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On July 20th, Tao Qing, spokesperson for the Ministry of Industry and Information Technology and Director of the Bureau of Operation Monitoring and Coordination, stated that the Ministry will accelerate the implementation of the "15th Five-Year Plan for the Development of the Pharmaceutical Industry," focusing its efforts on building "innovative medicine," "digital medicine," "inclusive medicine," and "open medicine," accelerating progress in the new field of biomedicine. The Ministry will continue to strengthen research on original technologies and key core technologies, leveraging artificial intelligence to comprehensively empower industrial development. It will also strengthen drug security for key groups such as the elderly, children, and patients with rare diseases, striving to ensure that every patient can access, afford, and effectively use medications, allowing more high-quality and innovative drugs made in China to benefit patients worldwide more quickly.On July 20th, Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology, stated that the next step is to comprehensively ensure stable industrial operation, strengthen technological breakthroughs, and promote the application of equipment, fully driving the transformation and upgrading of the equipment manufacturing industry. First, promote steady growth in the industry. Closely adhere to the "15th Five-Year Plan" national outline, implement various overall plans, and effectively publicize and implement the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." Continue to implement a new round of work plans for stabilizing growth in industries such as machinery, automobiles, and power equipment, comprehensively expanding high-quality supply and effective demand. Second, accelerate breakthroughs in key core technologies. Coordinate the reconstruction of the industrial base and major technological equipment breakthrough projects, strengthen strengths, address weaknesses, and enhance the foundation, achieving breakthroughs in a number of landmark products and continuously improving the resilience and security level of key industrial and supply chains. Third, accelerate the promotion and application of domestically produced equipment. Deepen the supply and demand matching in industries such as industrial machine tools, intelligent robots, and medical equipment, and accelerate the promotion and application of the first (set) of major technological equipment. Conduct activities to promote new energy vehicles in rural areas, continue to carry out pilot projects for the application, access, and road access of intelligent connected vehicles "vehicle-road-cloud integration," and activate the consumption potential of the bulk commodity market.Fitch warned that Thailands weak economy could pose a challenge to its large banks.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.2 occurred near Shizong County, Qujing City, Yunnan Province at 10:27 AM on July 20th. The final result is subject to the official rapid report.On July 20, Tao Qing, spokesperson for the Ministry of Industry and Information Technology and director of the Bureau of Operation Monitoring and Coordination, stated at a press conference held by the State Council Information Office that 38 innovative drugs were approved for marketing in the first half of this year, of which 31 were domestically produced, accounting for over 80%. The licensing of innovative drug technologies to foreign entities reached a new high, with total transactions exceeding US$100 billion in the first half of the year.

NZD/USD Price Analysis: Protects NZ Inflation-Induced Support Break; 0.6140 in Sight

Daniel Rogers

Apr 20, 2023 13:51

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During the mid-Asian session on Thursday, NZD/USD bears maintain control at the lowest levels in five weeks while defending New Zealand (NZ) losses caused by inflation near 0.6160. This justifies not only the weaker-than-anticipated New Zealand inflation, but also the recent break of one-month-old horizontal support, which is now immediate resistance, as well as the bearish MACD signals.

 

As measured by the Consumer Price Index (CPI), the Reserve Bank of New Zealand (RBNZ) policy purists were unpleasantly surprised by New Zealand's (NZ) first-quarter (Q1) inflation. Despite this, the Quarter-over-Quarter change in the New Zealand Consumer Price Index (CPI) decreases from 1.7% and 1.4%, respectively, to 1.2%.

 

Following the publication of disappointing data, the NZD/USD pair breached a one-month-old horizontal support level, which is now acting as a barrier near 0.6170. The bearish MACD signals are now directing NZD/USD traders toward a horizontal support level that has been in place for 1.5 months and is located near 0.6140.

 

If the NZD/USD bears remain dominant above 0.6140, the 2023 low of 0.6085 cannot be ruled out.

 

The 200-day simple moving average hurdle of 0.6220 becomes crucial for NZD/USD investors to return.

 

If the NZD/USD pair remains above 0.6220, a run up to the previous weekly high around 0.6315 and then to the monthly high of 0.6386 cannot be ruled out.