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The Indian rupee fell below 91.9650 against the US dollar, hitting a record low.On January 29th, Chinese researchers published a paper in the British journal *Nature*, announcing the successful development of a fully flexible artificial intelligence chip, providing key hardware support for intelligent applications such as wearable health monitoring devices and flexible robots. Researchers from Tsinghua University, Peking University, and other institutions successfully developed the FLEXI series of fully flexible digital in-memory computing chips based on domestically produced technology, breaking through the inherent bottleneck of applying flexible electronics to edge high-performance artificial intelligence computing. This chip, based on low-temperature polycrystalline silicon thin-film transistors, is as thin as a cicadas wing, can be bent at will, and possesses advantages such as ultra-low power consumption, high energy efficiency, high robustness, and low cost.According to Japans Jiji Press, a system malfunction has disrupted foreign exchange transactions at 140 credit unions across Japan.According to The Information: Nvidia (NVDA.O) is in talks to invest up to $30 billion in OpenAI.On January 29th, the overnight SHIBOR was 1.3680%, up 0.20 basis points; the 7-day SHIBOR was 1.5720%, up 4.50 basis points; the 14-day SHIBOR was 1.5910%, down 0.50 basis points; the 1-month SHIBOR was 1.5520%, down 0.26 basis points; and the 3-month SHIBOR was 1.5910%, down 0.37 basis points.

Despite caution, EUR/USD continues bids above 1.0250

Daniel Rogers

Aug 15, 2022 14:55

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After the US sent a delegation to Taiwan over the weekend, despite House Speaker Nancy Pelosi's contentious visit to the disputed island, which enraged Beijing, investors sought protection in government bonds and the dollar in the face of rising US-China threats.

 

Rates are also heavily influenced by the likelihood that the Fed will raise interest rates by 50 basis points (bps) in September as a result of easing US inflation pressures, with all eyes on the FOMC minutes due out on Wednesday for new information on the direction the world's most potent central bank will take its policy.

 

Despite a decline in rates and a sluggish demand for riskier assets in early Asian trades, the US dollar is holding up well. The US dollar index is trading at 105.61, unchanged from its previous close of 105.88 on Friday. Despite Wall Street's stellar performance, a substantial dollar increase was caused by stronger US Michigan Consumer Sentiment data and a dimming US inflation forecast.

 

As the European energy crisis gets worse, the gains in the common currency on the EUR side of the equation are likely to remain small. Germany is already suffering the most as a result of a decrease in Russian gas exports, which is wreaking havoc on the old continent. The Rhine's ebbing waters, which make transport along the river more challenging, could cause a recession in Germany.

 

By the end of the week, the reference level was predicted to drop below 40 centimeters in Kaub, a notorious shipping bottleneck where the Rhine flows shallow and narrow. One of the most significant goods shipped on the waterway is coal.

 

On both sides of the Atlantic, Monday's economic calendar features few noteworthy data releases. As a result, the main currency pair will continue to be influenced by the current market sentiment and dollar price action.

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