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August 18th - The Indonesian National Disaster Management Agency (BNPB) reported on the 18th that the death toll from the recent strong earthquake and numerous aftershocks in Indonesia has risen to 70, with 132 injured. No missing persons have been reported. Bramantillo, the operations director of the Indonesian National Search and Rescue Agency, said that 40 of the injured are in serious condition, while the remaining 92 sustained minor injuries. As no new missing persons reports have been received, search and rescue personnel are assisting the BNPB in disaster recovery efforts. Data from the Indonesian Meteorology, Climatology and Geophysics Agency (BMKG) shows that as of 3 PM on the 18th, 2,357 aftershocks have occurred in the Flores region, the epicenter of the strong earthquake. The strongest aftershock was magnitude 6.2, 24 aftershocks exceeded magnitude 5.0, and 72 aftershocks were felt.Ukrainian lawmakers: Ukrainian President Zelensky has submitted Yevgeny Khmara as a candidate for the position of Minister of Defense.On August 18th, Robin Li stated during Baidus earnings call that Kunlun Chip maintained strong momentum in the second quarter, continuing its expansion into multiple industries amidst robust demand. Market recognition of Kunlun Chips stability, efficiency, and adaptability in large-scale applications is steadily increasing. Kunlun Chips inference throughput and overall computing efficiency have further improved, enhancing its ability to support diverse and demanding AI workloads at scale. Currently, Kunlun Chip has completed the R&D and commercialization of three generations of AI chips and will continue to advance its product portfolio, including the latest M100 optimized for large-scale inference and the upcoming M300.On August 18th, Baidu (09888.HK) CFO He Haijian revealed during Baidus earnings call that Baidu plans to hold an extraordinary general meeting of shareholders on August 26th to seek shareholder approval on several related matters, and expects the main board conversion to take effect within this year. During the call, Baidu stated that it is preparing for inclusion in the Southbound Stock Connect program after the conversion and hopes to be included as soon as possible after the conversion is completed. In July, Baidus board of directors approved the conversion of its Hong Kong listing status from a secondary listing to a dual primary listing and submitted an application to the Hong Kong Stock Exchange, which has since confirmed the change.On August 18, Al Jazeera reported that Iranian Foreign Minister Araqchi stated that the US goal in this war is to force Iran to surrender, but "we will not surrender." He said, "The US is now begging to negotiate with us on our terms." He stated that the memorandum of understanding signed with the US contains "13 clauses favorable to us and 1 clause favorable to them," and accused Israel of doing everything possible to undermine and prevent the implementation of the agreement. He stated, "We won the war, we won a diplomatic victory, and we forced our enemy to accept our terms." He added that Irans military and battlefield capabilities provided strength for its diplomatic efforts in the negotiations.

Price of USD/CHF Nearing New Three-Year High Above 1.0070

Daniel Rogers

Oct 21, 2022 15:09

截屏2022-10-21 上午10.08.56.png 

 

During the Tokyo session, the USD/CHF pair surpassed its immediate barrier at 1.0050 and is set to attempt a three-year high reached on October 13 at 1.0074. The negative market sentiment brought on by late selling in the S&P 500 and rising rates has bolstered the dollar bulls.

 

The 10-year US Treasury yields reached 4.23 percent as a result of a surge in wagers on an anticipated rate hike announcement by the Federal Reserve (Fed). At the time of publication, the US dollar index (DXY) had surpassed the key 113.00 mark.

 

Daily, the asset is trading in a narrow range between 1.0048 and 1.0074 in the direction of the supply zone. The 20-period and 50-period Exponential Moving Averages (EMAs) are vertically aligned to the north, which confirms the upward filters.

 

Similarly, the Relative Strength Index (14) anticipates a move towards the bullish zone between 60.00 and 80.00. A similar scenario will further strengthen the greenback bulls.

 

If the asset surpasses its peak of 1.0074 on October 13, it will reach a fresh three-year high. The predominant trend is toward the round-number resistance level of 1.0100, followed by the 15 April 2019 peak of 1.0160.

 

Alternatively, the bulls of the Swiss franc may regain control if the asset breaches the September 29 low of 0.9742. This would result in the pair reaching a high of 0.9695 on September 19 and a low of 0.9620 on September 22.