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Sudans military says it is advancing towards retaking the key city of Wad Madani from the paramilitary Rapid Support Forces (RSF).On January 11, according to the news released by UTair, a passenger plane of the company from Moscow to Dubai returned to Moscow Vnukovo Airport after takeoff on January 11, local time. It was reported that the model of the passenger plane was Boeing 767, and the reason for the planes return was a malfunction of the hydraulic oil equipment of the passenger plane. Fortunately, all passengers and crew members were safe.On January 11, it was reported that the new M8 adopts the design language of the SUV models of the Wenjie family, equipped with through-type headlights and semi-hidden door handles. In terms of parameters, the length, width and height of the car are 5190/1999/1795mm respectively, and the wheelbase is 3105mm. In terms of appearance, the M8 and M9 are slightly different, but they are also very recognizable. Two types of wheels, dense spokes and sports, appear in the declaration picture. In terms of power, the new car will be equipped with a 1.5L range extender with a power of 118kW, and the four-wheel drive version will be equipped with a front 165kW and rear 227kW drive motor, with a maximum speed of 200km/h. The Wenjie M8 has declared 6 different versions of models this time, providing three pure electric ranges of 161/235/240km, and fuel consumption (estimated to be in the feeding state) of 6.60L/100km.On January 11, during this years CES, Luca Rossi, executive vice president of Lenovo Group and president of the Intelligent Devices Group (IDG), said in an interview with the media that AI PCs will occupy a larger market share in 2025. He predicts that the penetration rate of AI PCs will reach 40%-50% or even as high as 80% in the next two to three years. "In the next three to four years, every PC will become an AI PC."Market news: Hyundai Motor Company donates $1 million to Trumps inauguration fund.

Gold Price Prediction: XAU/USD clings to 29-month low near $1,650; Ukraine, Fed's Powell in spotlight

Daniel Rogers

Sep 26, 2022 12:01

Gold price (XAU/USD) licks its wounds around a two-year bottom, at $1,645 during Monday's Asian session, as bears take a breather following the week's largest daily decline ahead of important catalysts. The contradictory news regarding Europe and Russia may further put pressure on metal prices. Despite this, bears remain optimistic despite the widespread rush to endanger safety.

 

Germany's ability to secure a gas contract with Abu Dhabi, as well as Russia's lack of rapid response to Group of Seven (G7) chatter about mustering guts against Moscow, indicated a correction in mood. Recently, a holiday in New Zealand and a light calendar in Asia allowed the XAU/USD bears to catch their breath.

 

During the past week, the gold price was pushed down by high US PMIs, weak activity data from the bloc, Russia's stern warning to the West, and the Group of Seven's (G7) readiness to respond with penalties. In addition, the XAU/USD was pulled down by hawkish central bankers and fears of recession.

 

Nonetheless, the initial readings of the S&P Global PMI for the month of September indicated that the European economy contracted significantly, hampered by rising energy prices. The German Services PMI reached its lowest level in two years, while its European counterpart reached its lowest level in 19 months. In addition, Manufacturing PMIs reached their lowest level in twenty months. In September, the US S&P Global Manufacturing PMI increased to 51.8 from 51.5, and the US S&P Global Services PMI improved from 44.6 to 49.0.

 

Jerome Powell, chairman of the Federal Reserve, stated elsewhere on Friday, "We are committed to deploying our tools." Following him, Fed Vice Chair Lael Brainard stated that 'hard' inflation is impacting low-income people. Raphael Bostic, president of the Atlanta Federal Reserve, told CBS' "Face the Nation" over the weekend that he still believes the central bank can reduce inflation without substantial job losses, given the economy's sustained pace, as reported by Reuters, citing the Fed official's interview.

 

According to a recent CBS interview, Ukraine's president Zelenskiy stated that "Putin's nuclear threats may have been a bluff, but now they might become a reality." The United States, meanwhile, warned of "catastrophic repercussions" if Moscow used nuclear weapons in Ukraine, after Russia's foreign minister stated that territories hosting heavily condemned referendums would receive full security if annexed by Moscow.

 

Wall Street closed in the red, US Treasury yields increased, and the US Dollar Index (DXY) reached a new multi-year high against this backdrop. Consequently, S&P 500 Futures record modest losses at the latest.

 

Intraday movements will be heavily influenced by Italy's election results and a statement by European Central Bank (ECB) President Christine Lagarde. Nonetheless, the week will be dominated by the Ukraine-Russia conflict, comments from Fed Chair Powell, and US Durable Goods Orders for direction.


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