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On August 14th, Guangzhous Haizhu District released "Eight Measures for Word Element Development." The policy extends from word element production efficiency, service aggregation, and distribution centers to application scenarios, OPC cultivation, industry upgrading, financial services, and overseas expansion, essentially covering the main stages of word element production—circulation—consumption—value-added. On the word element production side, large model companies are encouraged to improve word element production efficiency per unit chip through technological optimization. Eligible companies will receive support of up to 50% of their actual investment, with a maximum of 1.5 million yuan per company per year. On the industry platform side, companies are supported in developing heterogeneous computing power word element packaging, multimodal model aggregation access, and one-stop settlement services, with eligible companies receiving up to 4 million yuan in support. Support is also provided for building a word element access center that supports cross-model, cross-modal, and multi-heterogeneous platform access, with a maximum support of 4 million yuan.SanDisk (SNDK.O) rose 4.6% in pre-market trading in the U.S.Market news: The UK Parliaments Standard Inquiry into Reform Party leader Nigel Farage is now listed as "active" on the Parliament website, previously showing as "suspended".Applied Materials (AMAT.O) shares fell 5% in pre-market trading on the U.S. stock market.The UKs Office for Maritime Trade Operations reported that an oil tanker was attacked by a drone while transiting the Strait of Hormuz on Thursday. The ship sustained minor damage, the crew is safe and all have been confirmed, and no environmental impact has been reported.

Buyers in the USD/CAD currency pair are keeping an eye on the 1.3580s as a key support level

Alina Haynes

Mar 03, 2023 13:59

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The price of USD/CAD is steady as the week comes to an end in Asia; it is currently trading at around 1.3580, down from the day's highs of 1.3601.

 

As Unemployment Claims showed a strong US job market on Thursday, the US dollar gained. The yield on two-year Treasury notes, which is influenced by forecasts for interest rates, consequently rose to values last seen in July 2007. Futures moved marginally higher, with the market setting a maximum fed funds rate of 5.493% in September before it dipped to 5.447% later in the trading session.

 

The Federal Reserve is the center of attention, and Raphael Bostic, president of the Atlanta Fed, stated on Thursday that the central bank is prepared to keep raising rates if inflation does not moderate and that it is still considering how recent, higher-than-expected inflation data may affect Fed policy. The Fed should continue with "constant" quarter-point rate rises, even though the effects of higher rates on the economy might not "bite" in earnest until this spring.

 

The internal economy of Canada, meanwhile, experienced growth that was flat SAAR compared to the 1.6% anticipated and a revised 2.3% (was2.9%) in Q3, which was the lowest since Q2 2021. The yearly growth rate slowed to 2.3% from 2.8% in November as a result of the 0.1% month-over-month decline in GDP in December, compared to the 0.1% anticipated. The next meeting is scheduled for March 8, but according to WIRP, a final 25-bp rise to 4.75% is still factored in for Q3. The BoC has signaled a pause in its increasing cycle, and as a result, the Canadian currency is likely to keep finding it difficult to advance against the USD.


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