest sanctions measure since the early stages of the Russia-Ukraine conflict. The "2Rivers" network, linked to Azerbaijani traders Aitibar Eyub and Tahir Garayev, continued to transport hundreds of millions of barrels of Russian crude oil despite international sanctions imposed due to the conflict. This offshore network, formerly known as "Coral," expanded rapidly before EU and UK sanctions weakened its operations in 2024. At the time, Garayevs lawyer denied any connection to Transneft or Eyub, stating that he had not been involved in any oil-related business since the end of 2022.

Gold Price Prediction: XAU / USD corrects to around $1,910 despite intensifying concerns of a global banking crisis

Alina Haynes

Mar 16, 2023 14:00

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After reaching a new six-week high at $1,937.39, the gold price (XAU/USD) displayed a corrective move during the Asian session. As gold's allure is extremely strong amid growing concerns about the global banking crisis, a correction in the precious metal appears to be short-lived. Credit Suisse's debacle following the failure of Silicon Valley Bank (SVB) has triggered the risk of global financial instability, and uncertainty over the Federal Reserve's (Fed) upcoming interest rate decision has bolstered the case for the Gold price.

 

S&P500 futures have shown a recovery move following Wednesday's sell-off as investors assess the banking sector's uncertainty. However, the motif of risk aversion has not yet completely subsided.

 

During the Asian session, the US Dollar Index (DXY) is fluctuating in a narrow range of around 104.60. It appears that the impact of banking sector turmoil is maturing for the USD Index, and investors are beginning to discount expectations for next week's monetary policy. According to the CME FedWatch instrument, the probability that Fed chair Jerome Powell will raise interest rates by 25 basis points (bps) has risen above 70%. While 30% of the probabilities support maintaining the current interest rate policy.

 

Increasing odds of a status quo monetary policy are supported by a declining Consumer Price Index (CPI), a rising Unemployment Rate, sluggish Retail Sales, and a declining Producer Price Index (PPI).