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According to Sky News: Yemeni sources say Yemeni air defense forces responded to a Houthi drone attack over Mocha, Hodeidah province.According to Fox News, Harvard has made a significant investment of up to $2.2 billion in SpaceX (SPCX.O).On August 16th, Iranian Foreign Ministry spokesman Bagaei stated on the 15th that the current situation in the Strait of Hormuz is a direct result of the "illegal actions" of the United States and Israel. Recently, the US and Iran have engaged in fierce exchanges over the Strait of Hormuz, with both sides making frequent statements and refusing to compromise. Analysts point out that the continued standoff and irreconcilable differences may lead to a cyclical situation, making full navigation through the Strait of Hormuz unlikely in the short term. Analysts believe that the current standoff between the US and Iran over the Strait of Hormuz makes significant concessions from either side unlikely in the short term. Unless the US decides to launch a new large-scale military strike against Iran, the ongoing stalemate will not change significantly, and Trumps ambition to "defeat Iran" and "incorporate the Strait of Hormuz into US territory" will remain mere rhetoric.On August 16th, it was reported that the Houthi rebels in Yemen have launched a series of large-scale missile and drone attacks on the important port of Mocha. On the 15th, the port administration announced that the attacks had caused severe damage to port infrastructure, and all port operations had ceased. Mocha is one of Yemens most important ports, strategically located only 65 kilometers from the Bab el-Mandeb Strait and 6 kilometers from international shipping lanes connecting the Indian Ocean, the Arabian Sea, the Red Sea, and the Suez Canal. According to port officials, between August 9th and 14th, Mocha was attacked by 40 ballistic missiles and 46 drones. In addition, ships carrying explosives also launched attacks on the port from the water.On August 16th, it was reported that the Fujian Provincial Government recently issued the "Fujian Province 15th Five-Year Plan for Emerging Industries and Future Industries Development," outlining the promotion of nine future industries. Among these initiatives is the promotion of AI+ application demonstrations, the in-depth implementation of the "Artificial Intelligence+" leading demonstration action, the acceleration of Fujians artificial intelligence industry development, and the deep integration of AI with various fields such as industry, healthcare, education, and human resources. Support will be provided for the application and innovation of AI technology across the entire process, from R&D and design to pilot testing, manufacturing, marketing, and operational management. The plan also includes improving AI infrastructure construction, accelerating the construction of a province-wide integrated computing network, promoting the construction of public intelligent computing centers in Fuzhou, Xiamen, and Zhangzhou, and rationally allocating edge computing nodes; strengthening and expanding artificial intelligence pilot-scale bases, and collaborating with national strategic scientific and technological forces to create the AI for Science platform; and implementing the "Data Element ×" action, building high-quality datasets that meet AI-Ready requirements in key areas such as government affairs, healthcare, and marine sectors, promoting the construction of provincial data annotation bases, and building a data resource development service system. To foster an AI development ecosystem, we will build high-quality provincial-level AI industrial parks and AI industrial clusters in Fuzhou, Xiamen, and Quanzhou, and cultivate "AI+" enterprises in a tiered manner; support the joint construction of innovation platforms to tackle key technologies such as intelligent chips and core algorithms; support AI-native entrepreneurship and promote AI-native organizational innovation; and encourage various regions to explore the construction of low-cost, open OPC1 innovation communities to provide services such as prototype development for vertical fields.

Following The Upbeat Australian Employment Number, AUD / NZD Rises Above1.0750

Daniel Rogers

Mar 16, 2023 14:01

AUD:NZD.png 

 

The AUD / NZD exchange rate has increased by approximately 0.50% following the release of Australia's Employment Change data for the month of February. Employment Change came in at 64.6K, compared to 48.5K anticipated and -11.5K in the prior period. The unemployment rate has decreased from 3.7% to 3.5%. Full-time employment increased significantly from -43.3K to 74.9K.

 

After two negative readings in December and January, the positive employment data will likely encourage the Reserve Bank of Australia (RBA) to implement an additional 25 basis point (bps) rate hike at their next meeting, despite indicating a pause thereafter.

 

The Gross Domestic Product (GDP) data for the fourth quarter of 2022 in New Zealand were worse than expected, with the quarterly reading at -0.6% compared to -0.2% from the previous 2% and the annual reading at 2.2% compared to 3.3% from the previous 6.4%.

 

The economic contraction was caused by stagnant consumption, a decline in real national total disposable income, and a lack of investment in the industrial sectors. The economic impact of Cyclone Gabrielle is excluded from this figure, which represents the fourth quarter of 2022.

 

The Reserve Bank of New Zealand (RBNZ) may reconsider its hawkish stance at its April 5 meeting in light of this growth data. Despite the fact that many market analysts anticipate a 25 basis point rate hike from the RBNZ in April, the upside bias for AUD / NZD remains intact as economic data for both economies continues to diverge.


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