The results of a topographical research carried out in the northwestern territory Abella’s "agro" show the type of population during the first century AD, the distribution of productive settlements in its "agro". While a first revision of the archaeological data deriving from the ancient Abella’s city seems to mark, despite the epigraphic documentation, a lack of historical evidence of the first imperial age, apparently the topographical data collected in the countryside do not seem to suggest the abandonment of the productive sites between the 1st century BC and the early Augustan age, but rather their vitality and persistence over time. Some archaeological data seem to demonstrate not only the continuation of production on the sites, but also a renovation activity of the buildings following the earthquake of 62 AD and of the eruption of 79 AD which certainly struck the territories of Abella as documented epigraphically in the nearby town of Nola.
Paola Carfora
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SHANGHAI, Dec 6 (Reuters) - The yuan was little changed on Friday against the dollar,
but is headed for its tenth straight weekly loss amid concerns that new tariff threatened by President-elect Donald Trump will heighten strains on the struggling
Chinese economy.
Analysts expect the dollar to remain firm as Trump's policies are expected to drive
up U.S. inflation, but they believe Beijing will prevent the yuan from falling too much.
"We anticipate some depreciation pressure in an expected strong dollar environment," Lynn Song,
Greater China chief economist at ING, said in a note.
However, "we don't expect an intentional large-scale depreciation and think the yuan will remain a low-volatility currency vis-à-vis most other Asian currencies." The yuan was changing hands at 7.2549 per dollar around
midday, little moved from the previous close.
Although the currency has rebounded from a one-year low of 7.2996 hit on Tuesday, it is poised to register
its longest weekly losing streak since 2018. The dollar index fell
to one-week low overnight and "the USD's consolidation should unwind the upside pressure building" in the yuan, aided by
ongoing attempts by China's central bank to restrain its
decline, said Alvin Tan, strategist at RBC Capital Markets.
Recent data has painted a mixed picture of China's economic recovery, with manufacturing activities
improving, but property sales in many Chinese cities remaining weak.
China's "economic landscape is unarguably dull, and the absence of excitement is perhaps the most salient feature," said John Browning, managing director of BANDS Financial.
He doesn't expect huge stimulus to be announced during next week's Central Economic
Work Conference, as "Beijing's largesse will be reserved until after Trump is restored to the White House and the trade war formally begins."
Top policymakers will gather at the conference to agree on major economic goals for next year.
But the target for 2025 growth, one of the most closely-watched indicators globally for clues of Beijing's near-term policy intentions,
likely will not be officially announced until an annual parliament meeting in March.
During Trump's first term as president, the yuan weakened about 5% against the
dollar after the initial round of U.S.
tariffs on Chinese goods in 2018, and fell another 1.5% a year later when trade tensions escalated.
Growth worries and expectations of further monetary easing by Beijing pushed
China's 10-year treasury yields below 2% to record lows this
week, worsening the yield disadvantage against the U.S., and exerting downward pressure on the yuan. ING's Song expects the
onshore yuan to move within a band between 7.00-7.40
per dollar, but could fall further to 7.50 "if tariffs come in earlier or more aggressive than our forecasts." LEVELS AT 03:47 GMT GMT INSTRUME CURRENT UP/DOWN( % CHANGE DAY'S DAY'S LOW NT vs
USD -) VS.
YR-TO-DATE HIGH PREVIOUS CLOSE % Spot 7.255 0.09 -2.11
7.2518 7.2675 yuan CNY=CFX S Offshore 7.2615 0.03 -1.87 7.2574 7.2733
yuan spot (Reporting by Shanghai newsroom; Editing by Kim Coghill)
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