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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

Near 0.8670, the EUR/GBP shows a careless drop; attention is on UK employment

Alina Haynes

Sep 13, 2022 11:02

截屏2022-09-13 上午9.46.47.png 

 

The EUR/GBP pair displayed a minor pullback on Monday after hitting a four-day low of about 0.8650. After finishing the retreat, it is projected that the cross will start moving downward and that it will quicken its slide after losing the crucial support level of 0.8650. According to incoming job data from the United Kingdom, the asset will probably change.

 

Forecasts indicate that the unemployment rate in the UK will remain at 3.8%. The unemployment rate won't change even if the number of people collecting unemployment benefits will drop by 9.2k. Due to higher payouts in an inflationary environment, the Average Earnings data is the catalyst that families should take into account. The labor cost index would significantly rise from 4.7% to 5%, helping households offset the higher payments brought on by soaring inflation.

 

Additionally, Wednesday's UK inflation figures will be crucial. It is projected that the UK's Consumer Price Index (CPI) will stay over 10% at 10.2%. The Bank of England (BOE) will be forced to raise interest rates as a result. The difference in policy between the Bank of England and the European Central Bank could be made worse by this.

 

The bulls of the single currency must contend with rising energy prices. The quantity of energy needed to run heaters and other heat-generating devices will rise over the upcoming winter season in Europe. As a result, the need for energy will rise even further. The ECB unexpectedly raised interest rates by 75 basis points (bps) last week; this week, it will announce more rate rises as long as price pressures exceed the planned rate.

 

Due to rising energy prices, the corporate sector in the eurozone is going through a period of declining profitability. Major corporations' input costs have increased as a result of rising energy prices, reducing their operating margins and forcing some businesses into bankruptcy. Their financial performance is significantly impacted by rising energy prices and interest rates.

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