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On May 9th, the State Administration for Market Regulation issued the "Implementation Plan for the Special Action to Raise the Threshold for Certification Bodies," deciding to organize a nationwide special action to raise the threshold for certification bodies from now until December. According to the plan, the special action deploys 15 specific measures in four aspects: strictly controlling institutional access, standardizing certification activities, improving certification capabilities, and strengthening supervision. These measures include: strictly controlling access and licensing in accordance with the law through measures such as improving the certification body qualification licensing review system, strictly reviewing certification body qualifications, strengthening expert technical review support, and implementing on-site verification of qualification compliance; standardizing certification activities through measures such as improving certification management methods, improving nationally unified certification rules, strengthening the filing and review of certification rules, and reinforcing the main responsibilities of institutions and personnel; promoting certification capabilities through measures such as increasing efforts to cultivate brand certification bodies, strengthening special supervision of accreditation, and enhancing the innovation capabilities of certification bodies; and strengthening supervision to promote the healthy and orderly development of the certification service industry through measures such as strengthening risk monitoring and early warning of certification activities, strengthening "random inspections and public disclosure," improving the effectiveness of intelligent supervision, and improving the institutional exit mechanism.On May 9th, the Ministry of Industry and Information Technology issued a notice to officially launch the Pilot Program for Ethical Review and Services of Artificial Intelligence Technology. Based in the provinces where the National Artificial Intelligence Industry Innovation and Application Pilot Zones are located, the program will explore the implementation path of ethical review and services for artificial intelligence technology, improve the multi-party participation and efficient governance mechanism, and support responsible innovation and high-quality development of the artificial intelligence industry.May 9 - According to Irans Mehr News Agency, the Iranian Islamic Parliament will hold its first meeting since the outbreak of hostilities on May 10 via video conference. A spokesperson for the parliaments presidium stated that the parliament will focus on issues such as inflation.On May 9, 2026, Pan Gongsheng, Governor of the Peoples Bank of China, met with Bonne, Foreign Affairs Advisor to the President of France, on May 7. The two sides conducted practical communication and exchanges on the economic and financial situation in China and globally, as well as cooperation between China and France in the economic and financial fields under multilateral and bilateral mechanisms. Xuan Changneng, Vice Governor of the Peoples Bank of China, also attended the meeting.On May 9th, the State Administration for Market Regulation (National Standardization Administration) approved and released 402 important national standards and standard amendments, covering emerging fields, ecological and environmental protection, work safety, agricultural development, and peoples livelihoods. In emerging fields, 21 national standards were released for photovoltaic, hydropower, and nuclear energy, ensuring safe and efficient energy use. 23 national standards were released for BeiDou navigation, semiconductor devices, electronic gases, and robotics, promoting the upgrading of the electronic information equipment industry. 39 national standards were released for computing power, artificial intelligence, communications, network security, and data specifications, solidifying the foundation of the digital industry. 34 national standards were released for remote testing network systems for launch vehicles and external payload interfaces for space stations, strengthening the safety, reliability, and compatibility of aerospace equipment and solidifying the foundation for industry standardization.

USD/CHF Steady at 1.0020 as DXY Pauses, Powell and US Retail Sales Take Center Stage

Daniel Rogers

May 16, 2022 10:46

The USD/CHF pair is bouncing within a small range between 1.0020 and 1.0030 in early Tokyo, as the US dollar index (DXY) is not gaining much traction due to Monday's light economic calendar. Although broad-based fundamentals continue to favor the dollar bulls, the Federal Reserve (Fed) is projected to raise interest rates by another significant number in June in an effort to limit the inflation issue.

 

Last week, Fed's Powell's interview with the national radio show Marketplace revealed the ongoing conversations among Fed policymakers regarding anticipated rate hikes in monetary policies. Fed Powell indicated that the Fed could declare two additional rate hikes in the next two consecutive monetary policy sessions in order to tame the soaring inflation.

 

In the meantime, the US dollar index (DXY) is poised between 104.46 and 104.60 after reaching a new 19-year high of 105.00 on Friday. The DXY appreciates the broader gains but requires further triggers to maintain strong. In the future, two significant events on Tuesday will keep investors occupied. First will be Fed Chairman Powell's speech, which will likely influence monetary policy action in June. The second significant event is the monthly US Retail Sales report, which is anticipated to increase by 0.7% from the previous reading of 0.5%.

 

In terms of the Swiss franc, Friday's Industrial Production data will be the focal point. The catalyst reached 7.3% the previous time. A greater-than-anticipated number will strengthen the Swiss franc against the U.S. dollar. 

USD/CHF

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