EUR/USD 1.12078
0.087%
Gold 4166.85
0.143%
Oil 93.688
-0.190%
USD/JPY 158.206
-0.073%
GBP/USD 1.32724
0.134%
GBP/JPY 209.982
0.074%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
ASML will release its Q3 earnings report in ten minutes.On October 14th, according to Chery Group, on October 13th, the launch ceremony for 55% recycled steel automotive parts, themed "Shougang Together, Green Future," was held at Chery Automobiles Longshan Test Center. The 55% recycled steel, jointly developed by Chery and Shougang, achieved its industry debut and official application, propelling high-recycled-proportion automotive steel from material research and development to mass production.On October 14th, according to the Financial Times, CoreWeave, the Nvidia-backed AI cloud service provider, is seeking to attract a vast pool of funds from insurance companies to reduce its financing costs for purchasing AI chips and building infrastructure. CoreWeave co-founder and head of financing, Brenning McBee, stated that if the company can secure investment-grade ratings for more chip-backed debt and ultimately improve its own credit rating, it will have the opportunity to enter the insurance funding market. He noted that the insurance industrys funding is "virtually unlimited" because "all the money sitting in insurance pools is one of the worlds largest sources of funding." Earlier this year, CoreWeave secured an $8.5 billion loan backed by Nvidia chips and a long-term usage contract with Meta. CoreWeaves next step is to attract insurance companies to purchase loans backed by clients with lower credit ratings, such as financing for AI labs. So far this year, the company has raised over $35 billion through chip-backed loans, high-yield bonds, convertible bonds, and equity offerings. As of the end of June, the companys debt and lease obligations totaled approximately $52 billion.ECB Governing Council member Mollan: We have no power over parliamentary procedures.ECB Governing Council member Mollen: (When asked about the French budget) The ECB is focused on inflation and does not actually concern itself with the fiscal problems of any particular country.

Gold And Copper Prices Oscillate About $1,750 Despite Fed Hawkishness

Skylar Williams

Nov 21, 2022 11:29

109.png


As investors anticipated further clarity on the direction of U.S. monetary policy in the coming months, gold prices changed slightly on Monday, but remained near key support levels. In the meanwhile, copper prices remained low because of the likelihood that more COVID issues in China would decrease demand.


The minutes of the most recent Federal Reserve meeting are expected to provide fresh insight into the central bank's intentions for increasing interest rates when they are released on Thursday.


Inflation has fallen more than anticipated in recent months, prompting markets to anticipate a somewhat smaller rate hike in December. However, recent remarks from Fed officials indicate that interest rates may continue to rise for longer than anticipated.


This view is beneficial for the currency and Treasury rates, but it will likely damage metal markets. The greenback appears to have found a bottom following recent losses, and rose 0.1% to 107 on Monday.


As of 19:05 EDT, spot gold rose 0.1% to $1,752.81 per ounce, while gold futures inched up to $1,754.90 per ounce (00:05 GMT). In response to the Federal Reserve's members' warnings of rising interest rates, the value of both assets declined by nearly 2 percent last week.


As a result of the Federal Reserve's streak of quick rate hikes this year, non-yielding assets, such as gold, have become less desirable.


Despite the fact that metal markets climbed earlier this month on signals of a reduction in U.S. inflation, they are expected to remain under pressure in the coming months, as inflation remains well over the Fed's 2% annual target.


Copper prices stayed largely constant on Monday, following a week of significant drops due to concerns over China's import demand.


Copper prices stayed stable at $3.6405 per pound following last week's 7.2% decrease, their worst performance since late August.


China has shut down further sections of the country in response to the greatest COVID outbreak in seven months. This year, the country's strict zero-COVID policy, which led to a multitude of disruptive lockdowns, severely hampered economic growth.


This decreased national demand for commodities.


Despite indications of a limited supply, rising fears of a global recession have also hampered copper's future prospects.

Suggestion