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On August 29th, according to multiple foreign media reports, on August 28th local time, Chinese chipmaker Changxin Memory Technologies Co., Ltd. (CXMT) filed a lawsuit with the U.S. Department of Defense, demanding its removal from a blacklist. According to Bloomberg, CXMT stated that its chips are designed for civilian and commercial use, not military purposes, and claimed it was wrongly blacklisted. The lawsuit has been filed in the U.S. District Court for the District of Columbia, with U.S. Defense Secretary Peter Hegses listed as a defendant. In a statement released after filing the lawsuit, CXMT stated that the company is not a military enterprise and that its reputation and business interests have continued to suffer since it was first blacklisted in January 2025. The company added that this action was taken to protect its business interests. According to Reuters, the U.S. Department of Defense stated in a statement that, according to policy, the Department of Defense does not comment on pending or ongoing litigation.August 29th - The 2026 China International Big Data Industry Expo (Big Data Expo) is currently being held in Guiyang, Guizhou. Today, a representative from the National Data Administration stated at the "Data and Computing Integration Driving the Future" exchange event that the computing power network, water network, new power grid, next-generation communication network, urban underground pipe network, and logistics network form a deeply coupled, mutually empowering, and collaboratively supporting organic whole. It was explained that the computing power network, acting as the "brain," assists in the intelligent scheduling of new power grids and the consumption of new energy; collaborates with the next-generation communication network to promote data flow, model training, and application innovation; empowers water networks to achieve accurate forecasting of watershed water conditions and dynamic allocation of water resources; supports urban underground pipe networks to drive real-time monitoring, risk warning, and emergency response for lifeline projects such as gas, drainage, and heating; and connects with the logistics network to promote cost reduction and efficiency improvement across the entire supply chain. The latest data released at the conference shows that as of the end of July, the total scale of intelligent computing nationwide reached 2.45 million PFLOPS (FP16), and the eight national computing power hubs and three computing-electricity collaborative development zones have built intelligent computing scales, accounting for over 85% of the national total.August 29th – The 2026 China International Big Data Industry Expo is being held in Guiyang, Guizhou. Today, an official from the National Data Administration stated at the expo that the rapid application of big data models across various industries is driving a rapid increase in the volume of word token calls in my country, resulting in explosive market demand. Liu Liehong, Director of the National Data Administration, stated at a word token-themed exchange activity that the stronger the models comprehensive capabilities, the higher the efficiency of word token production, and the better the logic, accuracy, and quality of the output content. Word tokens provide an important benchmark for the measurement, pricing, transaction, and settlement of artificial intelligence services. Currently, the word token industry chain has gathered diverse entities such as computing power leasing companies, model manufacturers, data service providers, and professional technical service institutions, and different types of "word token factories" have evolved in practice.The Iranian government stated that it is committed to resolutely resisting US sanctions, and that diplomacy and defense are "complementary and inseparable."Nepals Finance Minister: Nepal needs $4 billion to $5 billion for disaster reconstruction.

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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