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July 18th - The 2026 World Artificial Intelligence Conference opened yesterday (July 17th) in Shanghai. At the sub-forum on "Artificial Intelligence and Energy: Two-Way Empowerment," an official from the National Energy Administration revealed that my country will accelerate the construction of a new energy system to provide a green foundation for the development of artificial intelligence. It is understood that during the "15th Five-Year Plan" period, inference load will exceed the previous training load, becoming the main consumption of computing power. The characteristics of latency sensitivity, large load fluctuations, and concentrated demand require that computing power collaboration shift from "spatial collaboration" to "multi-dimensional collaboration" between computing power load and the new power system. This necessitates the integrated layout of core elements such as intelligent computing power, large models, and corpus resources. Wang Hongzhi, Secretary of the Party Group and Director of the National Energy Administration, stated that nearly four out of every ten kilowatt-hours of electricity consumed in the whole society is green electricity. Sufficient and high-quality green electricity supply will promote green computing power from concept to practice, from the laboratory to application scenarios, ensuring that every kilowatt-hour of electricity is used to its fullest potential and that every token is associated with green development.1. The EU imposes sanctions on one Russian individual and five entities. 2. Ukrainian President Zelenskyy: Discussed the appointment of an acting defense minister with the new prime minister. 3. The commander of the Ukrainian drone force stated that Ukrainian drones have struck 12 Russian ships in the Black Sea. 4. The Ukrainian Port Authority: Russia attacked Ukrainian ports 23 times in the first two weeks of July. 5. Naftogaz: A Russian drone attack caused a gas production facility in Kharkiv Oblast to shut down. 6. The Russian Ministry of Defense: Russian forces struck 24 Ukrainian military vessels in the past week. 7. Ukrainian President Zelenskyy: Ukraine destroyed a Russian Tu-95 military aircraft at Engels Air Base.According to Iranian media reports, an explosion was heard in the Khorramabad region.US military: The US military has ended its seventh consecutive night of strikes against Iran.According to the Iranian news agency IRNA, Arab media reported that Iranian missiles successfully penetrated Jordans air defense system, claiming that the Patriot missile defense system failed to intercept them effectively.

Despite the fact that Eurozone interest rates are anticipated to peak sooner, the EUR/GBP looks to have breached over 0.8630

Daniel Rogers

Dec 07, 2022 15:12

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The EUR/GBP pair has had a stronger recovery from 0.8580 during the Asian session, approaching the pivotal 0.8630 level. Despite the European Central Bank (ECB) being close to reaching an interest rate high, there has been strong demand for Euro bulls. Thus, the monetary policy meeting scheduled for next week will be of utmost significance.

 

The cross is attempting to break strongly above the significant barrier of 0.8630 for the fourth time this week. The hawkish remarks made by ECB policymakers are holding back the euro bulls.

 

"There will be another rate hike," said Constantinos Herodotou, governor of the Central Bank of Cyprus, "but we are very near to neutral." The European Central Bank's chief economist, Phillip Lane, is unsure as to whether the inflation peak has already occurred or will take place in 2019. He stated that although "much has already been done," he does not rule out more rate increases.

 

Investors are currently looking forward to Christine Lagarde's speech, which will be revealed on Thursday. The ECB President is likely to lower her inflation projection in her future statement in light of the poor retail sales numbers.

 

In contrast to expectations for a 1.7% loss, this week's Eurozone retail sales numbers showed a 1.8% decline. Aside from that, annual economic data contraction came in at 2.7% as opposed to the 2.6% consensus expectation. A decline in household demand demonstrates the effectiveness of the European Central Bank's (ECB) policy tightening initiatives. To reach their sales targets, firms could feel pressured to lower the prices of their products and services.

 

The United Kingdom's deteriorating food crisis, brought on by growing costs and a labor shortfall, has had an impact on the Pound Sterling. According to Minette Batters, president of the National Farmers Union, "the government and the entire supply chain must act swiftly." The Financial Times stated that "tomorrow might be too late." The economy already faces rising food inflation, and the issue with the supply of food will make matters worse.


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