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On July 19th, Hong Kong Financial Secretary Paul Chan Mo-po announced in his blog that the Hong Kong SAR government will launch an optimized version of the "Digital Transformation Support Pilot Scheme" this year to support SMEs in adopting readily available artificial intelligence solutions. Hong Kongs AI strategy has moved from piecemeal implementation to a systematic deployment phase, aiming to empower various industries with AI. Chan stated that Hong Kong, as an international innovation and technology center, leverages its advantages under the "One Country, Two Systems" framework to serve as a hub for AI R&D and commercialization, as well as a strategic location for mainland AI companies expanding overseas, assisting in aligning cutting-edge technologies and business models with international standards and applications. He emphasized the SAR governments strong commitment to AI-related infrastructure and ecosystem development. The Sha Ling Data Park, already under construction, will provide approximately 180,000 PFlops of computing power by 2032, equivalent to 36 times Hong Kongs current total computing power; the Artificial Intelligence Research Institute is also about to commence operations; and the Hong Kong Investment Corporation (HKIC), wholly owned by the SAR government, allocated 56% of its investment in various projects last year to hard technologies, including AI.On July 19th, Tianshu Intelligent Chip officially launched its new generation of general-purpose GPU flagship product, the Tiangai 300, at WAIC2026. The Tiangai 300 is based on the SIMT general-purpose computing architecture and is designed for three intelligent trends: information, action, and exploration. It features comprehensive upgrades in chip architecture, key operators, system expansion, and software ecosystem. Test data provided by Tianshu Intelligent Chip shows that the Tiangai 300s performance under complex business workloads is comparable to and surpasses mainstream international solutions based on the Hopper architecture. The company revealed that the Tiangai 300 is currently ready for large-scale application and has undergone deep adaptation with domestic cloud vendors, server vendors, internet ecosystems, and supernode systems, supporting large-scale deployment from single machines to large-scale clusters.According to RIA Novosti, the Russian Ministry of Defense stated that Russian forces have taken control of Verny in eastern Ukraine.On July 19, the Bahrain Defense Forces Command issued a statement saying that Iran continued its attacks on Bahrain, and that Bahrains air defense system intercepted and destroyed multiple missiles and drones originating from Iran that morning. The Command stated that all its operational units and forces were on high alert and fully prepared for defense. Earlier that day, the Bahrain Interior Ministry advised the public to remain calm and move to the nearest safe location.According to Irans Mehr News Agency, the Atomic Energy Organization of Iran condemned the US airstrike on the Dalkhov nuclear power plant under construction, calling it a "crime in violation of international law."

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

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