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August 29th - The 2026 China International Big Data Industry Expo (Big Data Expo) is currently being held in Guiyang, Guizhou. Today, a representative from the National Data Administration stated at the "Data and Computing Integration Driving the Future" exchange event that the computing power network, water network, new power grid, next-generation communication network, urban underground pipe network, and logistics network form a deeply coupled, mutually empowering, and collaboratively supporting organic whole. It was explained that the computing power network, acting as the "brain," assists in the intelligent scheduling of new power grids and the consumption of new energy; collaborates with the next-generation communication network to promote data flow, model training, and application innovation; empowers water networks to achieve accurate forecasting of watershed water conditions and dynamic allocation of water resources; supports urban underground pipe networks to drive real-time monitoring, risk warning, and emergency response for lifeline projects such as gas, drainage, and heating; and connects with the logistics network to promote cost reduction and efficiency improvement across the entire supply chain. The latest data released at the conference shows that as of the end of July, the total scale of intelligent computing nationwide reached 2.45 million PFLOPS (FP16), and the eight national computing power hubs and three computing-electricity collaborative development zones have built intelligent computing scales, accounting for over 85% of the national total.August 29th – The 2026 China International Big Data Industry Expo is being held in Guiyang, Guizhou. Today, an official from the National Data Administration stated at the expo that the rapid application of big data models across various industries is driving a rapid increase in the volume of word token calls in my country, resulting in explosive market demand. Liu Liehong, Director of the National Data Administration, stated at a word token-themed exchange activity that the stronger the models comprehensive capabilities, the higher the efficiency of word token production, and the better the logic, accuracy, and quality of the output content. Word tokens provide an important benchmark for the measurement, pricing, transaction, and settlement of artificial intelligence services. Currently, the word token industry chain has gathered diverse entities such as computing power leasing companies, model manufacturers, data service providers, and professional technical service institutions, and different types of "word token factories" have evolved in practice.The Iranian government stated that it is committed to resolutely resisting US sanctions, and that diplomacy and defense are "complementary and inseparable."Nepals Finance Minister: Nepal needs $4 billion to $5 billion for disaster reconstruction.August 29th - Although Typhoon Saudel, the 18th typhoon of the year, has weakened into a tropical depression, its impact continues. Currently, the center of the weakened tropical depression is located in Jiangxi Province. Today, parts of northern, central, and southern Jiangxi will experience heavy rain, with some areas experiencing torrential rain. At the same time, winds will increase across the province. The Central Meteorological Observatory continued to issue a yellow alert for heavy rain at 10:00 AM on August 29th: It is expected that from 2:00 PM on August 29th to 2:00 PM on August 30th, parts of northeastern Inner Mongolia, western and northern Heilongjiang, central and northern Anhui, northern Jiangsu, eastern and southern Hunan, western and southern Jiangxi, southwestern Yunnan, northeastern Guangxi, northwestern and southern coastal Guangdong, western Hainan Island, eastern Taiwan Island, and eastern Sichuan Basin will experience heavy to torrential rain. Among these areas, parts of northern Anhui, northern Jiangsu, southern Hunan, and northeastern Guangxi will experience torrential rain, with some areas in southern Hunan experiencing extremely heavy rain (250-270 mm). The aforementioned areas will experience short-term heavy rainfall (maximum hourly rainfall of 20-50 mm, locally exceeding 70 mm), and some areas will experience severe convective weather such as thunderstorms and strong winds.

AUD/USD falls to approximately 0.67 as a result of less hawkish RBA minutes

Daniel Rogers

Mar 21, 2023 14:05

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As a result of the publication of minutes from the Reserve Bank of Australia (RBA) that were less hawkish, the AUD/USD pair has declined to near 0.6705. Given that inflation was still too high, the labor market was constrained, and business surveys indicated robust activity, the Board reaffirmed that additional policy tightening would likely be required. The RBA policymakers viewed a 25 basis point (bps) rate increase as the only viable option for March's monetary policy.

 

Investors should be aware that RBA Governor Philip Lowe raised the Official Cash Rate by 25 basis points to 3.60 percent for the fifth consecutive time. In addition, it was the RBA's eleventh consecutive increase in interest rates to combat persistent inflation.

 

Recent optimistic Australian employment data indicate that the fight against persistent inflation is extremely complicated and that RBA policymakers are still required to make challenging decisions in times of inflation uncertainty and global banking collapse concerns.

 

In the Asian session, S&P500 futures have extended Monday's gains as investors disregard concerns over the Federal Reserve's (Fed) impending monetary policy, indicating a further improvement in market participants' risk appetite.

 

The US Dollar Index (DXY) has remained relatively stable around 103.30 as investors anticipate a less hawkish monetary policy and interest rate guidance. Fed Chair Jerome Powell is required to restore investor confidence following the failure of three midsize commercial banks in the United States. This could be accomplished through minor adjustments to interest rate policy.

 

In the interim, the demand for U.S. government bonds has weakened further as inflation expectations have risen as a result of the collaborative effort of various central banks to support commercial banks by providing liquidity assistance in the form of US dollars. This has led to higher yields on US Treasury bonds. The yield on the 10-year Treasury note has risen to 3.5%.


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