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On January 12th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 130,363 tons, an increase of 5,874 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 12,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,040 tons, an increase of 40 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. The previous trading day saw no change; 6. Petroleum asphalt futures warehouse receipts totaled 16,160 tons, an increase of 2,420 tons compared to the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 16,660 tons, unchanged compared to the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,464,000 barrels, unchanged compared to the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 22,760 tons, unchanged compared to the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged compared to the previous trading day.January 12th - It was learned today that the International Organization for Standardization (ISO) has officially released the international standard "Tribological properties of bearing materials for sliding bearings - Part 1: Testing of bearing alloys". This standard was led by my country, with experts from seven countries including Japan, Germany, the United Kingdom, France, and Austria participating in its development.On January 12th, Jefferies released a research report stating that it expects Lao Pu Gold (06181.HK) to achieve a net profit of RMB 2.3 billion in the second half of 2025, a year-on-year increase of 155%, with sales reaching RMB 15.3 billion, a year-on-year increase of 207%. Jefferies lowered its net profit forecasts for Lao Pu Gold for 2025, 2026, and 2027 by 14%, 6%, and 12% respectively, to reflect lower gross margins due to high gold prices and a return to normal growth in 2027. The bank lowered its target price for Lao Pu Gold from HKD 1,103 to HKD 981, corresponding to projected P/E ratios of 22x and 17x for 2026 and 2027 respectively. Despite profit margin pressures, Jefferies expects Lao Pu Gold to recover this year and reiterated its buy rating. Jefferies predicts that Lao Pu Gold will achieve a net profit of RMB 2.3 billion in the second half of 2025, with projected sales of RMB 13 billion in the mainland China market, a year-on-year increase of 188%; average sales per store are expected to increase by 130% year-on-year. Regarding overseas markets, overseas sales are projected to reach RMB 2.2 billion, representing a year-on-year increase of 295%. The gross profit margin is expected to be 36.4% during the period, compared to 38.1% in the first half of the year.On January 12th, according to Tianyancha Intellectual Property Information, a patent application filed by China FAW Group Corporation for "Vehicle Control Method, System, and Vehicle Based on Bio-Physical Coupling" was recently published. The abstract shows that this application relates to the field of vehicle control technology. The method includes: collecting multiple modalities of biosignals from the driver, which are acquired by a brain-computer interface device in the vehicle; recognizing the drivers current intention based on the multiple modalities of biosignals, and using a preset digital twin model to perceive the environmental state and predict the drivers target driving behavior; determining the drivers target intention based on the drivers current intention and target driving behavior; and controlling the vehicle based on the drivers target intention and the environmental state. This solves the problem of relatively limited application scenarios and insufficient functional expansion of the integration of brain-computer interfaces with automobiles, increasing driver comfort, improving operational efficiency, shortening response time, enhancing intention recognition capabilities in complex scenarios such as high speeds, and expanding immersive interaction.Market sources say XPeng Motors (09868.HK) is hiring banks to conduct an initial public offering (IPO) in Hong Kong for its flying car division.

Following the release of UK employment data, the EURGBP maintains a position above the center of 0.8700

Daniel Rogers

Nov 15, 2022 16:53

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During Tuesday's early European session, the EURGBP cross extends yesterday's modest retreat from the 0.8820-0.8830 support zone and crawls lower. Following the announcement of the most current employment data from the United Kingdom, the cross maintains a defensive position in the area of 0.8770-0.8765 with minimal volatility.

 

The UK Office for National Statistics reported that the unemployment rate unexpectedly climbed from 3.5% to 3.6% in the three months preceding September. In addition, the number of individuals claiming unemployment-related benefits decreased by 3,300, as opposed to the average prediction of a decrease of 12,500. However, the disappointment was somewhat by better-than-expected pay growth statistics.

 

In reality, the Average Earnings Excluding Bonuses climbed from 5.5% to 5.7%, above the predicted growth of 5.6%. The data lends credence to market predictions of a further policy tightening by the Bank of England, which is expected to give some support for the British pound. A slight boost in demand for the shared currency, however, works as a tailwind for the EURGBP cross, limiting its downside.

 

Against the backdrop of concerns regarding a more aggressive policy tightening by the European Central Bank (ECB), the introduction of fresh dollar sales bolsters the Euro. Before placing large bearish bets on the EURGBP cross and bracing for bigger intraday losses ahead of the German ZEW Economic Sentiment, this calls for some caution.


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