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February 2nd - Cao Cao Mobility announced that its Robotaxi 2.0 fleet has been equipped with SpaceTime Satellite IoT communication technology and terminal products, and will subsequently launch an SOS function based on low-Earth orbit satellite networks. This move will improve the "space-ground integrated" safety assurance system and enhance the safety and reliability of autonomous driving mobility services.Indonesian mining-related stocks fell, with Merdeka Copper Gold shares down 14% and Vale shares down 10%.Hong Kong-listed chip stocks continued their decline, with Hua Hong Semiconductor (01347.HK) falling over 10%, GigaDevice (03986.HK) falling over 7%, Shanghai Fudan (01385.HK) falling over 5%, and Innoscience (02577.HK), Biren Technology (06082.HK), ZTE (00763.HK), SMIC (00981.HK) and other stocks following suit.On February 2nd, it was reported that on November 3rd, 2025, the Shenzhen Intermediate Peoples Court of Guangdong Province sentenced five members of the Bai family criminal gang—Bai Suocheng, Bai Yingcang, Yang Liqiang, Hu Xiaojiang, and Chen Guangyi—to death for crimes including intentional homicide, intentional injury, fraud, drug trafficking, drug manufacturing, kidnapping, and operating a casino, along with corresponding supplementary penalties. Following the first-instance verdict, Bai Suocheng died of illness, and the other defendants appealed. After a hearing, the Guangdong Provincial Higher Peoples Court ruled on December 24th, 2025, to reject the appeals and uphold the original verdict, submitting it to the Supreme Peoples Court for review in accordance with the law.On February 2nd, Guotou Silver LOF resumed trading and hit the daily limit down, with the premium narrowing to 43.8%. Previously, the Shenzhen Stock Exchange stated that some investors had engaged in abnormal trading behavior that affected the normal trading order of funds such as "Guotou Silver LOF," and self-regulatory measures such as suspending trading were taken against the relevant investors. This morning, several precious metal-themed LOFs weakened, with gold-themed LOFs and gold LOFs both falling by more than 7%, and Harvest Gold LOF falling by more than 6%.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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