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On April 11th, Baidu AI Cloud, in collaboration with embodied intelligence companies such as ZeroPower, LingSheng Technology, Fourier, Weite Technology, Topway Intelligence, Shutu Technology, and Songying Technology, launched the Baidu AI Cloud Embedded Intelligence Data Supermarket (Beta Version). This pioneering hierarchical and scalable data tagging system accelerates the large-scale deployment of embodied intelligence. Currently, Baidu AI Cloud provides services to over 30 embodied intelligence companies, including Zhiyuan and Unitree.April 11 - It was learned on the morning of the 11th local time that talks between Iran and the United States were "very likely" to begin that afternoon in Islamabad. According to information received by Iran, both delegations will first meet separately with the Prime Minister of Pakistan before the formal talks begin.April 11 – The US delegation participating in the US-Iran talks arrived in Pakistan on April 11 local time. Early on the morning of the 11th local time, Pakistani officials confirmed that the US-Iran talks would be held that day at the Serena Hotel in Islamabad, the capital of Pakistan, to seek a peaceful solution to the current Middle East crisis. The Iranian delegation, led by Speaker of the Iranian Islamic Parliament, Ghalibaf, has also arrived at the Serena Hotel.On April 11th, a Bank of America research report pointed out that a 10% oil price shock in the 1970s would have had a 90 basis point inflationary impact on the United States, while today that impact is approximately 25 basis points. Furthermore, the report noted that the drag on US growth from oil price shocks has also decreased from over 70 basis points in the past to about 5 basis points today. This may be attributed to the reduced US dependence on oil and the shale oil boom since the 2010s, which has made the US a net energy exporter.On April 11th, at the High-Level Forum on the Development of Intelligent Electric Vehicles (2026), NIO Chairman Li Bin stated that batteries and chips currently account for over 50% of the cost of intelligent electric vehicles, with very high costs associated with production capacity, verification, and production organization. This situation is due to two main reasons: First, the lack of standardized battery cell specifications restricts cost, efficiency, and market responsiveness. He suggested promoting battery cell standardization. Second, there are too many types of chips. Chips should be standardized, and relevant departments should organize automakers to unify chip types as soon as possible, developing interchangeable standards for each type. This would not only benefit the adoption of domestically produced chips in vehicles but also help reduce costs across the industry.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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