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On April 30th, it was announced that the 9th issue of Qiushi magazine, to be published on May 1st, 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 "Speech at the Seminar for Provincial and Ministerial-Level Leading Cadres on Studying and Implementing the Spirit of the Fourth Plenary Session of the 20th CPC Central Committee." The article points out that it is essential to solidly build a modern industrial system. The backbone of a modern industrial system is advanced manufacturing. It is necessary to maintain a reasonable proportion of manufacturing and vigorously develop advanced manufacturing. Modern infrastructure is an integral part of a modern industrial system. Attention should be paid to calculating input and output to improve the matching degree. Developing new types of productive forces is an inevitable requirement for building a modern industrial system. It is necessary to adhere to adapting to local conditions and promote the deep integration of scientific and technological innovation and industrial innovation based on reality.Switzerlands KOF Leading Economic Index for April was 97.9, below the expected 95.9 and the previous reading revised from 96.1 to 95.6.Spains first-quarter GDP annualized growth rate was 2.7%, in line with expectations and down from 2.70% previously.Spains first-quarter GDP growth rate was 0.6% quarter-on-quarter, below the expected 0.5% and the previous value of 0.80%.On April 30, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Belgian Deputy Prime Minister and Foreign Minister Jean-Michel Prévost in Beijing. Wang Yi stated that the current international situation is complex and volatile. Both China and Belgium are defenders and practitioners of multilateralism, supporters and beneficiaries of an open world economy, advocate for resolving disputes through dialogue and politics, and uphold international law. The two sides share broad common interests. China is willing to take the 55th anniversary of the establishment of diplomatic relations as an opportunity to work with Belgium to uphold mutual respect, seek common ground while reserving differences, strengthen dialogue and communication, enhance mutual understanding and trust, strengthen people-to-people exchanges, and explore the potential for pragmatic cooperation, thus elevating China-Belgium relations to a new level. Wang Yi noted that Belgium is the location of the EU headquarters and an important gateway for China-EU cooperation, and the significance of China-Belgium relations extends beyond the bilateral scope.

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

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The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.


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