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On May 9, Ibrahim Manzo Diallo, president of the Niger National Communications Observatory, announced on May 8 that the country would suspend the broadcasting of approximately 10 French media outlets, citing their repeated dissemination of content that "may seriously endanger public order, national unity, social cohesion, and the stability of the republics institutions."On May 9, the Beijing Securities Regulatory Bureau disclosed an administrative penalty decision, in which Feng Pengpeng and Ban Keke were punished for fabricating and disseminating false information involving chip orders of listed companies, thereby disrupting the securities market. Their illegal gains were confiscated, and they were fined 200,000 yuan and 250,000 yuan respectively.May 9th - Data released today by the General Administration of Customs shows that in the first four months of this year, my countrys total import and export value of goods reached 16.23 trillion yuan, a year-on-year increase of 14.9%, continuing its strong growth momentum. In the first four months, my countrys exports of electromechanical products reached 5.92 trillion yuan, an increase of 17.6%, accounting for 63.5% of my countrys total exports. Among them, exports of green and low-carbon products such as electric vehicles, lithium batteries, and wind turbine generators increased by 68.1%, 43.2%, and 40.7% respectively, while exports of industrial robots increased by 30%.On May 9th, Ant Financial released its trillion-level flagship thinking model, Ring-2.6-1T, designed specifically for complex real-world tasks. The model innovatively introduces an adjustable Reasoning Effort mechanism, supporting two levels of inference intensity: high and xhigh. In real-world task execution benchmarks, it scored 87.6 on PinchBench, outperforming GPT-5.4x High, Gemini-3.1-Pro high, and Claude-Opus-4.7x high. In challenging inference tasks, ARC-agi-V2 scored 77.78, placing it on par with Gemini-3.1-Pro high and Claude-Opus-4.7x high.On May 9th, at the 2nd Aerospace Information Technology Conference, the Aerospace Information Innovation Research Institute of the Chinese Academy of Sciences, together with over a hundred research institutes and universities, proposed jointly building a "Space Cloud" ecosystem and promoting the formation of a "Space Cloud" space-based information service system. The "Space Cloud" is expected to play a significant role in multiple fields such as emergency response and disaster reduction, public services, and emerging industries, enhancing the intelligent and systematic comprehensive application efficiency of space-based resources.

GBP/USD to Test 1.2260; Downside Remains Favored Due to Rising US CPI; UK GDP Watched

Daniel Rogers

May 12, 2022 10:13

The GBP/USD pair has broken to the negative from its week-long consolidation between 1.2260 and 1.2400. The asset may test the lower range of consolidation to confirm the bears' strength, but the downside remains intact as rising US inflation data has increased the likelihood of a massive rate hike by the Federal Reserve (Fed) in June.

 

Wednesday's 8.3 percent reading for the US Consumer Price Index (CPI) surpassed the 8.1 percent forecast by theștiindștiind. Market analysts anticipated that the Fed's June monetary policy would include a 50 basis point (bps) interest rate hike in response to the US CPI reading of 8.1%. Now, a higher-than-anticipated US inflation rate has increased the likelihood of a 75 basis point rate hike. This has shook the foreign exchange market, and investors are selling risky assets like there is no tomorrow.

 

In the meantime, the US dollar index (DXY) is trying to maintain its position above 104.00, although the upside remains intact. Regarding the British pound, investors anticipate the announcement of Gross Domestic Product (GDP) figures. The quarterly GDP estimate for the United Kingdom is predicted to be 1 percent, compared to the previous estimate of 1.3%, while the annual estimate is projected to be 9 percent, compared to the previous estimate of 6.6%. A higher-than-anticipated UK GDP may protect the pound from additional losses, whilst a weaker-than-anticipated figure would accelerate the asset's decline.

GBP/USD

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