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On October 23, the "Opinions on Adapting to the Development of Artificial Intelligence Technology and Helping to Build an Employment-Friendly Development Mode" pointed out that, focusing on the cultivation and large-scale application of artificial intelligence scenarios, it is necessary to accelerate the development of new occupations and the release of new occupational standards, and expand the demand for new occupations and new job types such as digital management specialists, artificial intelligence engineering technicians, and artificial intelligence trainers. Local governments are encouraged to add relevant professional title evaluation categories based on the needs of the artificial intelligence industry development and to promptly carry out the certification of artificial intelligence-related vocational skill levels.On October 23, the "Opinions on Adapting to the Development of Artificial Intelligence Technology to Help Build an Employment-Friendly Development Mode" pointed out the need to cultivate new drivers for stabilizing and expanding employment in small and medium-sized enterprises (SMEs). It calls for implementing an AI-driven SME entrepreneurship support plan, leveraging the open-source ecosystem to promote innovation and entrepreneurship among SMEs. The document also emphasizes strengthening the supply of public services for digital transformation, encouraging the development of "small, fast, lightweight, and accurate" digital products and solutions, ensuring SMEs and individual businesses have equal access to data, algorithms, and other intelligent production factors, supporting SMEs in exploring low-cost, lightweight intelligent upgrading paths, further lowering the barriers to AI application, and enhancing their ability to absorb employment.According to US media Semafor, Elon Musks proposed merger between SpaceX (SPCX.O) and Tesla may face antitrust scrutiny.Hong Kong Stock Exchange: This measure aims to assess the performance of 40 Hong Kong-listed companies that are deeply involved in the artificial intelligence industry value chain.October 23 – Eurozone household inflation expectations rose slightly in September, supporting expectations that the European Central Bank (ECB) will continue to raise borrowing costs. The ECBs monthly survey released Friday showed that consumer prices are expected to rise 3.1% over the next year, up from 3% in August. The three-year inflation indicator, crucial for monetary policy, remains unchanged at 2.9%, while the five-year inflation indicator also remains unchanged at 2.5%. Markets widely expect the ECB to keep interest rates unchanged next week, but economists surveyed by Bloomberg believe a third and final rate hike is likely in December. Although inflation is near 4%, double the ECBs target, it is primarily driven by rising energy prices, and officials say they have not seen second-round effects, such as wage increases.

WTI Price Analysis: Divergence in Action, More Downside Below $92

Alina Haynes

Aug 26, 2022 15:04

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West Texas Intermediate (WTI) futures on NYMEX posted a three-day low of $92.16 in the Asian session. The asset has risen since Friday's opening bell, but bearish pressure remains strong after a juggernaut rally.

 

The recent rally has peaked, and a correction is underway. On an hourly basis, the asset made higher highs with a fall in purchasing interest, although RSI (14) formed lower highs. This reduces upside momentum since investors view the asset as costly.

 

A bear cross at $93.73 between the 20- and 50-period EMAs suggests a sharp correction.

 

Should the asset drop below $92.00, bears will strengthen and take it to August 22's high of $90.98, then August 17's high of $88.65.

 

If the asset surpasses $95.10, bulls could regain control. A repeat will push the asset to July 26's high of $98.4 and psychological resistance at $100.00.