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July 22nd - Sources familiar with the matter have revealed that Alibabas upcoming "Qianwen Office" product is currently undergoing small-scale internal testing. Positioned independently of Tongyi Qianwen, this product focuses on intelligent collaboration in deep office scenarios. It is also understood that Alibaba has publicly recruited solution architects, business development experts, and AI product managers nationwide for its Qianwen Office product. Sources close to Alibaba indicate that the Qianwen Office product may be released soon.A spokesperson for the Iranian Interior Ministry said that Iran has not provided any new information.It is understood that the Bank of Japan is nearing the stage of stabilizing price expectations, rather than pushing up inflation.It is understood that the Bank of Japan is open to raising interest rates more frequently than once every six months.On July 22, the General Office of the Chengdu Municipal Peoples Government issued the "Chengdu Action Plan for Deepening the Implementation of Artificial Intelligence+". The Action Plan proposes to strengthen the research and development of general technologies, conduct research on core technologies such as integrated perception, driving decision-making, and precise vehicle control, and continuously address technological shortcomings. Focusing on the core components of intelligent connected systems, it prioritizes the development of key software and hardware products such as intelligent cockpits, operating systems, and in-vehicle terminals to solidify the support for industrial development. It also aims to leverage artificial intelligence technology to deeply integrate into the entire process of vehicle R&D and upgrading, promoting vehicle manufacturers to accelerate the R&D and mass production of L3 and above intelligent connected vehicles.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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