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February 10th - The overnight SHIBOR was 1.3620%, up 9.20 basis points; the 7-day SHIBOR was 1.5310%, up 2.60 basis points; the 14-day SHIBOR was 1.6040%, up 2.00 basis points; the 1-month SHIBOR was 1.5510%, up 0.10 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.On February 10th, nine departments, including the Shanghai Municipal Health Commission, issued the "Implementation Opinions on Further Strengthening the Construction and Operation of Community Health Service Institutions in Shanghai." The opinions propose expanding the coverage of contracted services. Family doctor contracted services will be extended to working and school-aged individuals in functional communities, steadily expanding the coverage of contracted services. Online and offline contracting channels will be streamlined, a flexible contracting mechanism of 2-3 years will be implemented, and annual confirmation of family doctor contracted services will be conducted. Residents will be guided to sign contracts as a family unit. The contracted coverage rate for the permanent resident population will increase by 1-3 percentage points annually, achieving the goal of a 60% contracted rate for the permanent resident population by 2030.February 10th - The Shanghai Municipal Government will hold the first press conference in a series on the theme of Shanghais "15th Five-Year Plan" on February 11th. The conference will invite relevant municipal leaders and officials from the Municipal Financial Services Office, the Municipal Development and Reform Commission, the Municipal Science and Technology Commission, the Municipal Housing and Urban-Rural Development Management Commission, and the Municipal Health Commission to attend, introduce the relevant content of the "Outline of Shanghais 15th Five-Year Plan for National Economic and Social Development," and answer questions from reporters.On February 10th, Bank of America Securities issued a report stating that Zijin Mining (02899.HK) has raised its production guidance for 2026-2028. Gold production is expected to reach 130-140 tons in 2028, up from the previous guidance of 100-110 tons; the CAGR (compound annual growth rate) between 2025 and 2028 is 13%-16%. Meanwhile, the company guides copper production to reach 1.5 million-1.6 million tons in 2028, representing a CAGR of 11%-14% between 2025 and 2028. The company has also raised its 2028 lithium production guidance to 270,000-320,000 tons, up from the previous 250,000-300,000 tons, representing a CAGR of 121%-134% between 2025 and 2028. The bank reiterated its view that Zijin Mining is its top pick and maintained its buy rating, with target prices of HK$50 for H-shares and RMB45 for A-shares. The bank believes that the company has strong long-term production growth, strict cost control, and reasonable valuation, in addition to its positive outlook on gold and copper prices.On February 10th, Alibaba DAMO Academy released RynnBrain, a basic model for embodied intelligence, and open-sourced seven full-series models, including 30BMoE.

GBP/USD Price research indicates a probable fall to 1.2100

Alina Haynes

Aug 03, 2022 14:56

 截屏2022-08-03 上午9.47.53.png

 

The GBP/USD pair has retraced close to 1.2140 after giving up the critical support level of 1.2180 on Tuesday. After failing to recapture monthly highs above 1.2293 on Tuesday, the cable saw a strong sell-off. Given that investors have backed the risk-aversion impulse as a result of escalating US-China tensions over Taiwan, it is anticipated that a corrective movement would increase.

 

On a four-hour time frame, the cable is bidding in a Rising Channel configuration that favors the north side overall but undergoes many nice corrections along the way up. The upper portion of the previously described chart pattern is derived from the July 13 high of 1.1968, while the lower portion is drawn from the July 14 low of 1.1760.

 

The asset has abandoned the 20-period Exponential Moving Average (EMA) at 1.2190, while the 50-period EMA at 1.2129 remains intact but is likely to be challenged sooner.

 

The Relative Strength Index (RSI) (14) has dropped into the 40.00–60.00 range, indicating that gold prices' bullish momentum has paused.

 

If there is a modest decrease toward 1.2150, market participants will be able to sell at a discount. The wire will be tugged in this direction, nearing the round-number support level at 1.2100. By breaking clearly below 1.2100, the dollar bulls will be extinguished, and the cable will continue to fall until it reaches a low of 1.2063 on July 29.

 

If the asset crosses over the 20-EMA at 1.2190, though, the cable may initiate a fresh bullish impulsive wave. If this occurs, the asset will increase to its high from July 29, which was 1.2246, before reaching its monthly high of 1.2294.