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On April 11th, the High-Level Forum on the Development of Intelligent Electric Vehicles (2026) was held. Su Bo, Vice Chairman of the National Manufacturing Power Construction Strategy Advisory Committee and former Vice Minister of the Ministry of Industry and Information Technology, stated that the 15th Five-Year Plan period is crucial for my countrys transformation from a major automobile producer to a leading automobile power. New energy vehicles must shoulder the national mission of building a strong manufacturing nation, a strong science and technology nation, a strong transportation nation, and achieving the "dual-carbon" goals. By 2030, new energy vehicles will become the absolute mainstay of the automobile market, with a domestic penetration rate exceeding 70%. The goal of building a leading new energy vehicle nation is expected to be achieved ahead of schedule by the end of the 15th Five-Year Plan period.NASA: The four astronauts who were on the Artemis 2 mission safely exited the spacecraft.New Energy Vehicles: 1. China Association of Automobile Manufacturers (CAAM): Chinas new energy vehicle sales reached 1.252 million units in March, a year-on-year increase of 1.2%. 2. The Netherlands became the first EU country to approve Teslas Full Self-Driving (FSD) software for road use. Other: 1. TSMCs revenue in March was NT$415.19 billion, a year-on-year increase of 45.2%. 2. The Hong Kong Monetary Authority issued the first batch of stablecoin issuer licenses to Point Point Financial and HSBC. 3. The Internet Society of China issued an initiative: not to mandate "lowest price across the entire network" or enable "automatic price matching". 4. The Cyberspace Administration of China and five other departments jointly announced the "Interim Measures for the Administration of Humanized Interactive Services of Artificial Intelligence". 5. A number of important national standards were released, including those for brain-computer interfaces, intelligent connected vehicles, semiconductor devices, and Beidou chips. 6. Automated high-frequency ticket grabbing is strictly prohibited: Ctrip, Tongcheng, Qunar, Fliggy, Meituan, Zhixing, and High-Speed Rail Butler were summoned for talks. 7. The Change-7 probe has arrived at the Wenchang launch site, and my country will deeply integrate its existing resources and capabilities in the fields of manned lunar landing and unmanned lunar exploration. April 11 - According to the Yangpu Transportation and Port Authority, in the first quarter of 2026, Yangpu Ports container throughput reached 983,700 TEUs, nearly doubling (up 94.37% year-on-year); among them, the growth rate of foreign trade container throughput was particularly rapid, basically achieving a 2-fold increase (up 199% year-on-year), successfully achieving a "good start" for port production in the first quarter.April 11th - According to Dutch regulators, Full Self-Driving (FSD) has received regulatory approval in the Netherlands, marking the first time FSD has been approved in the European market. Tesla hopes other EU countries will follow suit. Widespread adoption of FSD is central to Teslas growth strategy. A significant portion of the companys current valuation of approximately $1 trillion depends on Elon Musks bet that AI-powered self-driving software and robotaxis will become the companys primary revenue streams in the future.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

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China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

 

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

 

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

 

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

 

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.