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Egypt, Qatar, and Türkiye issued a joint statement strongly condemning the recent Israeli attacks in Gaza and expressing deep concern over the continued aggression.Futures Market Summary | Thursday, August 20th, CCTV News Highlights: 1. Xi Jinping sends congratulatory message to Hitchlema on his re-election as President of Zambia. 2. High-quality medical resources are being made available to lower levels of society, creating a new picture of a healthy China. 3. The CPC Central Committee, the State Council, and the Central Military Commission issue a decision to award Zhang Lu the "Second-Class Aerospace Merit Medal" and to confer the honorary title of "Heroic Astronaut" and award Wu Fei and Zhang Hongzhang the "Third-Class Aerospace Merit Medal." 4. Zhao Leji holds talks with the President of the Legislative Assembly of El Salvador. 5. Major projects across the country are progressing steadily. 6. The contribution of new drivers of my countrys industrial economy continues to strengthen. 7. Specialty agricultural products help farmers increase their income during the harvest season. 8. The All-China Federation of Trade Unions releases the "15th Five-Year Plan," clarifying the reform goals for the construction of the industrial workforce. 9. The basic medical insurance participation rate remained at around 95% during the "15th Five-Year Plan" period. 10. my country launches an innovation action for typical application scenarios of "artificial intelligence + transportation." 11. The Supreme Peoples Court amends its judicial interpretation on copyright cases. 12. Two departments deploy measures to develop service-oriented social assistance. 13. Chinas 240-hour visa-free transit "circle of friends" expands to 57 countries. 14. The 7th China-Africa Media Cooperation Forum opens. 15. Over 100 white-lipped deer recorded crossing the Yalong River in Shiqu County, Sichuan Province. 16. Japanese citizens protest against the dangerous moves of the Takashi City government, which they say are pushing the country to the brink of war. 17. The US president calls for devastating economic action against Iran; Iran says hostile vessels are strictly prohibited from entering the Strait of Hormuz. 18. US federal government debt surpasses $40 trillion for the first time; US media says the US structural crisis is worsening. 19. The Russian Pacific Fleet conducts exercises near disputed islands between Russia and Japan. 20. Germany reports another suspect arrested in the Nord Stream 2 bombing case. 21. Iraqi leaders meet with the Iranian parliament speaker to discuss deepening cooperation. 22. Israel says it will not tolerate Turkish troops presence in Syria; Turkey calls for an end to aggression. 23. The US cancels mission to rescue a satellite observatory due to technical problems.Russian Foreign Ministry: Russian Foreign Minister Sergey Lavrov will hold talks with a Vatican envoy on August 25.The Stoxx Europe 600 index fell further to 0.4%, hitting a new intraday low.On August 20th, Alibaba Group (09988.HK) released its financial report for the first quarter of fiscal year 2027. During the analyst conference call, CEO Wu Yongming stated that the surge in AI Agents has directly driven demand for tokens and GPU computing power, while also significantly boosting demand for traditional cloud products such as CPU computing power, storage, databases, and networks. Alibaba Cloud is undergoing a comprehensive upgrade to Agentic Cloud. According to the latest data in August, revenue from model and application services, including Maas, has exceeded RMB 16 billion. Based on current market feedback and contract orders, computing power demand will continue to exceed supply. With our continuous improvement in supply capacity, AI+cloud revenue growth will continue to accelerate in the coming quarters, and profitability will continue to improve.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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