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January 31 - According to the China Railway 12306 Technology Center, since the Spring Festival travel rush train tickets went on sale on January 19, as of 11:00 AM on January 31, the railway department has sold a total of 51.02 million tickets.On January 31, Chen Jining, Secretary of the Shanghai Municipal Committee of the CPC, pointed out during a research visit this morning (January 31) to promote consumption through the integration of culture, tourism, commerce, sports, and exhibitions that it is necessary to thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the important speech delivered by General Secretary Xi Jinping during his inspection of Shanghai. He stressed the need to consistently focus on the deep integration of culture, tourism, commerce, sports, and exhibitions, using major festivals such as the Spring Festival as important levers to better grasp consumption trends, innovate consumption formats, enrich consumption scenarios, and lead the forefront of consumption, continuously amplifying the brand effect of "Shanghai Consumption" and promoting the construction of an international consumption center city to a deeper and more practical level.The U.S. Securities and Exchange Commission (SEC) has announced that due to the lack of funding and the (partial) government shutdown, it is currently operating according to its planned procedures during the shutdown. From January 31, 2026, until further notice, only a very small number of staff will continue to operate.January 31st - According to Xiongan Customs, the total import and export value of Xiongan New Area will reach 71.95 billion yuan in 2025, an increase of 18.9 times year-on-year. Exports will reach 11.38 billion yuan, an increase of 283.9% year-on-year; imports will reach 60.57 billion yuan, an increase of 8979.2% year-on-year.January 31st - Recently, Unit 2 of the support unit project for the Lingang Heavy-Duty Gas Turbine Test Power Plant successfully completed 168 hours of full-load trial operation, marking the full commissioning of the support unit project. The Lingang Heavy-Duty Gas Turbine Test Power Plant project is a major national "Two Engines" project. The support unit project follows the national strategy of relying on independent research and development while extensively engaging in international cooperation. It utilizes mature F-class and H-class commercial units on the market for technological breakthroughs and demonstrations. The support unit project is equipped with one 500 MW F-class unit (Unit 1) and one 670 MW H-class unit (Unit 2) combined cycle unit.

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.

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