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On August 9th, a support document titled "Using ChatGPT with Apple Smart on Mac" appeared on Apples official Mac Simplified Chinese user manual on August 8th. It explicitly mentioned that Apple Smart could work with Alibabas Qianwen model. However, this Chinese manual introducing Qianwen extensions has since been removed from Apples website. The relevant page in the Apple Mac user manual has now reverted to "Using ChatGPT with Apple Smart," whereas previously it displayed "Using Qianwen with Apple Smart."August 9th - Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, stated that the national CPI rose 0.5% year-on-year, maintaining a moderate increase. The year-on-year CPI increase was 0.5 percentage points lower than the previous month, mainly due to the slower increase in gasoline prices. Gasoline prices rose 1.0%, a decrease of 16.0 percentage points from the previous month, reducing its upward impact on the CPI by approximately 0.45 percentage points, thus driving the energy price increase down to 0.6%. Excluding energy, industrial consumer goods prices rose 1.5%, a decrease of 0.2 percentage points from the previous month, contributing approximately 0.37 percentage points to the year-on-year CPI increase. Among these, prices for gold jewelry, personal care products, and household appliances rose by 24.6%, 1.7%, and 0.2% respectively, all with slower increases, contributing a combined approximately 0.13 percentage points to the year-on-year CPI increase; while prices for computers, tablets, and mobile phones rose by 17.4%, 17.2%, and 8.5% respectively.August 9th - Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, stated that on a month-on-month basis, the national CPI decreased by 0.1%, a narrowing of 0.2 percentage points compared to the previous month. Fluctuations in international market prices led to a 10.7% decrease in domestic gasoline prices, a larger decline than the previous months 5.8 percentage points, contributing to a month-on-month decrease in CPI of approximately 0.35 percentage points. Artificial intelligence is driving the upgrading of consumer electronics products, increasing demand and prices for related products. Tablet computers, computers, and mobile phones saw price increases of 11.3%, 5.5%, and 1.0% respectively, contributing a combined 0.03 percentage point to the month-on-month CPI increase. In the services sector, increased summer travel demand led to price increases of 7.2%, 6.5%, 4.2%, and 3.6% for travel agency fees, hotel accommodations, airfares, and transportation rentals respectively, contributing a combined 0.10 percentage point to the month-on-month CPI increase.Chinas July CPI annual rate will be released in ten minutes.Chinas July CPI annual rate will be released in ten minutes.

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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