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On August 25th, Alibaba Cloud announced that its Cloud Sandbox Snapshot feature will officially launch commercial billing starting at 00:00 Beijing time on September 7th, 2026. Snapshot supports full-state snapshots (including memory and disk) of running sandboxes, enabling second-level recovery of the sandbox or cloning of multiple new sandboxes based on the snapshot. It is suitable for scenarios such as resuming interrupted Agent tasks running for extended periods, second-level cold starts for environment warm-up, and parallel cloning exploration.Siemens Energy shares rose about 2% after reports that the company had hired Goldman Sachs to pursue a potential sale of its steam turbine stake.August 25th - my country is the worlds largest producer and exporter of audio products, with over 80% of the worlds audio equipment originating from China. Wang Tianxing, Deputy Chief of the Product Supervision Section of Haicang Customs, under Xiamen Customs, stated, "From January to July this year, Fujian Province exported 20.47 million speaker and loudspeaker-related products, a year-on-year increase of 16.8%. Among them, Xiamen City exported 17.39 million speaker and loudspeaker-related products, a year-on-year increase of 30.5%." With the peak export season approaching, Chinese audio companies are seeking new growth points in the global market. Emerging markets such as South America, the Middle East, and Southeast Asia are becoming important drivers of exports. Data from Qichacha shows that as of August 25th, there are 1.9737 million existing audio-related companies in China. The number of registered audio-related companies has shown a significant upward trend over the past decade, with the total number of registrations expected to exceed 400,000 in 2025, a year-on-year increase of 22.36% to 435,300, setting a new high for registrations in the past ten years. As of now, 246,600 companies have been registered this year.On August 25th, according to the local governor, a fire broke out at the Afipsky oil refinery in southern Russia after a drone attack overnight. The governor of Krasnodar Krai stated that local emergency services are handling the fire at the facility, located near the Ukrainian border. Ukraines actions against Russian refineries this summer have caused Russias daily oil processing volume to fall to multi-year lows and exacerbated fuel supply pressures. Several regions are currently facing fuel shortages and rationing measures. To support the domestic market, Russia has implemented a temporary ban on the export of most diesel, gasoline, and aviation fuel. The Afipsky refinery, owned by the privately held ForteInvest, has a crude oil processing capacity of approximately 180,000 barrels per day.Frances INSEE consumer confidence index for August was 86, below the expected 87 and the previous reading of 86.

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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