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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

As US Inflation Data Looms, the USD/CAD Tracks Oil's Failure To Move Above 1.3300

Alina Haynes

Feb 14, 2023 14:44

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The USD/CAD shows the market's caution as traders anticipate Tuesday morning's release of the US Consumer Price Index (CPI) for January. After a two-day decline, the Canadian dollar-U.S. dollar pair holds a position near 1.3330.

 

However, the most recent decrease may be a result of the US Dollar's inability to maintain its earlier weekly gains in the face of falling US Treasury bond yields. Nonetheless, the declining price of Oil, Canada's principal export, and the Federal Reserve's (Fed) hawkish pronouncements are enticing USD/CAD bulls.

 

Concerns about additional releases from U.S. strategic petroleum reserves have kept the price of WTI crude oil below $79,50 a barrel (SPR). According to Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Haitham Al Ghais, the price of black gold disregards earlier reports anticipating a supply constraint as a result of Russia's threat to reduce output and the anticipation of increasing energy demand.

 

Fed Governor Michelle Bowman reportedly told Reuters that the Federal Reserve will continue to raise interest rates until they reach a suitable level to return inflation to the target rate. President of the Federal Reserve Bank of Philadelphia, Patrick Harker, dismissed speculations of a 2023 Fed rate cut. Nonetheless, the official stated, "The Fed is unlikely to decrease interest rates this year, but could do so in 2024 if inflation begins to decline."

 

Notably, it appears that the recent decrease in US inflation expectations from a multi-day high has weighed on US Treasury bond yields and the US Dollar. The Federal Reserve Bank of St. Louis (FRED) 10-year and 5-year breakeven inflation rates decrease from monthly highs to 2.31 percent and 2.44 percent, respectively.

 

As Wall Street closes in the green, S&P 500 Futures follow the sentiment with slight gains, which weigh on the US Dollar. As a result, 10-year US Treasury note yields decline by around two basis points to 3.69 percent at the latest.

 

Since recent Federal Reserve (Fed) pronouncements indicating potential rate hikes appear muted, USD/CAD traders should keep a close eye on the US CPI data in the near future. In addition, discussions regarding the Fed's policy shift are approaching, so any negative US inflation data will not hesitate to send the Loonie pair down. Likewise, monitoring the price of oil is vital.

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