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On June 12th, NIO founder and chairman William Li stated that reducing the weight of new energy vehicles has significant user value, but achieving this goal is not easy. He believes that lightweighting is a comprehensive result of cost, technology, engineering, and product definition. According to Lis calculations, after the basic vehicle definition is completed and the final sprint towards lightweighting begins, it costs approximately 1,000 yuan per kilogram to reduce weight. He said that reducing weight from 2 tons to 1.9 tons is relatively easy, but continuing to reduce weight from 1.9 tons will result in increasingly higher costs per kilogram.ECB Governing Council member Machrouf: We need to address inflation in advance.June 12th Futures News: On June 12th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 236,681 tons, an increase of 872 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 1,557 tons, an increase of 600 tons compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,640 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 3,116 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 95,070 tons, a decrease of 1,150 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.ECB Governing Council member Koch said that raising interest rates will help stabilize the situation, and inflation should not be expected to reach the levels of 2022 and 2023. The key is that price shocks will not lead to a market deadlock. The ECB will take decisive measures to ensure that the medium-term inflation rate falls to 2%.The German DAX 30 index opened 372.79 points higher, or 1.54%, at 24,582.68 on Friday, June 12; the UK FTSE 100 index opened 71.37 points higher, or 0.69%, at 10,375.25; and the French CAC 40 index opened 110.87 points higher, or 1.35%, at 8,311.67. The Stoxx 50 index opened 89.39 points higher, or 1.48%, at 6146.35 on Friday, June 12; the Spanish IBEX 35 index opened 307.60 points higher, or 1.68%, at 18597.70 on Friday, June 12; and the Italian FTSE MIB index opened 638.76 points higher, or 1.26%, at 51143.50 on Friday, June 12.

GBP/JPY Price Analysis: Rejects 200-Day Moving Average, falls to 161.20s

Alina Haynes

Feb 16, 2023 15:01

After reaching weekly highs of 161.46, GBP/JPY declines below 161.30 during Thursday's Asian-Pacific session. GBP/JPY is bullish until it breaches significant support levels. GBP/JPY is currently trading at 161.27, 0.05 percent below its initial price.

 

The daily chart for GBP/JPY is neutral, although a climb at 161.81 would trigger the 200-day Exponential Moving Average (EMA). Before 162.00, resistance and the 100-day EMA at 161.98 must be broken. Before the daily high of 167.02 on the 20th of December, GBP/JPY would rise to 163.00.

 

The 1-hour chart for GBP/JPY displays a bearish flag with a neutral bias. The Relative Strength Index (RSI) became negative, and the Rate of Change (RoC) indicated a decline in purchasing pressure.

 

GBP/JPY is decreasing. The 50-EMA at 161.04 is the initial demand level to examine. GBP/JPY would fall to 160.72 if it breached the previous level. Once cleared, the GBP/JPY exchange rate would move toward the 100-EMA at 161.49, preceding the 200-EMA. At 159.95.