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On January 12th, Baisheng Intelligent announced that it recently signed a "Strategic Cooperation Agreement on Parking Lots" with Baolong Group, with a planned total cooperation amount of 200 million yuan. Baolong Group and its affiliated companies own commercial parking lot operation rights/ownership nationwide. To effectively manage parking spaces and improve parking service and management levels, they need to cooperate with professional operating companies to operate parking lots. Baisheng Intelligent and its affiliated companies are integrated parking solution operators specializing in parking and new energy vehicle charging operation management, and can undertake the systematic operation of commercial parking lots.Tianhe Defense: The companys radio frequency devices and chip products can be used in the field of satellite communications.On January 12th, Tmall released its "2025 New Brand Development Report." Regionally, Guangzhou, Shenzhen, Jinhua, Hangzhou, Quanzhou, Xiamen, Wuhan, Xuzhou, Dongguan, and Zhengzhou saw the most new merchants, becoming Tmalls top 10 cities for brand creation in 2025. Guangzhou continues to lead in entrepreneurial vitality, ranking first for three consecutive years, with over 18,000 new stores opening in Guangzhou in 2025, double the number in 2023.January 12th - Today, Jia Yueting, founder of Faraday Future, announced that FF will hold the final launch of its first batch of embodied intelligent robot products at the NADA North American Automotive Dealer Conference on February 4th, and simultaneously launch sales.On January 12, it was reported that on January 8, Vice Minister of Finance Liao Min met with former Canadian Prime Minister Jean Chrétien in Beijing to exchange views on China-Canada relations, China-Canada economic and trade relations, and two-way investment. Liao Min stated that China is willing to work with Canada to implement the important consensus reached by the leaders of the two countries, resume and restart dialogue and cooperation in economic and financial fields, and promote the healthy, stable, and sustainable development of China-Canada relations and China-Canada economic and trade relations. Chrétien positively appraised the current positive momentum in Canada-China relations, believing that the stable development of Canada-China relations is in the interests of the people of both countries. He noted that the economies of Canada and China are highly complementary and have broad prospects for cooperation, and expressed his willingness to continue contributing to the development of Canada-China relations and Canada-China economic and trade relations.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

 截屏2022-08-09 上午10.12.13.png

 

The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


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