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On December 30th, the Ministry of Education held a press conference to introduce the progress and achievements of digital education during the 14th Five-Year Plan period. It was learned that the National Smart Education Platforms resource and service system has been continuously improved, with the recent addition of preschool education and postgraduate education modules, achieving full coverage of the platforms service recipients. Simultaneously, the National Big Data Center, serving as the national-level education "data foundation," and the National Platforms intelligent middleware platform, acting as the "smart brain," were officially launched today, enabling the sharing and integration of educational data and the intelligent upgrade of the national platform, propelling the basic digital education service capabilities into a new stage of intelligence.On December 30th, it was learned from the Ministry of Natural Resources that during the 14th Five-Year Plan period, my countrys surveying and mapping geographic information industry has accelerated its transformation and upgrading, with significant progress made in the construction of a real-scene 3D China and a nationwide network of satellite navigation and positioning reference stations. The Ministry of Natural Resources stated that during the 14th Five-Year Plan period, my countrys surveying and mapping geographic information industry has undergone continuous transformation and upgrading. Intelligent surveying and mapping technologies have made continuous innovation and breakthroughs, achieving independent support for natural resource satellite remote sensing imagery, and data is updated monthly and quarterly. Breakthrough progress has been made in the research and development of surveying and mapping equipment, with products such as UAV photogrammetry systems, BeiDou receivers, and high-precision total stations reaching international first-class levels. At the same time, a preliminary real-scene 3D China has been established, with 5-meter and 10-meter grids and other series of products covering the entire land territory, and 1:10,000 data covering 70% of the land territory.Hong Kong-listed stocks related to new consumption concepts retreated during the session, with Laopu Gold (06181.HK) and Pop Mart (09992.HK) both falling 5.5%, Bruker (00325.HK) falling over 4%, and Mao Geping (01318.HK), Weilong (09985.HK), Giant Biogene (02367.HK), Mixue Group (02097.HK), Gu Ming (01364.HK), and Chabaidao (02555.HK) all falling over 2%.On December 30th, the overnight SHIBOR was 1.2470%, down 0.10 basis points; the 7-day SHIBOR was 1.5890%, up 3.10 basis points; the 14-day SHIBOR was 1.8690%, up 21.90 basis points; the 1-month SHIBOR was 1.5850%, up 0.10 basis points; and the 3-month SHIBOR was 1.6000%, unchanged from the previous trading day.On December 30th, it was learned at the National Civil Affairs Work Conference that the Ministry of Civil Affairs, in conjunction with relevant departments, will establish a minimum living allowance standard filing system to prevent phenomena such as "raising standards while reducing the number of people" and "determining the number of people based on monetary compensation." An official from the Ministry of Civil Affairs stated that the next step will be to optimize and upgrade the dynamic monitoring information platform, improve the closed-loop operation mechanism for assistance and support, develop service-oriented social assistance according to local conditions, promptly identify people in need, and accurately implement assistance and support; consolidate and deepen the comprehensive governance of social assistance, and continue to address problems such as "omissions" and "incorrect coverage" to ensure fair and just implementation.

US Dollar Index reaffirms 20-year high on Ukraine-related news

Alina Haynes

Sep 26, 2022 14:32

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While risk aversion rises on Monday morning, the US Dollar Index (DXY) is still bullish over 113.80. It recently reclaimed the 20-year high above 114.70. In addition to bad attitude, Fed members' hawkish views also assist the US currency.

 

The head of the Federal Reserve, Jerome Powell, said, "We are committed to deploying our tools," on Friday. Fed Vice Chair Lael Brainard then added that low-income people are feeling the effects of "hard" inflation. Despite the economy's continuing speed, Atlanta Federal Reserve President Raphael Bostic told CBS' "Face the Nation" over the weekend that he still believes the central bank can cut inflation without substantial job losses.

 

Recent US S&P Global PMIs for August, issued on Friday, showed an increase in the Manufacturing index to 51.8 from 51.5, and an increase in the Services index to 49.0 from 44.6.

 

The president of Ukraine, Zelenskiy, was recently mentioned on a different page of a CBS article as saying, "Putin's nuclear threats may have been a bluff, but now it may be a reality." While Russia's foreign minister said annexing territory hosting widely criticized referendums would be met with complete protection from Moscow, the United States warned of "catastrophic ramifications" if Moscow utilized nuclear weapons in Ukraine.

 

Despite the Fed's hawkish attitude and rate increase, risk aversion gripped Wall Street, and rates helped the US currency stay higher. Although this occurs, S&P 500 Futures only fall by a few points as 10-year US Treasury yields climb by four basis points to 3.74 percent.

 

The US dollar index's future strength against major currencies may be aided by investors' reluctance to take on additional risk. Still, comments from Fed Chair Powell and US Durable Goods Orders are major triggers to keep an eye on for clues about the market's future course.

 

A daily close above 114.00, which coincides with a higher-trending resistance line from May, is needed for the DXY bulls to keep control. Dollar investors, however, should be wary of the indicator's current overbought reading of 14.