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Russia has stated that its troops have captured the village of Tsvetkove in the Zaporizhzhia region of Ukraine.On February 15th, Russian Deputy Foreign Minister Galuzin stated that Russia is willing to discuss the possibility of introducing a UN-led interim external governance mechanism into Ukraine with the United States, Europe, and other regional countries. Galuzin stated that this approach would allow Ukraine to hold democratic elections and produce a government with governing capacity capable of signing peace treaties and other legitimate treaties related to international cooperation. Similar precedents have been set in UN peacekeeping operations. In March 2025, Russian President Putin stated that this was a feasible option. Galuzin also indicated that the possibility of such an approach has not been publicly discussed recently.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to the bottom line and actively and steadily resolve risks in key areas. Strengthen the coordination between risk prevention and development promotion policies to further enhance development resilience. Focus on stabilizing the real estate market, implementing city-specific policies to control new supply, reduce inventory, and optimize supply, encouraging the acquisition of existing commercial housing for the purpose of affordable housing, etc. Deepen the reform of the housing provident fund system, orderly promote the construction of "good houses," and accelerate the construction of a new model for real estate development. Actively and orderly resolve local government debt risks, urging local governments to proactively resolve their debts. Optimize debt restructuring and replacement methods, and take multiple measures to resolve the operational debt risks of local government financing platforms.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to persist in reform and strengthen the driving force and vitality of high-quality development. This includes formulating regulations for the construction of a unified national market, thoroughly addressing "involutionary" competition, and creating a sound market ecosystem. It also includes formulating and implementing a plan to further deepen the reform of state-owned assets and enterprises, and improving supporting regulations and policies for the Law on Promoting the Private Economy. Furthermore, it calls for accelerating the clearing of overdue payments to enterprises, promoting win-win development for platform enterprises and their operators and workers, expanding pilot projects for market-oriented reforms of factors of production, optimizing the structure of fiscal transfer payments, and improving the local tax system. Finally, it emphasizes further promoting the reduction and improvement of small and medium-sized financial institutions and continuously deepening the comprehensive reform of investment and financing in the capital market.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to innovation-driven development and accelerate the cultivation and expansion of new growth drivers. It emphasizes adhering to the principle of using scientific and technological innovation to lead industrial upgrading and continuously generate new quality productivity. It calls for formulating an integrated plan to promote the development of education, science and technology talent. It also emphasizes building international science and technology innovation centers in Beijing (Beijing-Tianjin-Hebei region), Shanghai (Yangtze River Delta region), and the Guangdong-Hong Kong-Macao Greater Bay Area, creating world-class sources of scientific and technological innovation. Furthermore, it stresses strengthening the leading role of enterprises in innovation, supporting the expansion of application demonstrations of new technologies, new products, and new scenarios, improving the intellectual property protection system in emerging fields, and accelerating the transformation of scientific and technological achievements. The article also calls for formulating an action plan to expand and improve the service industry, implementing a new round of high-quality development action for key industrial chains, deepening and expanding "artificial intelligence +", improving artificial intelligence governance, and innovating science and technology financial services.

EUR/USD Expects Fourth Weekly Gains Above 1.0900 Despite The US Dollar's Rebound Advance Ahead Of US NFP

Daniel Rogers

Apr 07, 2023 11:42

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Despite a recent retreat, the EUR/USD bulls maintain control around 1.0920. This reflects the typical Good Friday inactivity and apprehension ahead of the US Nonfarm Payrolls (NFP) report released early in the day. The major currency pair was volatile on Thursday as a result of the US Dollar's initial rebound on fears of a recession, but ended the day unchanged as disappointing US data contrasted with stronger Eurozone data.

 

Fears of a recession in the world's largest economy were prompted by consecutive lackluster US data and falling US Treasury bond yields, giving USD bears a reprieve on Thursday morning. As traders prepared for the all-important NFP, the dollar's subsequent gains were reversed by another disappointing US employment report.

 

Despite this, US Initial Jobless Claims for the week ending March 31 rose to 228K from 200K anticipated and an upwardly revised 246K the prior week. Notable is the increase in Challenger Job Cuts from 77,77K to 89,703K in the given month.

 

Notably, Reuters fanned fears of a recession by citing the most recent decline in the preferred bond market indicator of Federal Reserve (Fed) Chairman Jerome Powell. The most reliable bond market indicator of an imminent economic contraction, according to Federal Reserve research, is the "near-term forward spread" between the forward rate on Treasury bills 18 months from now and the current yield on three-month Treasury bills.

 

According to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated in prepared remarks on Thursday that the global economy is projected to expand by less than 3% in 2023, a decrease from 3.4% in 2022.

 

In other news, Germany's Industrial Production (IP) increased 0.6% year-over-year in February, versus market predictions of -2.7% and previous readings of -1.7%. Additionally, the monthly figures exceeded expectations by 0.1%, coming in at 2.0% compared to 3.7% previously. On Wednesday, Germany Factory Orders for February improved to -5.7% YoY from -12.0% previously revised down and -10.5% market expectations, while MoM growth came in at 4.8% compared to 0.3% expected and 0.5% previous readings.

 

Wall Street and US Treasury bond yields have both reduced weekly losses as a result of these strategies, but investors remain skeptical.

 

In the context of less liquidity surrounding the March US employment report, sporadic activity on the major markets can keep the EUR/USD inactive and prone to abrupt price swings. Notable is the fact that recent dovish Fed forecasts and disappointing US data generate expectations for a positive surprise and enormous price volatility thereafter.


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