Vivek Arya: AI memory supply-demand imbalance will continue until the end of next year

According to a report by Golden Ten, Deutsche Bank analyst Michael Hsueh has lowered his third quarter gold price forecast by over 20% to $4300 per ounce and his fourth quarter price forecast by 17% to $4800 per ounce. Michael Hsueh pointed out that weak demand for exchange traded funds and weakened buying intentions in some countries have led to a lack of investor demand.

A survey by Citigroup and YouGov found that the UK's inflation expectations for the next year fell from 4.7% in May to 3.8% in June, with long-term inflation expectations dropping by 0.1 percentage points to 3.9%. The market's bets on the Bank of England raising interest rates have decreased.

CommSec, an online securities trading platform under the Commonwealth Bank of Australia, has implemented temporary sell only restrictions on multiple cryptocurrency ETFs in Australia that have physical redemption capabilities. Monochrome CEO Jeff Yew stated that IBTC and IETH can still be traded through other brokers, and is currently in communication with CommSec to ensure their understanding of the physical subscription and redemption operation framework and investor protection mechanism of IBTC and IETH.

Binance stated that the participation threshold for the Cap (CAP) TGE event is 225 Alpha points, and 15 points will be deducted for participation. The event is open from 18:00 to 20:00 today (UTC+8).

Citigroup strategists say that corporate profits are strong and liquidity has not tightened yet, and it is too early to assert that the AI deal will end. Dirk Willer pointed out in the report that the rotation towards Europe caused by the decline in oil prices is only a temporary phenomenon, maintaining a surplus in the US and emerging Asian markets. Given that the Federal Reserve has not yet raised interest rates and its balance sheet is still expanding, Citigroup strategists believe that the bull market in the US stock market remains intact.