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August 28th - Due to the US relocating Patriot air defense interceptors from Europe to the Middle East to counter Iranian drone and missile attacks, US and NATO forces in Europe are facing a shortage of Patriot interceptors. On the 27th, US defense officials stated that US forces in Europe "absolutely" do not have enough Patriot interceptors to defend against a potential sustained ballistic missile attack, and their ability to defend against a single ballistic missile attack is also "very limited." NATO officials also revealed that both US and NATO forces in Europe are facing a shortage of Patriot interceptors.French agriculture ministry officials say the French agricultural aid package will include hundreds of millions of euros in compensation for weather-related losses.On August 28th, a senior EU official stated on the 27th that European intelligence agencies had detected no signs of Russia planning an attack on NATO member states in Europe. This came after reports from the US that CIA Director Ratcliffe had warned Russia against attacking NATO members. Both Russia and US President Trump denied these reports on the 27th. According to an anonymous EU official, "Overall, European intelligence agencies see no risk of a Russian attack on European countries, and this assessment remains unchanged." The official further clarified that this assessment also applies to NATO member states in Europe, and no Russian attack preparations have been detected.On August 28th, at the 2026 China International Big Data Industry Expo, the National Supercomputing Internet officially joined the National Integrated Computing Power Network Monitoring and Scheduling Experimental Verification Platform at the invitation of the Department of Digital Technology and Infrastructure Construction of the National Data Administration. Relying on the integrated development model of "computing, data, analog, and application," the Supercomputing Internet is undertaking tasks such as "construction of the computing power scheduling platform, operation and monitoring integration, service operation system and ecosystem construction, and technical standard formulation" in the pilot work of computing power monitoring and scheduling.On August 28th, UBTECH Robotics Corp. (09880.HK) announced that its revenue for the first half of 2026 was RMB 1.269 billion, a year-on-year increase of 104.2%; the company incurred a loss of RMB 339 million during the period, compared to a loss of RMB 440 million in the same period of 2025; the adjusted net loss for the period was RMB 339 million, compared to a loss of RMB 368 million in the same period of 2025. Revenue from full-size embodied intelligent humanoid robot products and solutions reached RMB 590 million, a year-on-year increase of 1445.0%.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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