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Israel Defense Forces: Lieutenant General Eyal Zamir, Chief of the General Staff of the Israeli Army, met with U.S. Air Force Commander General Kenneth Wilsbach and Air Force Commander Major General Omer Tishler last Sunday. They discussed regional situation assessments, lessons learned from joint operations, and areas for future cooperation.On August 26, Iranian Parliament Speaker Mohammad Qassem Ghalibaf, during a meeting with Iraqi Supreme Judicial Council Chairman Faik Zidaun, stated that Iran and Iraq play a crucial role in establishing regional order and emphasized the need for further cooperation between the two countries. Regarding the war between Iran and the United States, Ghalibaf stated that the US launched the war against Iran with the aim of overthrowing the Iranian government and expanding its hegemony in West Asia and the Muslim world. However, he asserted that thanks to the courageous resistance of the Iranian people and the efforts of the resistance front, the US has clearly failed to achieve this goal, a fact acknowledged by the entire world. He stated that the US has failed in its military and political war against Iran, and its economic actions will also end in failure. On the issue of Iraq, Ghalibaf stated that the withdrawal of the US-led coalition from Iraq was a historic achievement for the Iraqi government and people. He expressed his belief that Iran and Iraq can play a decisive role in regional order, especially in the Persian Gulf region.On August 26, Australian Prime Minister Barnes stated that he has secured the agreement of regional leaders, including Queensland, which had previously opposed the proposal, to push forward with new regulations on energy use for artificial intelligence (AI) data centers, with the goal of enacting them next year. The Australian National Cabinet has agreed to establish minimum requirements for data center electricity, water, and land use. The government stated that it plans to draft the new regulations by the end of this year and legislate them in early 2027. Barnes stated, “We have reached a consensus on national AI law for Australia. We want to ensure that while attracting investment, we don’t end up with eight different regulations running simultaneously across the country.” Queensland and the Northern Territory initially opposed Barnes’ proposal, which included requirements for high-energy-consuming data centers to use renewable energy. Queensland officials previously argued that this would give Canberra greater control and could hinder investment.On August 26th, the Shanghai Municipal Government General Office issued the "Shanghai Strategic Emerging Industries Development 15th Five-Year Plan". It mentions focusing on key areas to strengthen forward-looking planning and further comprehensively enhance the integrated circuit industrys capabilities. Key development areas include: 1. High-end chips and AI-enabled design. Accelerate the R&D and industrialization of high-end chips; build vertical models and intelligent agents for chip design, and achieve design process reshaping and simulation acceleration through AI empowerment. 2. Advanced packaging. Promote the R&D and mass production application of new technologies such as advanced packaging, and support the R&D of packaging equipment and materials. 3. New devices and new architecture chips. Support the R&D of new material devices such as two-dimensional materials, and promote the design and tape-out of three-dimensional stacked architecture chips.On August 26th, the Shanghai Municipal Government General Office issued the "Shanghai Strategic Emerging Industries Development 15th Five-Year Plan". It mentions strengthening the cultivation of new intelligent terminals, focusing on application scenarios such as next-generation mobile internet, smart homes, and smart factories, creating internationally competitive consumer-grade new intelligent terminal brands, and launching a number of blockbuster terminal products. Key development areas include: 1. Key Hardware: Accelerating breakthroughs in key technologies such as edge AI chips, next-generation new displays, and flexible material sensors, and promoting technological iteration in areas such as micro-LEDs, waveguide lenses, and high-performance rendering engines. 2. Edge Models: Creating lightweight, multimodal edge vertical models, optimizing iterative model compression algorithms, and achieving performance levels of edge models that are basically comparable to large cloud models in various application scenarios. 3. Intelligent Consumer Terminals: Developing new AI consumer terminals such as AI computers, AI phones, AI glasses, bionic robots, and intelligent wearable devices, supporting a new manufacturing model of "product design + standard parts assembly".

With an eye on ECB policies, the US Dollar Index defends its recovery from a two-week low of 107.00

Daniel Rogers

Jul 21, 2022 11:40

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After recovering from a two-week low the previous day, the US Dollar Index (DXY) hovers at 107.05. In doing so, the dollar index reflects market trepidation before to a major monetary policy meeting of the European Central Bank (ECB). The day before yesterday, the DXY had its first daily rise in four days.

 

Market concerns about a European recession and strong inflation data from the UK and Canada may be to blame for the DXY's increase. The demand for safe haven assets such as the US dollar increased as a result of Sino-American tensions and China's covid problems.

 

Vladimir Putin, the president of Russia, reportedly said that it is unclear in what shape the Nord Stream 1 machinery would be returned after maintenance. According to Reuters, Ursula von der Leyen, president of the European Commission, said on Wednesday that a total suspension of Russian gas was a viable possibility. It should be highlighted that concerns over gas prices may have caused the International Monetary Fund (IMF) to decrease its growth forecasts for Germany. Because of this, the IMF projected Germany's growth to be 1.2 percent in 2002 and 0.8 percent in 2023. In a previous forecast, the IMF predicted that the German economy would grow by 2% per year. Along with the IMF, the Asian Development Bank (ADB) has lowered its forecast for growth in developing Asia from 5.2 percent to 4.6 percent for 2022.

 

Political worries in Italy also foreshadowed further misery for the EU and the markets. Consequently, Prime Minister Mario Draghi received a vote of confidence; but, because the vote was boycotted by the three major cotillion parties, Mr. Draghi may resign and call for early elections.

 

Wall Street ended the day with smaller gains in line with the mood, as the US 10-year Treasury yield halted rising after a two-day rise at about 3.03 percent. As a result, as of the time of publication, intraday S&P 500 Futures were down 0.25 percent at 3,952.

 

Moving forward, DXY traders can find some fun in the US Weekly Jobless Claims and July Philadelphia Fed Manufacturing Survey. However, as markets expect a greater rate hike than the 0.25 percent increase proposed the day before, the ECB's decision will draw a lot of attention. Therefore, in order to prevent the US currency from continuing its current recovery, ECB officials must not only announce the 25 basis point rate increase but also take further steps to win back the confidence of Euro bulls.


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