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On September 20th, the Ministry of Culture and Tourism issued the "15th Five-Year Plan for the Construction of the Public Cultural Service System." The plan proposes that by 2030, the level of balanced development of public cultural services will be continuously improved, the integrated construction of urban and rural public cultural service systems will be fully promoted, and the regional collaborative development mechanism will be more sound. The supply mechanism of public cultural services will be further improved, and an open, diversified, and collaborative supply pattern will be basically formed. The digitalization of public culture will reach a new level, and digital resources will be richer. Significant progress will be made in the reform of the public cultural service system and mechanism, and the vitality of innovation and creativity in public culture will be significantly enhanced. The plan comprehensively deploys five key tasks: promoting the quality and efficiency of public cultural services through reform, continuously promoting the construction of modern public libraries, promoting the prosperity and development of mass culture, promoting the balanced development of public cultural services, and improving the digitalization level of public cultural services. At the same time, it lists 18 key projects based on actual conditions to ensure that the direction is clear, the long-term goals are well-defined, and the implementation is grounded in reality.On September 20, two attacks occurred in the West Bank, resulting in the death of one Israeli and one Palestinian by Israeli forces. The Israel Defense Forces (IDF) issued a statement saying that a Palestinian man attempted to ram Israeli soldiers with his car in the Ghanim area near Jenin in the northern West Bank and was shot dead by Israeli forces. Separately, according to the IDF and Israeli emergency services, a shooting occurred near the Nevechuff settlement northwest of Ramallah. A gunman opened fire from a car on Israelis near a spring, seriously injuring one Israeli man before fleeing the scene. Israeli media, citing medical personnel, reported that the seriously injured man had died.On September 20th, the Party Leadership Group of the Ministry of Agriculture and Rural Affairs held a meeting. The meeting emphasized that cultivating and strengthening the agricultural machinery equipment industry is a key support for agricultural modernization. It stressed adhering to the development direction of intelligence, greening, and integration, focusing on addressing prominent shortcomings such as high-end intelligent machinery and machinery suitable for hilly and mountainous areas. The meeting called for concentrating superior resources and efforts to overcome key challenges in a number of landmark complete machines and key common technologies, accelerating pilot-scale testing and mature application, so that more areas of agricultural production can have "organic produce available and good machinery available." The meeting also emphasized vigorously promoting "artificial intelligence + agriculture," expanding application scenarios for drones, the Internet of Things, and other technologies, so that new productive forces can better empower the development of modern agriculture.On September 20th, US President Trump stated on social media: "At the strong request of the US military and for national security purposes, I have agreed to transform the magnificent Arc de Triomphe—planned for many years since the Civil War—located in Reception Plaza next to the Arlington Memorial Bridge, into a top-tier military complex/Arch de Triomphe—capable of housing, storing, and rapidly deploying large numbers of drones, while also deploying snipers on the rooftops and plaza area, and additionally storing and maintaining a large quantity of sniper ammunition. There is no similar facility anywhere else in the world. Of the 59 top cities and capitals in the world, Washington, D.C., is the only city without an Arc de Triomphe, but now it will have one, and it will be the greatest ever!"Market news: Israeli Prime Minister Netanyahu has ordered increased military presence in the West Bank, including a blockade, arrests, and the demolition of the residences of those who carried out the attacks.

As Eurozone Core Inflation Appears Persistent, EUR/JPY Price Analysis: Aims To Climb Above 141.00

Daniel Rogers

Mar 27, 2023 14:41

 EUR:JPY.png

 

During the Tokyo session, the EUR/JPY pair is meeting resistance close to 141.00. As the European Central Bank (ECB) prepares for additional rate hikes in the near future, the cross is struggling to extend its recovery above the aforementioned resistance. However, the upside seems probable.

 

Isabel Schnabel, a member of the ECB's Executive Board, stated that nominal inflation has begun to fall while fundamental inflation persists. To achieve the intended level of inflation, the ECB would require immense fortitude; consequently, additional rate hikes cannot be ruled out.

 

The significance of Bank of Japan (BoJ) Governor Kazuo Ueda's speech on Tuesday will be significant for the Japanese Yen. This will shed light on the likely path of monetary policy action.

 

The EUR/JPY currency pair has rebounded firmly from the horizontal support formed by the Bearish Megaphone pattern on the two-hour time frame. The horizontal support of the chart pattern is the March 16 low of 139.13, while the upward trendline is drawn at 141.58. After the breakdown of critical support, a bearish megaphone pattern is usually accompanied by extreme vulnerability.

 

The 50-period Exponential Moving Average (EMA) at 141.00 represents a point of resistance for Eurozone investors.

 

The Relative Strength Index (14) has shifted from the bearish range of 20.00-40.00 to the bullish range of 40.00-60.00, indicating a temporary reversal.

 

Should the asset surpass the March 21 peak of 142.79, Euro bulls would drive the cross toward the March 9 low around 144.00 and then the March 15 peak of 145.00.

 

In contrast, a break below the low of 139.13 on March 16 would send the cross toward the low of 138.00 on January 19. A decline below this level would expose the asset to a 26 September 2022 low of approximately 137.36.


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