EUR/USD
1.16446
-0.125%
Gold
4476.57
-0.030%
Oil
57.947
-0.520%
USD/JPY
157.645
0.501%
GBP/USD
1.34131
-0.202%
GBP/JPY
211.453
0.311%
Real-time News
January 9th - UK government bonds surged at the start of the year as the British government reduced long-term borrowing and weak inflation fueled market bets on a Bank of England rate cut. UK bonds rose across the board, with 10-year bonds poised for their biggest weekly gain since October, significantly outperforming less volatile German and US bonds. Craig Inches, head of rates and cash at Royal London Asset Management, said the prospect of a rate cut, coupled with reduced sales of long-term bonds, made UK bonds "very cheap" compared to similar assets. He stated, "UK bonds are an excellent place to put your money." The money market currently estimates a near 90% probability of another 25-basis-point rate cut by the Bank of England in April. The probability of a second rate cut by December has risen from less than 50% two weeks ago to 70%. He added, "We believe the Bank of England will have to cut rates again in February, which, combined with supply shortages, will lead to lower yields, a flattening yield curve, and allow UK bonds to outperform their global counterparts."Italys retail sales rose 1.3% year-on-year in November, up from 1.30% in the previous month.Italys seasonally adjusted retail sales rose 0.5% month-on-month in November, compared with 0.50% in the previous month.January 9th - Analysts point out that US job growth may slow in December due to companies remaining cautious about hiring amid import tariffs and increased investment in artificial intelligence. However, the unemployment rate is expected to fall to 4.5%, which could support market expectations that the Federal Reserve will keep interest rates unchanged this month. The non-farm payroll report, expected to be released tonight, is anticipated to show that the US labor market remains in what economists and policymakers call a "no hiring, no laying off" mode. This would also confirm that the US economy is in a phase of jobless expansion. In the third quarter of last year, economic growth and worker productivity surged, partly attributed to a surge in AI spending. Sal Guatieri, senior economist at BMO Capital Markets, stated, "This isnt entirely due to weak demand, as the economy appears to be performing well, but companies are very cautious about hiring new employees. This could be related to a willingness to control costs, perhaps due to tariff pressures, or perhaps because many companies believe that AI-driven automation will lead to productivity gains."On January 9th, Zhu Meina, Deputy Director of the Standards and Technology Department of the State Administration for Market Regulation, introduced at a special press conference of the State Administration for Market Regulation that the next step for the State Administration for Market Regulation will be to further accelerate the development of national standards related to the new energy vehicle, lithium battery, and photovoltaic industries. At the same time, in conjunction with the Ministry of Industry and Information Technology, on-site promotion meetings for standards will be held to help the industry accurately grasp the content of the standards, implement and apply the standards in a timely manner, and promote the rapid implementation and effectiveness of the standards, so as to lead and drive the high-quality development of the "new three products" through standards.
