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On January 26, it was learned from a press conference held by the National Health Commission that in recent years, my country has actively promoted the use of traditional Chinese medicine (TCM) to improve the overall health of the population, carried out TCM health promotion actions, and provided TCM health services to key groups such as adolescents, women, and the elderly. Data from the press conference showed that my country has strengthened the construction of pediatric departments in TCM hospitals, achieving full coverage of pediatric departments in all tertiary public TCM hospitals nationwide, and conducting pilot projects for TCM intervention in myopia, obesity, and scoliosis in children and adolescents; promoted the establishment of prenatal and postnatal care clinics in secondary and above TCM hospitals; strengthened the construction of geriatric departments in TCM hospitals, and piloted 128 TCM health centers for the elderly in various provinces to improve the level of TCM health services for the elderly in different regions.On January 26, Wang Ya, head of the Department of Foreign Investment Administration of the Ministry of Commerce, stated at a press conference held by the State Council Information Office that in 2026, the regional layout of free trade zones will be steadily optimized and adjusted to provide broader space and richer platforms for pilot projects. The Ministry will further align with high-standard international trade and economic rules, conduct broader, deeper, and more robust institutional opening-up experiments, support free trade zones in carrying out integrated innovation across the entire industrial chain in key emerging industries, accelerate the comprehensive pilot demonstration work for expanding the opening-up of the service sector, implement the high-quality development work plan for national-level economic and technological development zones, and continuously release the dividends of institutional innovation.On January 26, Yang Mu, Director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, stated at a press conference held by the State Council Information Office that in 2026, efforts will be accelerated to cultivate and build international consumption center cities, promote the construction of an international consumption environment and pilot projects for new consumption formats, models, and scenarios, and create a number of new consumption scenarios with broad impact and high visibility, so that domestic and foreign consumers can enjoy a better life.On January 26, Wang Zhihua, Director-General of the Department of Foreign Trade of the Ministry of Commerce, stated at a press conference held by the State Council Information Office that China will unswervingly promote high-level opening-up this year and drive innovative and balanced development of trade. China is not only willing to be the worlds factory, but also the worlds market; its massive market will provide broader opportunities for products and services from all countries.According to RIA Novosti, the Kremlin positively assessed that constructive dialogue on the Ukraine issue has begun.

As the US labor market strengthens and China CPI is anticipated, AUD / USD Appears Vulnerable Near 0.6600

Alina Haynes

Mar 09, 2023 13:59

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The AUD / USD pair is displaying a back-and-forth pattern during the Asian session below the round-level resistance of 0.6600. The Australian asset appears vulnerable at the same time that the risk-aversion theme has been strengthened by intensifying fears of a U.S. recession and expectations of higher rates from the Federal Reserve (Fed).

 

S&P500 futures are displaying nominal losses following a fragile recovery move. It seems that the dead cat recovery move by the 500-US stocks basket is tapering away. The US Dollar Index (DXY) has turned sideways above 105.20 after a modest correction; however, the upside appears favored amid positive U.S. Employment data.

 

The robust addition of new jobs to the US labor market in February as a result of rising demand has validated Fed policymakers' concerns about persistent inflation. The United States Automatic Data Processing (ADP) reported an increase of 242K positions in February, exceeding both the expected increase of 200K and the previous release of 119K. As a result, Fed Chair Jerome Powell stated, "The Fed is prepared to announce more rates to reduce inflation."

 

The US Nonfarm Payrolls (NFP) data, which will be released on Friday, will provide investors with greater insight into the state of the US labor market. In addition, the dissemination of the Unemployment Rate and Average Hourly Wages will be crucial.

 

The Australian Dollar has been under intensified pressure following the Reserve Bank of Australia's (RBA) fifth consecutive 25 basis point (bps) rate hike and RBA Governor Philip Lowe's consideration of a policy-tightening suspension in response to a one-time blip in the monthly Consumer Price Index (CPI).

 

Investors are currently focused on China's Consumer Price Index (CPI) (February) data. It is anticipated that China's annual CPI will decrease to 1.9% from the previous release of 2.1%. The monthly CPI in China has been reduced to 0.2% from 0.8% previously. If inflation declines, the Chinese government and the People's Bank of China (PBOC) may be forced to infuse more liquidity into the economy.


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