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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

EUR/GBP increases from 0.8620 prior to German Retail Sales

Alina Haynes

Dec 01, 2022 15:16

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After falling to roughly 0.8620 during the Asian session, the EUR/GBP pair has attracted buyers. In spite of a decline in the Eurozone Harmonized Index of Consumer Prices, the asset has traded in a tight range between 0.8620 and 0.8660 during the past three days. A cross recovery maneuver is presently weak and requires further filters to become stronger.

 

The headline Eurozone HICP was released on Wednesday with a value of 10.0%, which was below the predicted value of 10.4% and the prior figure of 10.6%. As a result of a reduction in energy prices following electrification initiatives, inflationary pressures in the Eurozone economy have slowed, while food prices have remained steady. As a result of supply chain bottlenecks, the core HICP remained steady at 5%.

 

In the meantime, policymakers at the European Central Bank (ECB) are concerned about wage increases. When inflationary forces stabilize, greater salaries will persist, which could destabilize long-term inflation expectations.

 

Commerzbank thinks that a decline in the preliminary November inflation estimate has resulted in a 50 basis point reduction in the rate hike extent.

 

In addition, a bad German unemployment data reduces the likelihood that the ECB would raise interest rates at its December monetary policy meeting.

 

In the future, investors will closely monitor German Retail Sales data. The economic report is expected to increase the annual contraction rate from 0.8% to 2.8%. In addition, monthly figures are expected to fall by 0.6% compared to 0.9% growth. ECB policymakers will delight at a decline in retail demand.

 

On the United Kingdom front, the British Retail Consortium (BRC) stated in November that food inflation reached a 45-year high of 12.4%, lowering household morale as they will be unable to reconcile increasing food prices with decreasing salaries.

 

As reported by the Financial Times, Helen Dickinson, chief executive officer of the British Retail Consortium, responded to the statistics by remarking, "Winter looks increasingly bleak if price pressures continue." This may impact the British Pound in the future.

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