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On August 29th, at a thematic exchange event during the 2026 China International Big Data Industry Expo, an official from the National Data Administration stated that as of the end of July 2026, the total scale of intelligent computing nationwide reached 2.45 million PFLOPS (FP16). The eight national computing power hubs and three computing-power collaborative development zones have built up over 85% of the nations intelligent computing capacity. 1.45 million PFLOPS of intelligent computing power have been included in the monitoring scope of the national-level monitoring and scheduling platform, and the ability to intensively utilize computing resources and conduct integrated scheduling is continuously improving. Going forward, the National Data Administration will continue to optimize computing power layout to enhance supply capacity, strengthen monitoring and scheduling to improve utilization efficiency, deepen computing-power collaboration, cultivate the industrial ecosystem, and comprehensively promote the high-quality development of computing power.On August 29th, at the 2026 China International Big Data Industry Expo, "data annotation" became a hot topic. Data annotation involves accurately "labeling" raw data such as text, images, and audio, enabling AI to understand and recognize the real world. This work is a key link in bridging human intelligence and machine intelligence. At the forum, many attendees stated that artificial intelligence is currently at a critical stage of transitioning from technological breakthroughs to system implementation, and data annotation, as a crucial foundation for AI development, is experiencing exponential growth in demand. Faced with the increasing demand for high-quality data elements, Guizhou Province has, in recent years, made data annotation and data collection a new driving force and key industry for the development of the digital economy, introducing and cultivating a large number of data companies and related practitioners. Currently, the province has 135 data annotation companies and over 16,000 people engaged in data annotation.August 29th - According to the German business daily Handelsblatt, Volkswagen plans to limit its investment to around €135 billion (approximately $156 billion) over the next five years. Facing pressure to accelerate cost savings, Volkswagen is scaling back its spending plans. The latest investment plan will be lower than the €160 billion spending budget set last year to reach 2030. Tightening investment is part of a broader cost-cutting measure by Volkswagen to address weak demand and increased competition. Management is seeking to reduce excess capacity and structural costs, including further layoffs and potentially even the closure of plants in Germany.On August 29, Kremlin spokesman Dmitry Peskov said on Saturday that Europe is making statements that indicate it views Russia as an "adversary or even an enemy." Moscow believes there is no prospect of improved relations between Russia and the EU. It is unclear which specific statements Peskov was referring to. He added that current EU politicians are taking a confrontational stance towards Russia "not only in words but also in actions." Peskov said, "They are mobilizing European military capabilities and using them against our country, while also directly engaging in hostile actions against us."On August 29th, according to Ukrainian media reports on the 28th, Ukrainian President Zelenskyy convened a meeting of the Supreme Command to discuss weapons supply issues, setting a target of using 1,000 drones daily to conduct long-range strikes against Russia. Zelenskyy said that Ukraine currently conducts an average of more than 300 long-range strikes against Russia every day, but "there should be more." Zelenskyy also said that the production of interceptors to defend against Russian drones should be accelerated.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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