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August 20th - Since the beginning of this year, my countrys consumer market has maintained a trend of innovation and improvement, with the market size steadily expanding and the quality of development continuously improving. From January to July, the total retail sales of consumer goods and services increased by 2.6% year-on-year; the total retail sales of consumer goods reached 28.77 trillion yuan, an increase of 1.2%, of which retail sales of consumer goods excluding automobiles increased by 2.7%.Chinas July SWIFT RMB share in global payments and the one-year loan prime rate (LPR) up to August 20 will be released in ten minutes.The United States has secretly opened the Hormuz oil route, with 15 to 20 oil tankers passing through quietly at night each day, transporting approximately 10 million barrels of crude oil to the sea. A quick overview of the pre-market crude oil prices (converted between domestic and international markets) is provided in the chart.The US Treasury expanded its long-term Treasury bond repurchase program, causing precious metals to fluctuate at high levels. A chart provides a quick overview of the pre-market conversion prices of gold and silver in both domestic and international markets.On August 20th, according to news from China Optics Valley, on August 18th, at the signing ceremony for the cooperation between Tongji Hospital and Tianqin Biotechnology Research Platform, six scientific and technological innovation platforms were unveiled: the Experimental Animal Center of the National Medical Center for Major Public Health Emergencies, the Experimental Animal Center of Tongji Hospital, the Hubei Provincial Brain-Computer Interface Technology Innovation Center, the Hubei Provincial Brain Science and Brain-Computer Interface Concept Proof Center, the Tongji Hospital Brain-Computer Interface Research Institute, and the Tongji Hospital-Tianqin Biotechnology Brain-Computer Fusion Translational Medicine Joint Laboratory. On the same day, a number of major projects were launched simultaneously. Among them, the National Data Bureaus "High-Quality Brain-Computer Interface Dataset Construction Project" has a total investment of 122 million yuan and a construction period of 24 months. It will focus on building multimodal high-quality datasets for 10 types of diseases, including stroke rehabilitation, spinal cord injury, Parkinsons disease, and epilepsy. Simultaneously, the Hubei Provincial Health and Biomedical New Technology Research and Transformation Special Project, "Key Technologies and Clinical Transformation of Closed-Loop Neuromodulation Brain-Computer Interface" and the "Optics Valley Brain-Computer Interface Data and Computing Power Platform" project were also launched.

Natural Gas fails to find firmer traces, eaches a new 33-month low near $2.13 per barrel

Daniel Rogers

Apr 03, 2023 14:10

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Natural Gas (XNG/USD) price disregards Oil's rally and falls to a new 33-month low near $2.13 on Monday morning. The energy instrument's recent volatility may be attributable to concerns about milder weather in the West, as well as the US Dollar's recent rebound ahead of March's crucial employment report.

 

In spite of this, the Organization of Petroleum Exporting Countries (OPEC) and its allies, headed by Russia and known as OPEC+, unexpectedly announced a 1.16 million barrels per day output reduction, which exacerbated inflationary concerns. As a result, traders may reevaluate their prior optimism regarding future inflation ease, which encourages central policymakers to maintain their hawkish bias and permits the US Dollar to nurse its wounds. As of press time, the US Dollar Index (DXY) is up 0.33 percent intraday near 102.32.

 

Not only did OPEC+-induced inflation concerns and a stronger US dollar weigh on XNG/USD prices, but China's disappointing PMI data also contributed to the decline.

 

China's Caixin Manufacturing PMI for March decreased to 50.0 from 51.6 previously and 51.7 market forecasts.

 

On a separate page, discussions of milder weather in the West and increased gas supplies from Germany exert downward pressure on the XNG/USD exchange rate.

 

In light of these maneuvers, the price of Natural Gas may continue to be under pressure toward the $1.53 mark in 2020. However, today's US ISM Manufacturing PMI and S&P Global Manufacturing PMI for March can provide intraday guidance for commodity prices before Friday's US Nonfarm Payrolls report. (NFP).