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July 23 – The "15th Five-Year Plan for the Revitalization and Development of Traditional Chinese Medicine" was released today, comprehensively outlining the work plan for traditional Chinese medicine during the 15th Five-Year Plan period. The plan clarifies the guiding principles, development goals, and indicators for comprehensively promoting the development of traditional Chinese medicine during this period. The plan proposes that by 2030, a more complete traditional Chinese medicine service system covering the entire population and the entire life cycle will be established; new breakthroughs will be achieved in the prevention and treatment of major diseases using traditional Chinese medicine; the quality of grassroots services will be improved and upgraded; basic research capabilities will be significantly enhanced; the innovation and creativity of the traditional Chinese medicine industry will be greatly strengthened; and the cultural and international influence of traditional Chinese medicine will be further enhanced. The revitalization and development of traditional Chinese medicine will reach a new level, ensuring that everyone has access to traditional Chinese medicine services.On July 23, according to Qichacha APP, Chengdu Jisu Engine Technology Co., Ltd. was recently established, with a business scope including natural science research and experimental development; engineering and technology research and experimental development; and agricultural science research and experimental development. Qichachas equity penetration analysis shows that the company is indirectly wholly owned by Douyin Co., Ltd.July 23 – Mizuho Securities economist Yusuke Matsuo stated that Bank of Japan Governor Kazuo Ueda is expected to reiterate his stance of seeking further interest rate hikes at next weeks press conference, but this is unlikely to reverse the yens weakening trend. "The market has largely priced in the Bank of Japans expectation of raising interest rates every six months, so such a statement alone is unlikely to significantly boost the yens exchange rate. Given market expectations that the central bank will clarify the timing and magnitude of the next rate hike, any stance interpreted as dovish could exacerbate the yens weakness in an environment of overall dollar strength." The market widely expects the Bank of Japan to keep its policy rate unchanged at 1% next week to assess the impact of the previous rate hike.On July 23, the China Federation of Logistics and Purchasing released the "2026 Digital Procurement Development Report." According to the report, the penetration rate of digital procurement among Chinese enterprises continues to increase, creating conditions for full-cycle digital management from bidding and tendering to procurement and contract fulfillment. Overall, my countrys total digital procurement volume reached 23.2 trillion yuan in 2025, with a digital penetration rate of 11.8%, an increase of 0.3 percentage points from the previous year. Since 2022, the penetration rate of digital procurement has increased year by year. Enterprise surveys show that in terms of large-scale models and intelligent agent applications, AI applications in 20 scenarios across eight stages of bidding and tendering are gradually being implemented, and the penetration rate of AI applications in procurement e-commerce exceeds 50%.Southern Securities double-leveraged long position in Hynix (07709.HK) surged over 10%, while Southern Securities double-leveraged long position in Samsung Electronics (07747.HK) rose over 8%.

The AUD/USD is hovering around 0.7500 ahead of the US NFP and Caixin Manufacturing PMI

Drake Hampton

Apr 01, 2022 10:07

Tips

  • As investors anticipate the next set of US data, the AUD/USD is hanging around 0.7500.

  • The Caixin manufacturing PMI is expected to keep the Aussie bulls at bay.

  • Despite rising commodity prices, the Australian dollar has been a standout performer.

 

The AUD/USD pair has been trading in a band of 0.7456-0.7537 for the whole week as investors await the publication of US Nonfarm Payrolls and Caixin Manufacturing Purchase Managers Index (PMI) data.

 

The Caixin China Manufacturing PMI preliminary estimate is 49.7 points lower than the previous print of 50.4. Australia, being a big exporter to China, has a favorable association with the data provided above. Following Russia's invasion of Ukraine, the Australian dollar has maintained a top performer in the forex market. Rising commodity prices have supported the antipodean against major currencies. Even a cease-fire between Russia and Ukraine will increase the drive aussie, as Europe's goal of independence from Russian oil will alter its reliance on the commodity-exporting currency for energy.

 

The US dollar index (DXY) has risen above 98.40 on gloomy market mood, as global equities fade amid dwindling hope about Russia-Ukraine peace talks. After being a value bet for market players, the DXY has sensed a sheer response buying near 97.70. Despite a slightly lower Core Personal Consumption Expenditure (PCE) inflation rate of 5.4 percent vs the projection of 5.5 percent, Thursday's data set has given the dollar some support.

 

On Friday, the US docket will announce Nonfarm Payrolls (NFP), which is predicted to be 490k, significantly lower than the previous figure of 678k. This will have a substantial impact on the Federal Reserve's eventual interest rate decision (Fed).


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