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On February 24, the article stated that innovation is endless and policy support also needs to be continuously optimized. There is still room for improvement in the intensity and efficiency of fiscal and taxation forces to support scientific and technological innovation. In terms of intensity, we will coordinate financial resources, increase investment in science and technology, further focus on basic research and national strategic scientific and technological tasks, and fully support the key core technology research. In terms of efficiency, we will deepen the reform of the mechanism for the allocation and use of fiscal science and technology funds, improve the performance of fund use, and give full play to the leverage effect of fiscal funds. Research and improve the structural tax reduction and fee reduction policies that focus on supporting scientific and technological innovation and the development of the manufacturing industry, study the tax system that is compatible with the new business format, promote policies that are more in line with the demands of the market and enterprises, improve the accuracy of policies, promote the direct and quick enjoyment of policy dividends, and help enterprises innovate and develop.According to German news today: Lindner, chairman of the German Free Democratic Party, announced his withdrawal from politics.Ukrainian President Volodymyr Zelensky congratulated the CDU/CSU and Merz on their victory in the German Bundestag election.On February 24, the leaders of the 27 EU countries will hold an emergency summit on March 6 to discuss the Ukraine issue and the next steps regarding European security. European Council President Costa announced on Sunday that he would hold the summit in Brussels. Costa posted on social media: "We are at a decisive moment for Ukraine and European security." European Commission President von der Leyen and other members of the EU executive will visit Kiev on Monday to express support for Ukraine on the third anniversary of the outbreak of the Russian-Ukrainian conflict.February 24th news, on the evening of the 23rd local time, the chairman of the German Free Democratic Party, Lindner, announced that if the party ultimately fails to enter the Bundestag because it receives less than 5% of the votes, he will withdraw from politics.

At 1.2100, Bulls in the GBP/USD Market Are Challenging Bear Commitments

Alina Haynes

Mar 13, 2023 11:48

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GBP / USD is 0.33 percent higher after the pair rose from a low of 1.2063 to a high of 1.2103, its largest gain since January 6 as the US Dollar largely weakens following Friday's US employment report.

 

The markets have reduced their bets that the Federal Reserve will raise interest rates as aggressively despite the rise in the unemployment rate and signs of wage inflation moderating. The United States added 311,000 positions in February and the unemployment rate increased to 3.6%. Reuters polled economists, who predicted that the United States would have added 205,000 jobs last month and that the unemployment rate would remain unchanged at 3.4%. After gaining 0.3% in January, average hourly earnings increased 0.2% in February, which was less than the 0.3% increase anticipated.

 

In addition, the United Kingdom's economy grew faster than expected in January, easing concerns about a recession. Following a 0.5% decline in December, the Office for National Statistics (ONS) reported that the British economy grew 0.3% month-over-month in January. A survey of economists conducted by Reuters indicated growth of 0.1%.

 

The bankruptcy of SVB Financial Group is the largest bank failure since the financial crisis. However, the Biden administration guaranteed on Sunday that all Silicon Valley Bank customers will have access to their funds on Monday. Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, and FDIC Chairman Martin J. Gruenberg announced in a joint statement on Sunday that the FDIC will compensate SVB and Signature's customers in full.

 

The imminent schedule is jam-packed with US consumer Price Index and UK labor market data. As official data continues to catch up to high-frequency indicators, analysts at TD Securities anticipate that the labor market will deteriorate in January, with the unemployment rate increasing and wage growth diminishing. Following last month's upside surprise, the Bank of England will be particularly pleased to see wage growth slow. The release of the US CPI later in the day may result in a muted market reaction, barring a significant surprise.

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