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On May 23, it was learned from the National Bureau of Data Science and Technology that the "Data Elements ×" initiative is accelerating the construction and operation of data infrastructure. The National Bureau of Data Science and Technology has conducted two rounds of pilot projects for data infrastructure construction, promoting the application and dynamic optimization of six technical routes, including privacy-preserving computing, blockchain, trusted data space, data fields, data networks, and data elements. Based on this, it has also incorporated cutting-edge technologies such as data weaving, data grids, and ontology. Currently, the two pilot projects cover 15 industries and 43 cities, collaborating with 19,000 ecosystem entities, launching 38,000 data products, and implementing over 270 application scenarios, promoting the release of data value on a larger scale and at a deeper level. Liu Liehong, Director of the National Bureau of Data Science and Technology, stated that this years "Data Elements ×" competition has added a "Data Infrastructure Track," hoping to strengthen the coupling between data infrastructure and application scenarios through "promoting application through competition and combining construction with application," and promoting the dynamic optimization and upgrading of technical routes and the verification of standards.Iranian Defense Ministry spokesman: Unless US President Trump accepts the demands of the Iranian people and respects Irans rights, he will face further setbacks.On May 23, Minister of Commerce Wang Wentao met with Malaysian Minister of Investment, Trade and Industry Johari in Suzhou on May 21. Johari was in China to attend the APEC Trade Ministers Meeting. The two sides exchanged views on deepening China-Malaysia economic and trade relations. Wang Wentao pointed out that China is willing to work with Malaysia to implement the "China-Malaysia Five-Year Plan for Economic and Trade Cooperation (2024-2028)," welcomes Malaysias active participation in the China International Import Expo and other exhibitions and the "Sharing the Big Market, Exporting to China" series of activities, and hopes that Malaysia will create a favorable environment for Chinese enterprises to invest in Malaysia. China is willing to further strengthen coordination and cooperation with Malaysia in regional and multilateral fields. Johari expressed his expectation that both sides will further deepen cooperation in traditional areas such as trade and investment, actively expand cooperation in emerging fields such as advanced manufacturing, and welcome more Chinese enterprises to invest and do business in Malaysia.According to Israels Channel 12: Security agencies are preparing for a possible decision by Trump to take military action against Iran in the coming days.According to Israels Channel 12: Israel is closely monitoring the draft agreement between the United States and Iran, fearing that Tehran may receive sanctions relief without resolving the nuclear issue.

Weekly Market Outlook and Review – Week Ending 20 January

Jimmy Khan

Jan 16, 2023 15:43

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US Federal Reserve Chair Jerome Powell participated in a panel discussion on Tuesday (Central bank independence and the mission - changing viewpoints) in his first public appearance of 2023 and reaffirmed the commitment of the central bank to keep inflation under control. As interest rates are raised to slow the economy, Powell said, "restoring price stability when inflation is strong might involve policies that are not popular in the near term." However, there were few remarks about the new policy.


However, US inflation was the week's primary high point. According to the US Bureau of Labor Statistics, consumer prices decreased for a sixth straight month in the 12 months leading up to December (2022), easing to 6.5%. (BLS). This comes after the June 2022 high of 9.1%. US core annual inflation, which excludes energy and food, decreased by 0.3 percentage points from November's 6.0% figure to 5.7% in the 12 months ending in December.


Risk assets saw a buy as a result of this because market players expect the US Federal Reserve's policy tightening to slow down (Fed). The market has virtually priced in a 25 basis-point rise for the next Fed meeting on February 1 based on the pricing of Fed Fund futures contracts, according to the CME's FedWatch Tool. This move would raise the Federal Funds target range to 4.50%-4.75%.


Major US stock indexes battled their way into another week of gains on the markets (S&P 500 up 2.7%), helped by favorable US inflation data and the start of Q4 results on Friday, which were heavily weighted toward banking companies. While Wells Fargo & Co missed quarterly targets, JPMorgan Chase & Co exceeded them. The closely followed FAANG index in the equities market was noteworthy as well since it had a strong week of gains. Amazon increased by 14.0%, while Netflix was close behind at 5.47%.


The (main) currency market saw notable outperformers including EUR/USD, AUD/USD, and GBP/USD rise by 1.78%, 1.48%, and 1.15%, respectively. The USD/JPY fell by a startling 3.17% for the week, while the USD/CAD lost 0.35%.


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