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ASML CFO: The number of high numerical aperture devices shipped globally is only in the single digits, a low level.ASML CFO: The updated financial guidance has taken into account Musks need for TeraFab.On July 15th, Tencent Cloud announced that, to ensure the stability of its MySQL cloud database service, prevent long-term overuse of storage space by local disk instances from impacting resource security, and maintain fairness in resource usage, Tencent Cloud will begin charging for overused storage space on local disk instances of its MySQL cloud database service, starting from 00:00:00 on August 1, 2026 (Beijing time). Overuse of storage space occurring before this date will not be retroactively charged.On July 15th, Zou Lan, spokesperson and vice governor of the Peoples Bank of China (PBOC), stated at a press conference held by the State Council Information Office that the PBOCs various tools effectively offset the RMB 1 trillion liquidity gap caused by factors such as reserve requirement payments and cash injections in the first half of the year. The average overnight money market rate (DR001) for the first six months was 1.31%, indicating overall stable operation. Zou Lan also mentioned that to better meet the short-term liquidity management needs of the banking system and enhance the precision and effectiveness of monetary policy interest rate control, at the end of June, the PBOC added overnight reverse repurchase operations to its open market operations, further enriching its toolbox, and narrowed the range of interest rates for temporary repurchase operations from 70 basis points to 50 basis points. In addition, the PBOC created a repurchase tool for overseas central banks to facilitate RMB liquidity management and RMB bond asset allocation for overseas central banks and similar institutions; the first operation has recently been completed.On July 15th, European Central Bank (ECB) Governing Council member Jean-Claude Nagel stated that the ECB is closely monitoring energy price movements following the renewed escalation of the Middle East conflict and increased geopolitical uncertainty. He noted that the past few weeks have been "full of hope and disappointment." The renewed conflict between the US and Iran underscores the continued instability of the current situation. Nagel stated, "Energy price movements are a key factor in determining the future inflation outlook. Monetary policy will remain highly vigilant." The ECB will hold its policy meeting on July 22nd and 23rd, and will soon enter a pre-meeting quiet period. The market widely expects the bank to maintain interest rates unchanged. However, investors still anticipate policymakers will raise rates again later this year to curb inflationary pressures stemming from the Iranian conflict. Nagel emphasized that borrowing costs are currently at an "appropriate" level following the policy decision made in June. He said, "From a monetary policy perspective, continuing to act cautiously remains prudent, but decisive action will be taken if necessary."

EURGBP declines toward 0.87 due to Russia-Poland tensions, while investors await the UK Autumn Statement/CPI

Daniel Rogers

Nov 16, 2022 14:59

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Early in Tokyo, the EURGBP pair wavered between 0.8720 and 0.8740 after falling perpendicularly from the round-level resistance of 0.8800. In the context of escalating global tensions, it is projected that the cross will resume its downturn and may find support near 0.8700.

 

After wreaking havoc in Ukraine, Russia has increased its military operations against NATO member Poland, lowering investor sentiment in the Eurozone. The upshot of Poland's hosting a meeting of NATO ambassadors will provide increased impetus for investors to engage in more activity. An escalation of geopolitical tensions may exacerbate supply chain issues within the trading bloc.

 

The primary focus will be on the speech of Christine Lagarde, president of the European Central Bank (ECB). It is anticipated that the President of the European Central Bank (ECB) will provide hints regarding future monetary policy actions. In addition, inflationary pressure guidance will be of the utmost importance.

 

On the British front, the release of inflation data and the first Autumn Statement under Prime Minister Rishi Sunak and Chancellor Jeremy Hunt will be key.

 

The headline Consumer Price Index (CPI) is much higher at 10.7% compared to 10.1% in the previous edition. While the core CPI, which excludes the cost of oil and food, may decline slightly to 6.4% compared to the prior estimate of 6.5%, this decrease is unlikely to be significant.

 

To bridge the £60 billion budget imbalance, investors will focus on the proportion of tax hikes to spending cuts in the Autumn Budget. Sky News was briefed by Treasury officials that the "black hole" may be as large as £60 billion, demanding up to £35 billion in spending cuts and an additional £25 billion in tax income. Moreover, the energy bill cap will be quite relevant.


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