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On March 30, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice proposes exploring extraterritorial enforcement of anti-unfair competition laws. It calls for exploring and promoting the extraterritorial application of my countrys anti-unfair competition laws and regulations, resolutely cracking down on unfair competition practices such as false advertising, online unfair competition, commercial defamation, and infringement of trade secrets committed overseas that disrupt domestic market competition order and harm the legitimate rights and interests of domestic businesses or consumers, thereby safeguarding the security of my countrys industrial and supply chains and protecting the interests of my country and its enterprises. The notice also encourages actively exploring extraterritorial enforcement practices, accelerating the development of a specialized team of personnel for foreign-related law enforcement, and supporting qualified localities to conduct pilot programs.On March 30th, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice proposes establishing a multi-dimensional collaborative mechanism to address the issue of large enterprises and other operators defaulting on payments to small and medium-sized enterprises (SMEs). It emphasizes the need to comprehensively assess whether large enterprises and other operators hold a dominant position by considering factors such as the trading parties industry standing, trading habits, and impact on SMEs and the overall market order. Accurate identification of illegal behavior requires that the perpetrator be a large enterprise or other operator, that the behavior demonstrates a specific abuse of its dominant position, and that SMEs be forced to accept clearly unreasonable trading conditions, resulting in defaulted payments.On March 30th, the State Administration for Market Regulation issued a notice on further implementing the "Anti-Unfair Competition Law of the Peoples Republic of China." The notice emphasizes curbing typical unfair competition practices. Adapting to the requirements of high-quality development and the development of new productive forces, it calls for continued efforts to combat common and prevalent unfair competition practices such as counterfeiting, false advertising, infringement of trade secrets, and unfair sales promotions, thereby promoting a fair and competitive market environment. The notice also emphasizes correctly understanding the constituent elements of unauthorized use of others product names as search keywords, fraudulent transactions, and false reviews, and reasonably defining the legal responsibilities of those who aid and abet confusion and sellers of illegal goods, avoiding both overgeneralization of protection and condoning illegal activities.Irans deputy energy minister said that power has been restored to normal in Tehran and Alborz province.According to Al Arabiya satellite television: US officials say Trump is still studying how to open the Strait of Hormuz.

As risk aversion grows as measured by the DXY and as attention turns to the US NFP, USD/CHF goes closer to 0.9600

Alina Haynes

Aug 03, 2022 14:51

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In reaction to the dismal market environment, the US dollar index (DXY) has gained, and the USD/CHF pair is swiftly approaching the key level of 0.9600. After defending Monday's low around 0.9480, the pair had a greater reverse on Tuesday, as the risk-aversion theme strengthened the attraction of the DXY.

 

Following US House Speaker Nancy Pelosi's travel to Taiwan to support Taiwan's local government despite China's wishes, tensions between the US and China have increased. In reaction to the death threats made against Pelosi during her private travel to Taiwan, the US is anticipated to adopt sanctions against China, which encouraged the gloomy market sentiment.

 

In the meanwhile, the DXY has achieved a three-day high of 106.55, although the gain may wane ahead of Friday's US Nonfarm Payrolls (NFP) data. According to market expectations, the U.S. economy added 250,000 jobs to the labor force in July.

 

During a brief period, a number of significant IT companies in the United States abandoned the hiring process, resulting in payroll statistics that multiplied. If the same thing occurs, the Federal Reserve (Fed) will be compelled to speak less about policy rates.

 

On the Swiss franc front, investors anticipate the release of the Consumer Price Index (CPI) numbers. An early estimate of the annual inflation rate places it at 3.5%, little higher than the prior estimate of 3.4%. As a result, the Swiss National Bank (SNB) will be compelled to boost interest rates.


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