EUR/USD
1.15114
0.165%
Gold
4011.83
0.823%
Oil
59.557
0.109%
USD/JPY
153.726
-0.250%
GBP/USD
1.30630
0.089%
GBP/JPY
200.818
-0.150%
Real-time News
November 6th - The Bank of Englands meeting this month coincides with the eve of the autumn budget announcement at the end of the month, becoming another factor for policymakers to carefully weigh their options. The market widely expects Chancellor of the Exchequer Reeves to announce tax increases to fill the fiscal gap. Earlier this week, Reeves explicitly hinted at an imminent tax increase, suggesting he would consider raising income tax as a revenue-generating measure, but did not disclose specific details. Tax increases could further alleviate inflationary pressures by curbing consumer demand. Berenberg economist Andrew Wishart pointed out that if the budget includes measures to raise income tax, it will exacerbate the drag on real household income from high inflation and slowing wage growth. However, as these factors suppress demand, inflationary pressures may ease. If so, the Bank of England could cut interest rates by at least 25 basis points to 3.50% twice next year, and if fiscal austerity measures are implemented in advance, it will pave the way for a third rate cut to 3.25% in 2026.The Hang Seng Index closed up 550.49 points, or 2.12%, at 26,485.9 on Thursday, November 6; the Hang Seng Tech Index closed up 158.37 points, or 2.74%, at 5,944.22; the H-share Index closed up 192.73 points, or 2.1%, at 9,355.97; and the Red Chip Index closed up 59.33 points, or 1.44%, at 4,173.87.ExxonMobil (XOM.N): The Greek offshore project is expected to achieve its first gas supply between 2030 and 2035.ECB Executive Board member Schnabel: The launch of structured securities portfolios is still a long way off.According to Enterprise Singapore (ESG), as of the week ending November 5, Singapores light distillate fuel oil inventories fell by 556,000 barrels to a four-week low of 12.783 million barrels.
