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The Ukrainian Ministry of Defense reported that in the first half of 2026, the Ukrainian military signed drone contracts totaling approximately $7.5 billion, double the total for the previous year. FPV drones accounted for the largest share of these contracts.On July 18, Chen Jining, Secretary of the Shanghai Municipal Committee of the CPC, met with Richard Sutton, Turing Award laureate and Chief Scientist of Openmind Research Institute, who was in Shanghai to attend the 2026 World Artificial Intelligence Conference and the High-Level Meeting on Global Governance of Artificial Intelligence. Chen Jining introduced the development of artificial intelligence in Shanghai. He said that artificial intelligence is one of the three leading industries that Shanghai is focusing on developing. Adhering to the people-centered and benevolent principles, Shanghai maintains strategic agility and perseveres, focusing on strengthening basic research, cultivating and optimizing the innovation ecosystem, and accelerating the construction of a high ground for artificial intelligence development and governance innovation. Mr. Sutton is a renowned scholar in the field of artificial intelligence. He welcomed him to seize this rare historical opportunity to more closely integrate his research advantages with Shanghais innovation advantages, talent advantages, and ecosystem advantages, and to deepen communication, cooperation, and open collaboration in strengthening basic research and talent exchange and training, so that this cutting-edge technology can better benefit human society. Shanghai will continue to create an open and inclusive innovation ecosystem, provide efficient and convenient matching services, and better support global scientists and talents to innovate, start businesses, and achieve their dreams in Shanghai.On July 18, Kuwait Oil Company (KOL) stated in a press release that a "critical" facility was subjected to multiple fierce attacks by Iran, resulting in multiple casualties and significant damage. The injured have received medical treatment, and the facility has been evacuated. KOL is coordinating with relevant departments to respond to the attack. The press release did not specify the exact location of the attacked facility.According to the Kuwait News Agency, the Kuwait Petroleum Corporation (KPC) stated that an Iranian attack damaged an oil facility, resulting in injuries and significant property damage.According to the Jordanian National News Agency, Jordan intercepted and shot down four drones that had violated its airspace.

Gold Price Prediction: XAU/USD bears at $1,650 on Fed hawkishness and China news

Daniel Rogers

Sep 19, 2022 14:34

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During early Monday morning in Europe, the gold price (XAU/USD) maintains a position close to the intraday low at $1,670. In doing so, metal prices endure the weight of a stronger U.S. dollar amidst a sluggish session caused by Japanese and British vacations. The cause may be related to the Fed's hawkish bets and China-related news stories.

 

US Dollar Index (DXY) reverses a two-day slump while posting intraday gains of 0.18 percent at 109.85 as of press time. Indicators of the U.S. dollar's value versus the six major currencies have recently been buoyed by the University of Michigan's September consumer sentiment report and the market's positive expectations on the Fed's next move. Consequently, the probability of a 75-basis-point (bps) rate hike by the Federal Reserve increased to 80%, while the market's estimates of a one-percentage-point increase in the Fed rate rose to 20% at the latest.

 

US President Biden stated elsewhere, "I'm more positive than I've been in a long time." The national leader also claimed that inflation will be brought under control. On the same line are the covid updates from China, which have unlocked Dalian and Chengdu while observing zero coronavirus cases in Beijing and one, as opposed to zero the day before, outside of Shanghai's quarantine zone. However, US President Biden's willingness to support Taiwan in the event that China assaults Taiwan and hawkish expectations for the Federal Reserve appear to weigh on the steel price ahead of the major monetary policy pronouncements.

 

In addition, the People's Bank of China (PBOC) reduces the 14-day reverse repo rate by 10 basis points to 2.15 percent. "With no maturing reverse repos on Monday, the Chinese central bank injects 12 billion yuan," reports Reuters. The same might have indicated that the dragon nation is not in recovery mode and requires more rate cuts than rate raises, which could have caused the gold price to plummet. The cause is China's position as one of the world's largest gold consumers.

 

In light of this, the S&P 500 Futures post modest losses while mirroring Wall Street's Friday close. Notably, the selling in Japan curbs bond movements in Asia, but yields are robust near the multi-day high due to fears of a recession and hawkish Fed views.

 

Moving forward, a light economic calendar and important market holidays may limit intraday XAU/USD price fluctuations. However, bears are expected to maintain control because to aggressive Fed expectations, which, if dashed, might defy the bearish chart pattern and spark the long-awaited rally.

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