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SK Hynix is reportedly considering paying a 0.5% fee on its massive ADR offering.On July 4th, a team led by Professor Yang Yuchao of the School of Integrated Circuits at Peking University, in collaboration with a team led by Researcher Song Zhitang of the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, successfully developed the worlds first neurodynamics system-on-a-chip based on phase-change memristors. This breakthrough reduces the single-step latency of such complex calculations to 2.12 milliseconds for the first time. In tasks such as cortical reconstruction, this represents a speedup of 50 to 478 times compared to current advanced graphics processing units (GPUs), overcoming a real-time computing bottleneck that has constrained neurodynamics for half a century. The relevant findings were published in *Science* on the morning of July 3rd.On July 4, Jiang Lue, spokesperson for the China Coast Guard, stated that the Xiushan frigate flotilla replaced the Daishan frigate flotilla on July 4 and continued its law enforcement patrols in the waters east of Taiwan. Since June, the Daishan frigate flotilla has continuously conducted patrols, verification operations, and fishery protection and rescue operations in the relevant waters to ensure normal navigation and operational order and safeguard the legitimate rights and interests, as well as the lives and property of Chinese fishermen, including compatriots from Taiwan. The China Coast Guard will continue to strengthen law enforcement patrols in waters under its jurisdiction and resolutely safeguard national territorial sovereignty and maritime rights.July 4th - US President Trump: The US economy is booming! The stock market just recorded its best quarterly performance since my last term. The S&P 500, Nasdaq, and Dow Jones indices all surged, and Americans 401(k) retirement accounts continued to grow. My tax cuts for working families have put more money in American pockets. The US trade deficit continues to narrow, and exports have hit record highs for several consecutive months. The US is building, producing, and selling at an unprecedented pace. The trillions of dollars in new investment attracted under my administration mean more factories, more jobs, and more opportunities for the American people. This is victory. Americas "golden age" has begun, and this is just the beginning!July 4th - The Fujian Provincial Government recently issued the "15th Five-Year Plan for Digital Fujian," further detailing the development goals and key tasks for the construction of Digital Fujian during the 15th Five-Year Plan period. The plan proposes that by 2030, the provinces level of digital and intelligent development will reach a leading position domestically, continuously consolidating its advantages in areas such as market-oriented allocation of data elements, industrial digitalization, digital government construction, and the digital and intelligent development environment, making Digital Fujian a benchmark for the construction of Digital China. Specifically, it aims to achieve an average annual growth rate of over 8% in the added value of the core digital economy industries over the next five years.

With RBA Minutes and central banks in focus, AUD/USD extends its three-day gain above 0.6700

Daniel Rogers

Sep 20, 2022 14:38

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AUD/USD accepts offers to achieve a fresh intraday high near 0.6735 during Tuesday's Asian session, extending the corrective comeback from the yearly low. In doing so, the Australian pair departs from typical pre-event restraint in the face of a light schedule and a variety of concerns.

 

However, the recently issued Australia weekly Consumer Confidence, as reported by ANZ Roy Morgan, rose 0.4% week-over-week, but failed to excite AUD/USD bulls because markets worry the Reserve Bank of Australia's (RBA) inability to defend aggressive rate moves.

 

Similarly, the recent fall in inflation expectations and the market's anticipation of the RBA's and People's Bank of China's (PBOC) measures had aided AUD/USD buyers in the past.

 

Notable is the fact that US inflation expectations, as measured by the 10-year breakeven inflation rate according to the St. Louis Federal Reserve (FRED) statistics, fell for the third consecutive day to a two-month low of approximately 2.34 percent by the end of Monday's North American trading session. Moreover, according to FRED data, the 5-year breakeven inflation rate plunged to 2.44 percent, its lowest level since September 2021. Concerns were raised regarding the unanticipated market response to the Fed's hawkish wagers. Given the drop in US inflation projections, concerns of a short squeeze in the Aussie-U.S. dollar pair receive considerable attention, allowing the AUD/USD to sustain its momentum.

 

However, US President Biden's willingness to defend Taiwan if China attacks Taiwan and hawkish expectations for the Fed appeared to weigh on the AUD/USD exchange market ahead of significant monetary policy announcements. In response to US Vice President Joe Biden's remarks, China's Foreign Ministry declared on Monday that Beijing "deplores and fiercely opposes this and has lodged strong concerns."

 

In light of these circumstances, the CME's FedWatch algorithm forecasts an 82% chance of a 75-basis-point rate hike at the monetary policy meeting on Wednesday. In addition, the tool says that there is an 18% likelihood that the Fed's rate would raise by one percent. Wall Street ended on a high note, allowing S&P 500 Futures to record slight gains as traders prepare for the opening of the real markets. Additionally, US Treasury interest rates remain positive near the multi-day peak.

 

Prior to the release of secondary US home market data, AUD/USD buyers may be interested in the RBA Minutes and the PBOC's anticipated rate cut. Nonetheless, the Federal Open Market Committee meeting on Wednesday merits the highest attention (FOMC).


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