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On April 25th, it was reported that on April 24th, 2026, the Peoples Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) held a system-wide warning education meeting and a meeting to promote the study and education on establishing and practicing a correct view of performance. Pan Gongsheng, Secretary of the Party Committee and Governor of the PBOC, delivered a speech and a Party lecture. Pan Gongsheng pointed out that it is necessary to promote the high-quality development of the central banks work. Based on the responsibilities of the PBOC, it is crucial to deeply analyze the performance-related issues behind economic and financial problems, strictly and practically implement the rectification measures following central inspections and audits, continuously address the "involutionary" competition among financial institutions, effectively coordinate the "five major tasks" in the financial sector, actively and steadily promote the resolution of local government financing platform debt and risks of small and medium-sized financial institutions, maintain a high-pressure crackdown on illegal financial activities in related fields, and continuously optimize the central banks management and services for county-level finance.On April 25th, in preparation for King Charles IIIs visit to the United States, the British flag was flown in Washington, D.C., but some residents noticed that many Australian flags were also displayed. A Washington, D.C. official stated that after discovering the error, they quickly replaced the incorrectly displayed Australian flags with British flags, but the cause of the error is still under investigation. A Buckingham Palace spokesperson announced on April 14th that King Charles III would begin a four-day visit to the United States on April 27th.On April 25th, the National Medical Products Administration (NMPA) released its 2026 plan for establishing cosmetic standards, proposing to formulate or revise 27 standards covering raw materials for hair dyes, cosmetic raw materials, and general technical requirements and testing methods for toothpaste, providing more precise technical support for cosmetic regulation in my country. According to the NMPAs Cosmetics Supervision Department, new cosmetic raw materials must be registered or filed before they can be used in my country.Li Auto (LI.O) executives: Europe and Southeast Asia are seen as the companys next export markets.The China Earthquake Networks Center officially reported that a magnitude 3.1 earthquake occurred at 10:19 a.m. on April 25 in Shawan City, Tacheng Prefecture, Xinjiang (43.52 degrees north latitude, 84.93 degrees east longitude), with a focal depth of 16 kilometers.

Copper prices tumble after encountering resistance near $3.60; DXY completes correction

Alina Haynes

Aug 30, 2022 11:49

 截屏2022-06-16 下午3.13.52_1024x576.png

 

Copper prices are falling sharply after detecting selling pressure near the crucial $3.625 barrier during the Asian session. The asset's pullback move after hitting a low of $3.5715 on Monday is losing momentum, and the end of the pullback move indicates a new leg of selling is imminent.

 

The basic metal is anticipated to continue under the control of bears in light of bearish market mood. The US dollar index (DXY) is poised for a fresh upward surge as investors have begun buying the DXY in response to Federal Reserve (Fed) chair Jerome Powell's hawkish remarks on interest rate guidance at the Jackson Hole Economic Symposium.

 

After the Federal Reserve (Fed) favored inflation fix above lower growth estimates, the risk-off market sentiment has supported the DXY. The DXY is anticipated to surpass its 20-year high of 109.29, set on July 14.

 

Taking into account the essential core concepts, the decision to address inflation turmoil before optimism looks mature. The US inflation rate is soaring, and a single indication of tiredness is insufficient to allow Fed policymakers to lay back and relax.

 

On the China front, the recurrence of Covid-19 cases has heightened fears of an economic slowdown in China. The news from Reuters that China recorded 1,344 new asymptomatic coronavirus cases on the mainland on August 28, up from 1,137 the previous day, has sparked worries of a lockdown to restrict the disease's spread. Copper prices may be weighed down by a forecast of weak demand.