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August 11th - According to big data from TravelSkys official direct sales platform for civil aviation, as of August 11th, domestic flight ticket bookings for the Mid-Autumn Festival and National Day holidays (September 25th - October 7th) exceeded 1.71 million, a year-on-year increase of approximately 7%; while international flight ticket bookings exceeded 1.28 million, a year-on-year increase of approximately 11%.On August 11th, it was reported that since August, several small and medium-sized banks in Hubei, Guangdong, and other regions have successively raised deposit interest rates. Entering August, many city commercial banks, rural commercial banks, and village banks announced increases in their listed deposit rates or rates on special deposit products. Overall, the increases ranged from 10 to 33 basis points (BP). Against the backdrop of declining macro-market interest rates and the banking industrys continued efforts to reduce liability costs, the fact that most small and medium-sized banks have lowered deposit rates has drawn market attention. Industry insiders believe this move has a clear characteristic of attracting deposits in a short period, lacks universality, and is not directly related to the recent collective resumption of five-year large-denomination certificates of deposit by some large state-owned banks.On August 11th, it was reported that DeepSeek Harness has established an official WeChat account, "DeepSeek Harness Team," with the account registered under the name of Beijing DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. Public information shows that the latter is wholly owned by Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. In late June, Cui Tianyi, head of the DeepSeek Harness team, posted on social media that as a newly established department, the DeepSeek Harness team has ambitious goals and a heavy workload, and is currently facing a severe shortage of personnel. He stated, "Im interviewing people every day and posting recruitment ads on various platforms."Al Arabiya TV reported that Houthi rebels attacked a merchant ship with a ballistic missile in the Bab el-Mandeb Strait today, killing three foreigners.On August 11, Moldovan Deputy Prime Minister and Minister of Infrastructure and Regional Development Vladimir Boleya visited Ukraines Odessa region on August 10 to discuss optimizing railway connectivity and increasing the scale of transit transport with Ukrainian officials. According to British media reports, facing disruptions to Black Sea shipping, Ukraine is considering using the Moldova railway to export grain. On August 10, reports indicated that Ukraine hopes to transport grain to the Romanian port of Constanta via railways within Moldova. The two sides are currently negotiating the timing, volume, and freight costs of the grain shipments. Reports suggest that Ukraine is attempting to negotiate a 50% discount on standard freight rates; Moldova, on the other hand, is demanding guarantees from Ukraine regarding the volume of grain transit transport.

Crude Oil Price Forecast – Crude Oil Markets Continue to Pull Back

Daniel Rogers

Jul 01, 2022 11:07

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WTI Crude Oil Technical Analysis

The West Texas Intermediate Crude Oil market has declined dramatically during the trading session on Thursday to break down below the $107 level. At this point, it appears like the market is going to test the big trend line from previously, and so I think it’s probably only a matter of time until we see substantial movement one way or the other. If we do break down below the uptrend line, the next target will be the $100 mark. Breaking below that level then opens up the chance of entirely shifting the trend. It is worth mentioning that the rest of the commodities markets have suffered a blow to the face, therefore oil is the “last man standing.” 

Brent Crude Oil Technical Analysis

Brent markets definitely appear quite similar, since they are challenging the uptrend line beneath which is closer to the $107 level. If we break down below there, then the Brent market is expected to travel to be $100 level where it will start to tangle with the 200 Day EMA. Breaking down below that of course would be pretty bad as well, setting off what would officially be termed a “downtrend.”

 

On the other side, if any one of these markets rebounds off the uptrend line, then it appears like they are going to try to save themselves. That being said, the previous couple of days have seen a genuine shift in momentum, and it does imply that more problems is on the way. Consequently, I am not too enthusiastic about holding crude oil at the moment. The markets are simply way too risky.