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On May 26, according to South Koreas Joint Chiefs of Staff, North Korea launched an unidentified projectile into the western waters of the Korean Peninsula. North Korean officials have not yet released any official statement on the matter.Futures Market News, May 26th: Wheat prices remained generally stable today. Currently, we are in a transition period between old and new wheat varieties, and flour mills have rigid demand for stockpiling. Coupled with low stocks of old wheat, this provides support for wheat prices. Although old wheat prices are supported in the short term, the overall situation of ample supply and weak downstream demand remains unchanged. Flour mills are operating at low capacity, maintaining a just-in-time purchasing model. The emergence of low-priced sprouted wheat provides feed companies with new options. Short-term prices may remain stable with a slight upward bias. Attention should be paid to weather changes in producing areas.The National Bank of Kyrgyzstan kept its policy rate unchanged at 12.0%.According to the Financial Times, a senior EU official said that Britain could join a €4 billion EU startup equity fund by the end of this year as both sides work to remove the obstacles that have arisen since Britain left the EU six years ago.On May 26th, the Shenzhen Municipal Government released the Outline of the 15th Five-Year Plan for National Economic and Social Development. The plan proposes to coordinate the research and development and manufacturing of intelligent computing chips, the construction of computing infrastructure, and the development of model algorithms to create an efficient and user-friendly artificial intelligence technology foundation. It aims to solidify the foundation of the computing chip industry, promote the optimization and iteration of training chips such as Ascend and edge inference chips, and foster the prosperity of the domestic artificial intelligence computing power ecosystem. The plan also emphasizes strengthening the multi-layered intelligent computing power foundation, constructing high-standard training infrastructure, and creating a sustainable computing power supply system that is highly intelligent, collaborative, heterogeneous, and ubiquitous. Furthermore, it calls for strengthening basic theoretical research in artificial intelligence and innovation in model infrastructure, cultivating internationally leading domestic general-purpose large-scale models and industry application models, and promoting the application of model algorithms through high-value application scenarios. By 2030, the citys real-time available computing power will exceed 150 EFlops, with some indicators of domestic chips and computing clusters reaching international advanced levels, forming a powerful large-scale model foundation that supports comprehensive applications.

NZD/JPY Price Analysis: Falls to 84.40 as RBNZ inflation forecasts fall

Alina Haynes

Aug 08, 2022 11:55

 截屏2022-08-08 上午11.50.52.png

 

The NZD/JPY pair surpassed the immediate hurdle of 84.62 during the Asian session, but has since retreated back into the woods due to an unexpected decline in Reserve Bank of New Zealand (RBNZ) inflation forecasts. The economic data has been provided at a rate of 3.07 percent, which is less than the previous rate of 3.29 percent. The cross has exhibited a bullish open-drive session, in which the asset begins rising from the very first tick of the session. On a broader scale, the asset has broken to the upside from the consolidation created between 83.50 and 84.07 dollars.

 

On an hourly scale, the asset surpassed the downward-sloping trendline drawn from the 20 July high at 86.60, but it has since retreated. In addition, the cross is finding support near the 50 percent Fibonacci retracement level of 84.32 (which is located between the 20 July high of 86.60 and the 2 August low of 82.14)

 

At 84.00 and 84.11. respectively, the asset has surpassed the 50-period and 200-period Exponential Moving Averages (EMAs). Notable is the fact that the 200-EMA is selling for more than the 50-EMA, indicating that purchasing interest is exceptionally strong.

 

In addition, the Relative Strength Index (RSI) (14) has moved into the zone of 60.00-80.00, enhancing the upward filters. A break over Monday's high of 84.72 will propel the asset to the 61.8 percent Fibo level at 84.90, followed by the high of July 27 at 85.65.

 

In contrast, yen bulls could gain impetus if the cross falls below the 50-day exponential moving average (EMA) at 84.00. The asset will fall to Thursday's low of 83.46 and the 23.65 Fibonacci retracement level of 83.19 should a similar event occur.


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