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On September 17th, according to The Information, OpenAI, which was embroiled in controversy earlier this month after mathematicians accused it of trying to steal credit for solving a highly difficult mathematical problem, is now close to solving another challenging problem in the Millennium Prize Problem, according to a person familiar with the solution. The person stated that employees expect the next problem—the Hodge Conjecture—to be solved soon. However, the person added that the company may need more time to announce the solution as it is working with the mathematics community to ensure that the announcement does not trigger another public relations crisis. The report notes that while solving these problems is not cheap, some OpenAI researchers believe that mathematics is the next natural field for its models to explore after software engineering. These two fields share similar characteristics: both require step-by-step logical reasoning, and the resulting answers can often be automatically verified. Some researchers even believe that the wave of automation that has swept through software engineering over the past year will engulf mathematics within the next six to nine months. Furthermore, solving complex mathematical problems can also help AI developers advance the automation of machine learning research—a field that involves a great deal of mathematics.The main Shanghai silver futures contract rose 2.97% intraday, last quoted at 16,105 yuan/kg, with an increase of nearly 3,100 lots in open interest, and both trading volume and open interest activity increased.September 17 – The 10th China-Australia (Australia) Defence Working Meeting was held in Beijing on September 17. The two sides exchanged candid and in-depth views on military relations, maritime and air security, and international and regional issues of common concern, enhancing mutual understanding and trust.XPeng Motors (XPEV.N) rose 4% after Reuters reported that it plans to provide technology solutions to foreign automakers other than Volkswagen.On September 17th, when asked whether it was reasonable for the market to price in nearly four interest rate hikes within the next year, Bank of England Governor Bailey said on Thursday that the outlook was too unpredictable, adding that his officials had not yet discussed this. "Weve had a lot of discussions this time, but we havent discussed the prospect of four rate hikes," Bailey told the media after the Bank of England kept interest rates unchanged but warned of rising inflationary pressures. He added, "The market has to form its own judgment, but I must point out: the current situation... is simply too unpredictable." Bailey stated that the state of the UK gilt market—with the 30-year gilt yield hitting its highest level since 1998 this week—did not influence the banks announcement. Bailey said, "We planned this work long before the Middle East conflict, so this is not at all a reaction to market conditions."

European Open: FTSE Aims For a 5th Bullish Week, USD/CAD in Focus

Skylar Shaw

Apr 12, 2022 10:55

The ASX 200 index in Australia increased by 33.4 points (0.45 percent) to 7,476.20.


The Nikkei 225 index in Japan has gained 87.06 points (0.25 percent) and now trades at 34,583.57.


The Hang Seng index in Hong Kong has dropped -124.54 points (0.57%) and is now trading at 21,684.44.


The A50 Index in China has increased by 33.08 points (0.24 percent) to 13,884.16.


The FTSE 100 futures in the United Kingdom are now up 50 points (0.67 percent), with the cash market expected to start at 7,601.81.


Futures on the Euro STOXX 50 are now up 32 points (0.86 percent), with the cash market expected to start at 3,834.01.


The DAX futures in Germany are now up 96 points (0.68 percent), with the cash market expected to open at 14,174.


Futures in the United States: The DJI futures are now down -10 points (-0.03 percent )


Futures on the S&P 500 are now up 2 points (0.01 percent )


Futures for the Nasdaq 100 are now down -2 points (-0.04 percent )

Market Internals (FTSE)

On the weekly chart, if the FTSE closes around 7550 today, it will create a little bearish pinbar. It would also be the market's fifth straight positive week, and the first of the year. However, the FTSE hasn't had more than five positive weeks since May 2018, so the chances of a rebound next week are slim. Especially considering, as bulls lose speed, volatility into recent highs has been the lowest in the last five weeks.


08 April 2022, FTSE 350: 4230.52 (-0.45%).


16 stocks hit new 52-week highs, while 7 hit new lows.


89 (25.36 percent) equities rose, while 250 (71.23 percent) fell.


Outperformers:


Hochschild Mining PLC (HOCM.L) is up 13.77 percent, while BAE Systems PLC is up 5.16 percent (BAES.L)


Capricorn Energy PLC is up 4.72 percent (CNE.L)


Underperformers: Ferrexpo PLC (FXPO.L) -42.6 percent; Polymetal International PLC (POLYP.L) -37.8 percent; EVRAZ plc -30.4 percent (EVRE.L)

 

At 13:30 BST, the job situation in Canada will be discussed.


Employment in Canada is now at 5.5 percent, the lowest level since June 2019. Even yet, if it matches projections and falls to 5.4 percent, it would be the lowest it has been in at least 48 years.


Expectations for another big job gain are modest, with the consensus hovering around 80k, a long cry from the 336.6k it printed in February. Still, since that fears of nuclear war have (hopefully) diminished compared to a month ago, another solid report might tilt the scales back towards a BOC (Bank of Canada) rate rise this month.


Prior to the jobs report in Canada, the USD/CAD is hovering at resistance.


While currency and commodities market volatility remained minimal overnight, we observed a continuation of yesterday's developments. For the eighth day in a row, the dollar is higher (while the euro is down). In today's Asian Open report, we mentioned a probable bull flag on GBP/AUD, and a similar setup is emerging on GBP/CAD, albeit we'd need to see a break above the 1.6473 high to invalidate the bearish channel and confirm the flag.

 

The possibility for USD/CAD to mean reversion on the daily chart was highlighted on Tuesday, and it has not disappointed, climbing for two days in a row and hitting our top bullish objective. Prices are stabilizing at the highs on the four-hour chart, as the monthly pivot point, weekly R1, and 200-bar eMA offer resistance.


Given that markets are already pricing in a 50-bps raise from the Bank of Canada this month, a shockingly weak jobs data for Canada might see the pair break decisively higher (and may also provide the more volatile move). However, if the jobs data is greater than predicted, USD/CAD may retreat from its recent highs. As a result, the zone between 1.2580 and 1.2610 is crucial to monitor.


Regardless of today's conclusion, considering the recovery from 1.24 after its powerful bullish pinbar on Tuesday, we may see this one break higher in the future.