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October 16th - According to sources, the European Union is preparing to expedite antitrust approval for Project Bromo, a European satellite joint venture. The project, jointly developed by Airbus, Leonardo of Italy, and Thales of France, aims to create a European satellite industry giant and reduce reliance on US satellite service providers such as SpaceX (SPCX.O). Sources say the European Commission has been consulting with the three companies for the past year to identify and address potential competition issues in advance. The three companies have not yet formally submitted their approval applications but are expected to do so in the coming weeks. If the companies propose remedial measures such as asset divestiture, the project could be approved after a first-phase antitrust review lasting just over a month, bypassing the lengthy in-depth investigation that can take several months. European Commission President Ursula von der Leyen supports the project, but EU Competition Commissioner Agnès Rivera emphasized that even with political support, the project must still comply with EU competition regulations.According to Israeli media: US Secretary of State Marco Rubio and Israeli Prime Minister Benjamin Netanyahu held a phone call.Musk: Old friends are best friends. Jensen Huang is amazing. The StarMind computer, jointly developed by SpaceX (SPCX.O) and Nvidia (NVDA.O), has far exceeded almost everyones expectations and will enter mass production next year.Market news: The European Union is preparing to accelerate its satellite project in order to compete with SpaceX (SPCX.O).Freddie Mac: The average 30-year fixed-rate mortgage rate in the U.S. was 7.40% in the week ending October 15, unchanged from the previous week.

Gold Price Prediction: XAU/USD attempts to increase auction profile over $1,840 prior to Fed minutes

Daniel Rogers

Jan 03, 2023 15:06

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After surpassing the crucial resistance of $1,823.00 in the Asian session, the gold price (XAU/USD) has exhibited a robust upward trend. In response to a fall in the desirability of safe-haven assets, the precious metal seeks to raise its auction profile over the $1,840.00 barrier.

 

The momentum has moved to the risk appetite theme as a result of the S&P500 futures' abrupt comeback. In the meantime, the US Dollar Index (DXY) has attempted a rebound after falling close to 103.15, a key support level. Ahead of Wednesday's release of U.S. ISM Manufacturing PMI data, investors should anticipate volatility in the foreign exchange market (Dec). According to predictions, the economic data will decrease to 48.5, from 49.0 previously.

 

The explanation for the lower consensus for ISM PMI data could be the Federal Reserve's (Fed) higher interest rates, which have caused businesses to delay growth plans to avoid incurring greater interest commitments.

 

In addition to the Manufacturing PMI, the Federal Open Market Committee (FOMC) minutes will dominate the news. Investors will closely monitor economic estimates and monetary policy indicators for CY2023.


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