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On June 10th, Xiaohongshu officially released its "Skill Upload Guidelines," clarifying the platforms stance. Xiaohongshu encourages: Skills with truthful and clear descriptions, practical value, and originality and innovation; Skills that accurately explain required permissions and uses, without requesting permissions beyond their functional scope; Transparent code logic, free of hidden behaviors or backdoors, ensuring users can achieve the expected results; Respect for others original work, and refraining from copying or plagiarizing others Skills. The platform will continuously improve its risk identification capabilities for Skills; Skills that violate regulations will be removed, and developers of serious violations will have their publishing privileges restricted.On June 10th, the Ministry of Commerce and eight other departments issued a notice entitled "Several Measures to Promote the Integrated Development of Railways and Tourism and Expand Service Consumption." The notice proposes strengthening fiscal and financial support. It calls for the coordinated use of relevant funding channels to support key areas such as the tourism-oriented transformation of railway stations and the construction of tourism service facilities. It encourages eligible localities to introduce subsidy and incentive policies for tourist trains, provided that relevant requirements for the standardized management of fiscal subsidies are implemented, to guide various types of social capital to participate in the development and operation of railway tourism products in accordance with laws and regulations. It also promotes the construction of pilot cities for new consumption formats, models, and scenarios, creating new scenarios for the integrated development of railways and tourism. Finally, it encourages financial institutions to provide financing support for the technological transformation and equipment upgrades of tourist trains in accordance with market-oriented and rule-of-law principles.On June 10th, the Ministry of Commerce and eight other departments issued a notice entitled "Several Measures to Promote the Integrated Development of Railways and Tourism and Expand Service Consumption." The notice calls for deepening the market-oriented operation of tourist trains and encouraging tourism enterprises to jointly design tourist train products with railway transport enterprises. It also encourages qualified regions to develop themed tourist trains with regional cultural characteristics, creating unique local tourism brands. Furthermore, it actively promotes the design and development of cross-border tourist train products between China and Laos, Kazakhstan, Vietnam, and Russia. Finally, it calls for researching and designing tourist train products suitable for inbound tourists to enhance the international competitiveness and influence of railway tourism products.On June 10th, the Ministry of Commerce and eight other departments issued a notice entitled "Several Measures to Promote the Integrated Development of Railways and Tourism and Expand Service Consumption." The notice encourages various types of social capital to participate in the investment of upgrading equipment and facilities on tourist trains, developing tourist trains that meet different needs for long-distance and short-distance travel, varying in quality, comfort, and affordability, and featuring different themes such as senior citizen travel, study tours, and health and wellness travel. It also encourages cross-brand collaborations between tourist trains and well-known IPs to create themed trains and carriages through market-oriented methods. By 2030, more than 160 dedicated railway tourist train sets will be built nationwide.June 10th Futures News: Copper prices maintained a weak range-bound adjustment today. On the macro front, US Treasury yields and the US dollar index continued to strengthen, supported by strong employment data and high inflation expectations. Market expectations for a Fed rate cut this year have largely subsided, with some even betting on a rate hike as early as September. This high-interest-rate environment is suppressing copper prices. On the fundamental front, domestic social inventories decreased slightly this week, and imported copper arrivals decreased, but downstream buyers remained hesitant due to high prices, resulting in weak purchasing. Supply-side disruptions were frequent. Chiles Antofagasta mine was partially shut down due to the earthquake, and supply disruptions from Peru and the Democratic Republic of Congo continued. The DRC also raised the tariff rate on strategic minerals such as lithium to 10%. In the short term, the US refined copper import tariff decision is imminent. Currently, the COMEX premium relative to LME is about 6%. If the tariff is implemented, it will accelerate copper inflows into the US and tighten overseas markets, providing support for prices. In summary, with both macro pressures and supply-side disruptions, copper prices are expected to remain volatile in the short term. Attention should be paid to tariff policies and changes in macroeconomic data. In the spot market, trading was relatively stable today. Copper prices are at low levels, prompting downstream buyers to purchase on dips. With delivery approaching and the import window closing, market supply appears to be tightening, leading to reluctance among holders to sell and further narrowing of the spot discount.

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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