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On August 30th, according to Axios, on Friday evening, some of the worlds largest music publishers filed a major lawsuit against Anthropic, accusing it of "one of the largest and most blatant acts of intellectual property theft in history." This lawsuit marks the beginning of a long struggle over music, artificial intelligence, and how to protect intellectual property in the new technological age. A subsidiary of Sony Music and Warner Music filed the lawsuit Friday evening in the Northern District of California federal court, naming Anthropic, its CEO Dario Amodie, and co-founder Benjamin Mann as defendants.August 29th - According to the Japan Meteorological Agency, a magnitude 4.8 earthquake struck off the eastern coast of Chiba Prefecture, Japan, at approximately 00:17 local time on August 30th, with a focal depth of about 30 kilometers. The epicenter was located off the eastern coast of Chiba Prefecture, and tremors were felt in Ibaraki Prefecture, Tokyo, and other areas.Domestic News: 1. Wang Yi speaks with Nepalese Foreign Minister Shisir by phone. 2. my country achieves its first high-speed two-way laser communication between Earth and the Moon. 3. National Bureau of Data Science: Demand for meta-based computing is experiencing explosive growth. 4. As of the end of July, my countrys total intelligent computing scale reached 2.45 million PFLOPS. 5. In the first half of the year, 35,000 new foreign-invested enterprises were established nationwide, a year-on-year increase of 7.0%. 6. Nanjing Housing Provident Fund Management Center: Further expands the scope of inter-city housing provident fund loans. 7. Changxin Memory responds to lawsuit against the US Department of Defense: Only researches and produces DRAM products for commercial and civilian use, not for military purposes. International News: 1. Ukraine claims Russia may be planning a new ground offensive against Kyiv. 2. The Russian government has extended the export ban on diesel producers until the end of September. 3. OpenAI announces termination of its partnership with Cursor due to SpaceXs acquisition of the company. 4. US Defense Secretary Hergsays reportedly considering running for president in 2028? The Pentagon denies this. 5. The CFTC confiscated $172,000 from a former White House teleprompter for illegally trading information from Trumps speeches. 6. Middle East Situation—① Iranian media: $7.5 billion in oil revenue has been transferred to the Central Bank of Iran. ② Iranian Foreign Minister: US government officials manipulated the energy market for personal gain. ③ Iran says US military bases in the region are only for protecting Israel.On August 29, Al Jazeera reported that the Iraqi armed group Kataib Sayyid al-Shuhada stated it would cooperate with arms control in Iraq only if 10 conditions were met, the most important being the complete withdrawal of US troops from Iraq. This group has long maintained ties with the Iranian Revolutionary Guard. In its statement, the group demanded the termination of the US military presence in Iraq "under any pretext" and a ban on attacks against neighboring countries using Iraqi airspace. The group also demanded that all weapons be brought under national control only if measures were simultaneously taken to strengthen Iraqs armed forces and air defense capabilities. Other conditions proposed by the group included the withdrawal of Kurdistan Workers Party (PKK) militants from Iraqi territory, federal government control of the Kurdish border regions, and the elimination of Iranian opposition groups stationed in northern Iraq.On August 29, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, spoke by phone with Nepalese Foreign Minister Shisir. Wang Yi stated that Chinas comprehensive aid package to Nepal is being implemented, including emergency cash assistance and humanitarian aid. Relief supplies provided by China are about to arrive in Kathmandu. Chinese tunnel rescue experts have been dispatched in two groups to the disaster area and Kathmandu to provide assistance. China has shared important information with Nepal, including images of the disaster area, satellite and hydrological data, and early warning information about the upstream landslide dam. China has made appropriate arrangements for Nepalese citizens stranded on the Chinese side and will assist them in returning to Nepal as soon as possible. China thanks and hopes that Nepal will continue to assist and evacuate Chinese citizens in Nepal. China and Nepal are a community linked by mountains and rivers, sharing a common destiny. Faced with the disaster, the two countries must stand firmly together, work hand in hand to overcome difficulties, and demonstrate the traditional friendship that transcends the Himalayas with concrete actions.

As a result of the Fed's hawkish stance, the AUD/USD has fallen below 0.6600, shifting market focus to PMI data

Alina Haynes

Sep 22, 2022 14:57

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The Australian dollar was trading below the 0.6600 US dollar support level during the Tokyo trading session. As a result of the Federal Reserve's interest rate decision, the asset is tumbling like a pack of cards (Fed). The two-day downtrend has resumed, and the asset is now trading below the round-number support of 0.6600. The asset is expected to have support close to the 0.65 level.

 

Investors believed the Federal Reserve will raise interest rates by 75 basis points (bps) for a third time in a row. Volatile hawkish counsel has had an effect on risk-sensitive and commodity-linked currencies. The Fed has put off job growth, economic prospects, the housing market, and demand for durable goods in order to maintain price stability, which is its core goal.

 

The target for maturity rates is 4.6%, which is significantly higher than the previous peak of 3.6%. Because of this, the distribution of loans will be slowed and the market liquidity will decrease. Lenders may also see an increase in their delinquency fees as a result. Since fewer loans are being made available, some companies may delay expansion plans.

 

The financial markets in Australia will be closed on Thursday for National Mourning Day. Accordingly, the performance of the US dollar index will continue to be scrutinized closely (DXY). The S&P Australian PMI data is expected to be issued on Friday, and investors will continue to keep a close eye on it. It is expected that the Manufacturing PMI would rise from 53.8 to 54.0. While we expect the Services PMI to drop from its current 50 to a much more modest 47.7.