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On July 15th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.3590%, and the lowest was 0.7870%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0310%, and the lowest was 0.8410%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0680%, and the lowest was 0.9210%.On July 15th, a paper titled "Feasibility Study of Humanoid Robots for Surgical Procedures in Vivo," published online in the top international journal *Nature*, has attracted widespread attention. The research team brought Unitree Robotics G1 humanoid robot into the operating room, where human surgeons performed standard laparoscopic cholecystectomies on two live pigs via remote control. This study is considered the worlds first live surgery performed using a humanoid robot. The papers first author, Dr. Liang Zekai of the Department of Electrical and Computer Engineering at the University of California, San Diego, responded via email, stating that the research project was completed by an interdisciplinary team of engineers and surgeons. The Unitree G1 was chosen primarily because it was one of the most readily available commercial options at the time. The projects focus was on the humanoid robots humanoid appearance, rather than a specific platform. "It will take a considerable amount of time before humanoid robots can be truly applied to clinical practice with human patients," Liang Zekai said. He added that further improvements are needed in areas such as precision, sterilization, safety, regulatory approval, and large-scale validation before clinical deployment of humanoid robots.On Wednesday, July 15, the Hang Seng Index opened 210.61 points higher, or 0.87%, at 24,551.34; the Hang Seng Tech Index opened 36.72 points higher, or 0.78%, at 4,716.18; the H-share Index opened 49.81 points higher, or 0.61%, at 8,152.89; and the Red Chip Index opened 4.37 points higher, or 0.11%, at 3,939.77.The Peoples Bank of China (PBOC) announced today that it conducted 426.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 426.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.The National Bureau of Statistics will release its monthly report on residential sales prices in 70 large and medium-sized cities in ten minutes.

EUR/USD Expects Fourth Weekly Gains Above 1.0900 Despite The US Dollar's Rebound Advance Ahead Of US NFP

Daniel Rogers

Apr 07, 2023 11:42

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Despite a recent retreat, the EUR/USD bulls maintain control around 1.0920. This reflects the typical Good Friday inactivity and apprehension ahead of the US Nonfarm Payrolls (NFP) report released early in the day. The major currency pair was volatile on Thursday as a result of the US Dollar's initial rebound on fears of a recession, but ended the day unchanged as disappointing US data contrasted with stronger Eurozone data.

 

Fears of a recession in the world's largest economy were prompted by consecutive lackluster US data and falling US Treasury bond yields, giving USD bears a reprieve on Thursday morning. As traders prepared for the all-important NFP, the dollar's subsequent gains were reversed by another disappointing US employment report.

 

Despite this, US Initial Jobless Claims for the week ending March 31 rose to 228K from 200K anticipated and an upwardly revised 246K the prior week. Notable is the increase in Challenger Job Cuts from 77,77K to 89,703K in the given month.

 

Notably, Reuters fanned fears of a recession by citing the most recent decline in the preferred bond market indicator of Federal Reserve (Fed) Chairman Jerome Powell. The most reliable bond market indicator of an imminent economic contraction, according to Federal Reserve research, is the "near-term forward spread" between the forward rate on Treasury bills 18 months from now and the current yield on three-month Treasury bills.

 

According to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated in prepared remarks on Thursday that the global economy is projected to expand by less than 3% in 2023, a decrease from 3.4% in 2022.

 

In other news, Germany's Industrial Production (IP) increased 0.6% year-over-year in February, versus market predictions of -2.7% and previous readings of -1.7%. Additionally, the monthly figures exceeded expectations by 0.1%, coming in at 2.0% compared to 3.7% previously. On Wednesday, Germany Factory Orders for February improved to -5.7% YoY from -12.0% previously revised down and -10.5% market expectations, while MoM growth came in at 4.8% compared to 0.3% expected and 0.5% previous readings.

 

Wall Street and US Treasury bond yields have both reduced weekly losses as a result of these strategies, but investors remain skeptical.

 

In the context of less liquidity surrounding the March US employment report, sporadic activity on the major markets can keep the EUR/USD inactive and prone to abrupt price swings. Notable is the fact that recent dovish Fed forecasts and disappointing US data generate expectations for a positive surprise and enormous price volatility thereafter.


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