EUR/USD 1.13874
0.157%
Gold 4034.33
0.192%
Oil 70.067
-1.762%
USD/JPY 161.621
-0.108%
GBP/USD 1.32093
0.145%
GBP/JPY 213.495
0.049%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The EU oil coordination group says the situation is currently stable, mainly due to the reduction in global inventories over the past few months.The EUs oil coordination group will continue to monitor the security of the EUs oil supply and coordinate actions as necessary.June 26 – The European Central Bank (ECB) will discontinue approximately 40 regulatory guidelines for banks as part of measures to reduce the regulatory burden on the banking sector. ECB Executive Board member Heinz Ehrlich stated on Friday that the ECB had reviewed over 130 such documents “to make them more concise and easier to use.” He indicated that the cancelled documents were either outdated and replaced by new regulations, or no longer applicable, while others had been revised. Following the financial crisis, European authorities have sought to reduce the massive requirements imposed on banks to improve regulatory efficiency while maintaining the hard-won resilience of the financial system. However, European banks believe these reforms are still insufficient, as the United States is pushing for even greater regulatory deregulation by eliminating and reducing some requirements.June 26th - The National Medical Products Administration (NMPA) announced that the newly revised "Regulations on Registration and Filing of New Cosmetic Raw Materials and Data Management" has just been released and will officially take effect on July 15th. The new regulations will remove obstacles and difficulties in cosmetic raw material innovation, enhancing the efficiency and empowering the research and development of my countrys cosmetic industry. Li Yunfeng, Deputy Director of the Cosmetic Supervision Department of the NMPA, stated that the new regulations encourage companies to adopt new technologies and methods such as animal substitution testing, reducing international trade technical barriers and providing policy support for promoting the export of Chinese cosmetic products.On June 26, it was reported that certified public accountants (CPAs) play a vital role in maintaining market economic order and protecting the legitimate rights and interests of the public. The 23rd session of the Standing Committee of the 14th National Peoples Congress passed a decision on amending the Certified Public Accountants Law on June 26, which will take effect on January 1, 2027. This amendment to the CPA Law, while maintaining the basic framework and main systems of the current law, focuses on strengthening Party leadership, improving regulatory measures, and increasing accountability. It aims to address prominent issues in the CPA industry, such as audit fraud, promote the CPA industrys fulfillment of its "gatekeeper" responsibilities, and drive the industrys healthier development.

GBP/JPY moves around 161.50 as Winter Energy Shock worries rise

Alina Haynes

Aug 26, 2022 15:14

 截屏2022-08-26 上午9.59.52.png

 

GBP/JPY is trading between 161.32-161.60 in Tokyo. After Wednesday's firmer rebound from 160.86, the cross is sideways. The cross rose after retesting Tuesday's low near 161.00, but the lack of a convincing reason caused it to drift sideways.

 

As the UK economy approaches a recession and energy shocks loom, the cross could reverse its drop. After Russia's invasion of Ukraine, British gas and power costs are rising due to an embargo on Russian energy imports. As winter approaches, the energy regulator has enforced an 80% price cap hike.

 

The energy price cap hike will undoubtedly depress British homeowners. The administration has failed to cut the labor cost index, which is at its highest level in 40 years. Rising energy prices will reduce consumer confidence in the economy. The pound could be affected.

 

The Bank of Japan's (BOJ) conservative monetary policy has failed to stimulate the yen zone. The Jibun Bank Manufacturing PMI for Japan was 51, lower than 51.8 and 52.1. Services PMI was 49.2, compared to 50.7 and 50.3.

Suggestion