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On September 12th, He Baohong, Chief Engineer of the China Academy of Information and Communications Technology (CAICT), stated at the 2026 China Computing Power Conference that the development of comprehensive computing power should revolve around differentiated layout, software and hardware industry systems, low-carbon computing power infrastructure, and a nationally integrated institutional system, driving the shift in computing power construction from scale expansion to quality and efficiency improvement. Regarding regional policy implementation, advantageous regions should focus on both improving existing capacity and addressing rigid demand gaps, deeply cultivating high-value-added scenarios; growing regions should strengthen regional computing power hubs, using industry applications to drive upgrades in storage, computing, and network infrastructure; resource-rich regions should undertake non-real-time businesses such as training and cold data, supplementing their external transportation networks and industrial ecosystems. In terms of extending and strengthening the industrial chain, it is recommended that newly built intelligent computing centers be equipped with storage and networks simultaneously, improving the entire chain of chips, servers, databases, and models, using real business needs to drive the construction of computing power, storage, and transportation capacity. Regarding green empowerment and unified management, it is recommended to promote liquid cooling, energy-saving renovations, and computing-electricity synergy, improve clean energy consumption, and improve pricing, trading, value accounting, and compliance supervision systems.September 12th - Following the Houthi rebels capture of the key Red Sea town of Muha, the number of ships passing through the Bab el-Mandeb Strait on the 10th plummeted to single digits. Data shows that as of approximately 3 PM local time on the 10th, only six ships had passed through the strait that day, compared to 30 on the 9th, 26 on the 8th, and 29 on the 7th. The report stated that of the ships that passed through on the 10th, five carrying grain, crude oil, coal, and fertilizer left the strait, while another ship entered. The Bab el-Mandeb Strait connects the Red Sea and the Gulf of Aden and is a vital shipping route in the Middle East, handling approximately 12% of the worlds goods.September 12th - According to Canadian media reports on September 11th, Dominic LeBlanc, Canadas Minister for Canada-US Trade, stated at a cabinet meeting that there are currently no formal trade negotiations arranged between Canada and the United States, but he remains in contact with US Trade Representative Greer and US Commerce Secretary Howard Lutnick. LeBlanc said the escalating trade dispute between Canada and the United States remains a key issue for the government. The Canadian government must prepare for potential trade agreements, and any agreement must respect Canadian sovereignty and be in the national interest.On September 12, Sun Lei, Chargé dAffaires ad interim of the Permanent Mission of China to the United Nations, spoke at a high-level discussion during the UN South-South Cooperation Day commemoration on September 11, calling for deeper South-South cooperation. Sun Lei stated that China supports the statement made by Uruguay on behalf of the "Group of 77 and China" and appreciates the efforts made by the UN Office for South-South Cooperation to promote development in the Global South. Southern countries face the common task of achieving economic and social development and should adhere to the principles of independence, equality, and mutual benefit, leveraging the advantages of South-South cooperation in capacity building and knowledge sharing to form a synergy for development. China has always been a member of the Global South and welcomes the continuous enrichment of South-South cooperation mechanisms and platforms. China expects relevant cooperation to continue to be led by developing countries and demand-oriented, achieving practical results.On September 12, officials from the U.S. engineers union stated that Boeing (BA.N) and its union reached a provisional contract agreement on Friday. This four-year proposal includes a higher general wage increase than the first proposed plan. The first plan was overwhelmingly rejected by members of the Society of Professional Engineers in Aerospace Engineering (SPEEA) in a vote on August 21. If approved, approximately 17,000 members in SPEEAs professional and technical divisions would receive a 10% pay rise on October 16, followed by a 4% annual increase between 2027 and 2030, plus performance-based increases. Ben Nimgurt, Boeings vice president of production engineering and chief competency engineer, stated in a statement, "Our final contract addresses the primary concerns raised by employees and the SPEEA negotiating team, including immediate pay rises and a larger, guaranteed pay pool." According to the union, the latest proposal also includes adjustments to remote work policies and overtime restrictions for professional division members.

The USD/CHF exchange rate fluctuates at 0.94 prior to US five-year inflation projections

Alina Haynes

Dec 08, 2022 15:27

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During the Tokyo session, the USD/CHF pair is oscillating near the round-level barrier of 0.9400 as investors await the release of the United States' five-year consumer inflation forecasts for more direction. The Swiss franc is attempting to surpass the immediate resistance level of 0.9410, but the risk-on mentality stops the US Dollar from advancing further.

 

In the framework of the risk appetite theme, the US Dollar Index (DXY) is hitting resistance close to the significant level of 105.20. In the meantime, 10-year US Treasury yields have attempted to recover after falling to approximately 3.40 percent on Wednesday. The yield on long-term US Treasury bonds has rebounded to approximately 3.45%.

 

The growing unpredictability around the Federal Reserve's (Fed) policy outlook has caused market participants to feel anxious. As a result of favorable U.S. economic data, investors anticipate future rate hikes from the Federal Reserve to combat rising inflationary pressures. Moreover, it will compel a recession, as businesses will lower or maintain their current level of economic activity in response to rising interest liabilities.

 

At a Goldman Sachs financial conference, Bank of America (BoA) CEO Brian Moynihan informed investors that the United States economy will see "moderate contraction" in the first quarter of 2023.

 

Friday's release of US Consumer Inflation Expectations for the Next Five Years will continue to be closely monitored by investors.

 

Regarding the Swiss franc, investors are shifting their focus to the Swiss National Bank's (SNB) interest rate announcement scheduled for next week. As inflationary pressures are moderately over the target rate, it is predicted that SNB Chairman Thomas J. Jordan would continue to loosen monetary policy. This week, the Swiss Unemployment Rate fell to 2.1%, which is lower than the previous data of 2.0% and the consensus estimate of 2.2%.