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On September 11, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to adhere to a rational and orderly approach, further improve computing infrastructure, actively promote the research and application of key technologies and equipment, and build a multi-layered networked computing system. It also stressed the importance of promoting the synergy between computing and power, and the integration of computing and networks. This includes strengthening the monitoring and scheduling of computing resources and the construction of backbone fiber optic networks, enhancing the planning and coordination of computing and power facilities, and accelerating the implementation of projects such as direct green electricity connections and power generation-grid-load-storage systems. Finally, the meeting called for support for enterprises in carrying out technological innovation, resource integration, and application promotion to better match supply and demand.German union representative: German workers should not be made to bear the cost of US tariff policies.On September 11, a spokesperson for the Ministry of Commerce stated that the US actions were an attempt to suppress and smear China. The US claim that China is a "dual threat" militarily and economically is a completely fabricated and malicious slander. Chinas technological breakthroughs in fields such as artificial intelligence, semiconductors, and biotechnology are the result of the hard work of Chinese researchers and enterprises, and are by no means prey for US intelligence agencies to covet. The USs actions are essentially driven by anxiety about Chinas technological progress, but espionage and hegemonic suppression cannot stop the innovative progress of Chinese enterprises, nor can they bring true technological leadership. The USs blatant espionage tactics are doomed to failure.According to CCTV: Li Qiang chaired an executive meeting of the State Council, which pointed out that it is necessary to focus on changes in the school-age population to rationally allocate educational resources and make overall arrangements for the supply of school places, teacher allocation, and funding.According to CCTV: Li Qiang chaired an executive meeting of the State Council, which pointed out that it is necessary to adhere to a combination of short-term and long-term measures, address both the symptoms and root causes, and implement differentiated policies to comprehensively improve the safety capabilities of old reservoirs.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

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The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


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