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On December 30th, the Ministry of Education held a press conference to introduce the progress and achievements of digital education during the 14th Five-Year Plan period. It was learned that the National Smart Education Platforms resource and service system has been continuously improved, with the recent addition of preschool education and postgraduate education modules, achieving full coverage of the platforms service recipients. Simultaneously, the National Big Data Center, serving as the national-level education "data foundation," and the National Platforms intelligent middleware platform, acting as the "smart brain," were officially launched today, enabling the sharing and integration of educational data and the intelligent upgrade of the national platform, propelling the basic digital education service capabilities into a new stage of intelligence.On December 30th, it was learned from the Ministry of Natural Resources that during the 14th Five-Year Plan period, my countrys surveying and mapping geographic information industry has accelerated its transformation and upgrading, with significant progress made in the construction of a real-scene 3D China and a nationwide network of satellite navigation and positioning reference stations. The Ministry of Natural Resources stated that during the 14th Five-Year Plan period, my countrys surveying and mapping geographic information industry has undergone continuous transformation and upgrading. Intelligent surveying and mapping technologies have made continuous innovation and breakthroughs, achieving independent support for natural resource satellite remote sensing imagery, and data is updated monthly and quarterly. Breakthrough progress has been made in the research and development of surveying and mapping equipment, with products such as UAV photogrammetry systems, BeiDou receivers, and high-precision total stations reaching international first-class levels. At the same time, a preliminary real-scene 3D China has been established, with 5-meter and 10-meter grids and other series of products covering the entire land territory, and 1:10,000 data covering 70% of the land territory.On December 30th, the Ministry of Natural Resources stated that during the 14th Five-Year Plan period, my countrys public geographic information services will be continuously enriched, and the integration of the geographic information industry with new business models will deepen. The total output value of the geographic information industry is expected to exceed 900 billion yuan. During the 14th Five-Year Plan period, my country will continuously strengthen the supply of geographic information services. The National Geographic Information Resource Catalog Service System will release 8.09 million resource catalogs, and the total number of standard maps released nationwide will reach 13,000, forming a three-tiered service architecture at the national, provincial (autonomous region, municipality), and municipal levels. At the same time, the geographic information industry will flourish. A standard system for autonomous driving maps will be gradually established, and autonomous driving map products covering ordinary roads in major and medium-sized cities across the country (Level L3 and below) will be widely used. By the end of the 14th Five-Year Plan period, the total output value of my countrys geographic information industry is expected to exceed 900 billion yuan, an increase of over 30% compared to the 13th Five-Year Plan period, with more than 4 million employees.December 30th - The "2025 China Manufacturing Power Development Index Report" shows that in 2024, my countrys manufacturing industry forged ahead despite pressure, moving towards innovation and excellence. The manufacturing power development index was in the same range as Germany and Japan, with all sub-indices showing positive growth. China entered the second tier of global manufacturing powerhouses, successfully achieving the "first step" strategic goal of building a manufacturing powerhouse, becoming the fourth country after the United States, Germany, and Japan to enter the ranks of global manufacturing powerhouses.December 30th - The Central Rural Work Conference was held in Beijing from December 29th to 30th. The conference emphasized the need to establish a normalized mechanism to prevent people from falling back into poverty, improve the normalized assistance policy system, continue to support the development of underdeveloped areas, and continuously consolidate and expand the achievements in poverty alleviation. It also stressed the importance of improving rural construction implementation mechanisms according to local conditions, optimizing the spatial layout of rural land, accelerating the improvement of shortcomings in modern rural living conditions, and creating high-quality living spaces in rural areas. Furthermore, it called for continuous improvement of the rural living environment, resolving issues such as rural toilet renovations and garbage accumulation in villages with a persistent and determined approach.

NZDUSD maintains gains over 0.58 despite a small USD fall; attention focuses on NFP data

Daniel Rogers

Nov 04, 2022 17:44

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New buying activity emerges near 0.5755 for the NZDUSD on Friday, reversing the previous day's drop to a weekly low. Throughout the early European session, the pair has maintained a bid tone and is currently trading just over the 0.5700 round-figure mark at the day's high.

 

The US Dollar appears to have halted its post-FOMC rally and ended its six-day winning streak, supporting the NZDUSD pair. A generally upbeat mood on the equity markets is anticipated to weigh on the safe-haven dollar and assist the risk-averse New Zealand currency. Aside from this, the USD loss may be attributable to repositioning trading before of the highly anticipated US jobs report, which is due to be released later during the early North American session.

 

However, elevated US Treasury bond yields, which are supported by the Federal Reserve's more hawkish stance, may prevent a deeper USD decline and limit gains for the NZDUSD pair. Recall that Fed Chair Jerome Powell denied expectations of a dovish reversal and stated that it was premature to discuss a halt to the rate-hiking cycle. Powell said that the terminal rate will remain higher than anticipated, resulting in a substantial increase in US Treasury bond yields.

 

In fact, the yield on the two-year US government bond, which is very sensitive to interest rate hike predictions, reached a 15-year high on Thursday and inched closer to the psychological 5% level. In the interim, the benchmark 10-year US Treasury note remains over the 4% threshold, which is bullish for the USD. Ahead of the big data risk, the fundamental environment could prevent traders from launching aggressive bets and limit the NZDUSD pair's gain for now.