• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 22, the Colombian National Disaster Risk Management Agency issued an updated disaster report stating that the strong earthquake that struck the country recently has caused 329 deaths, 4,600 injuries, and 247 missing persons, with 364 people rescued. According to the China Earthquake Networks Center, a magnitude 7.5 earthquake struck northwestern Colombia on the evening of August 10 (morning of August 10 local time), with a focal depth of 80 kilometers. Thirty-two cities across Colombia were severely affected.August 22nd - The APEC Customs and Business Dialogue concluded yesterday (August 21st). Reporters learned at the dialogue that Chinese customs has signed six bilateral agreements with relevant departments of several APEC economies, including Chile and South Korea, covering imported agricultural and food products such as instant noodles containing meat and fresh fruits.On August 22nd, experts stated that the price increase of domestically produced large-scale models is a correction to the long-standing inversion of inference computing power costs. In the short term, this is more like a recalibration of price and value. However, if manufacturers only raise prices without keeping up with stability and other aspects, users will vote with their feet, as the cost of replacing models is decreasing. Going forward, it is necessary to continuously monitor the dual verification of the price increase strategy: firstly, whether manufacturers have matched the price increase with new model capabilities, rather than simply raising the price of old models; secondly, it is necessary to pay attention to where the increased revenue is used, whether it has been used for computing power expansion and service capability building.On August 22, the Russian Ministry of Defense reported that on August 21, Russian forces continued their strikes against ports and vessels serving the interests of the Ukrainian Armed Forces. The report stated that Russian drones struck a military warehouse in the port of Leny; a Ukrainian naval patrol boat in the port of Chernomorsk; and port infrastructure used for storing military supplies in a southern port. Additionally, Russian forces seized control of a settlement in the Donetsk region. Ukrainian President Zelenskyy posted on social media on August 21 that Ukrainian forces launched long-range strikes in the early hours of the day, hitting two important Russian targets: an oil refinery and a military airfield. Ukraine also stated that it had achieved results on the Black Sea front, but did not disclose specific targets or the extent of damage.According to the New York Times, Anthropic may be planning to raise $100 billion in its initial public offering.

The EUR/USD Declines toward 1.0500, with US Inflation and ECB Lagarde in the Spotlight

Alina Haynes

May 09, 2022 10:10

The EUR/USD fell below 1.0530 and is likely to test the psychological support level of 1.0500. After Monday's opening bid, the value of the asset is continuing to decline. As of now, a bearish open trend has been noticed, and the index is attempting to challenge its bottom from the previous week at 1.0483.

 

Euro bulls are anticipated to stay volatile this week ahead of Wednesday's speech by Christine Lagarde of the European Central Bank (ECB). Lagarde's statement will shed light on the expected monetary policy action taken by the ECB in June. Notable is the fact that the ECB left its interest rates constant in its most recent announcement regarding interest rates. Until the end of its bond-buying program, which is anticipated for the third quarter, the European Central Bank (ECB) has mandated that policy rates would remain constant. Consequently, investors should not anticipate a rate increase from the ECB before the end of the year. In addition, fears of stagflation in the eurozone following the Ukraine crisis have diminished the likelihood of the ECB adopting a hawkish tone.

 

In the meantime, the US dollar index (DXY) transforms any corrective downturn into an ideal purchasing opportunity for market participants. The DXY is robust as the probability of a June rate hike by the Federal Reserve (Fed) rises. At the time of publication, the DXY has risen above 130.90 and is inching closer to recapturing last week's peak of 104.06.

 

Aside from ECB Lagarde's speech, investors are focusing on Wednesday's release of US inflation data. A preliminary estimate for annual US inflation is 8.1 percent, down from the previous estimate of 8.5 percent. 

EUR/USD

image.png