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On October 4th, Hongmeng Intelligent Driving announced that it had received 18,500 pre-orders for its entire lineup during the first three days of the National Day holiday (October 1st-3rd). Among them, 5,800 were for the Wenjie M7, 2,700 for the Zhijie R7, 2,100 for the Shangjie H5, and 1,500 for the Xiangjie S9T.On October 4th, local time, hundreds of protesters gathered outside a U.S. Immigration and Customs Enforcement (ICE) facility in Broadview, Illinois, a suburb of Chicago, clashing with law enforcement officers and resulting in multiple arrests. This follows numerous previous clashes between protesters and ICE officers in the area. Since the Trump administration took office, it has stepped up its crackdown on illegal immigrants. Protesters have repeatedly blocked vehicles transporting detainees to the ICE facility in Broadview. The U.S. government has responded by stating that it will not tolerate rioters using violence to prevent law enforcement.On October 4th, Zeekr Technology and Geely Auto filed a Form CB with the U.S. Securities and Exchange Commission (SEC) regarding the merger of Zeekr Technology and Geely Auto on October 1st. The attachments to this Form CB include a sample consideration election form, which Geely Auto will mail to Zeekr Technologys common shareholders through an intermediary on September 30, 2025 (U.S. time), and a sample ADS consideration election document, which will be mailed to distribution agents of stockbroking firms. Zeekr Technologys common shareholders and ADS holders will be required to elect to receive Geely Auto shares or cash in the merger transaction in accordance with the terms of the consideration election document they receive.Conflict Situation: 1. Russia claims to be advancing on all fronts, while Ukraine claims to be launching attacks from multiple directions. 2. Energy facilities in multiple locations in Ukraine have been attacked, and power restrictions have been implemented in some areas. 3. Russian Defense Ministry: Russian air defense systems shot down 20 Ukrainian drones over multiple regions. Other Situations: 1. Ukraine announced the severance of diplomatic ties with Nicaragua. 2. Putin refuted claims that Russia would attack NATO members. 3. The Dutch Prime Minister stated that he would not rule out the possibility of circumventing Hungary to pass sanctions against Russia. 4. The European Council extended its sanctions regime against Russia for one year. 5. The EU extended sanctions against certain Russian individuals until 2026. 6. The Kremlin: The US has not yet responded to Russias proposal regarding the New START Treaty. 7. The Russian government approved the extension of restrictions on imports and exports to unfriendly countries. 8. Hungarian Prime Minister: The EU should establish a partnership with Ukraine rather than accept its membership. 9. According to the Financial Times: Sources said that Trump still opposes using US taxpayers funds to aid Ukraine, and prefers NATO allies to buy weapons from Washington and then ship them to Kyiv.The Dow Jones Industrial Average closed up 238.56 points, or 0.51%, to 46,758.28 on Friday, October 3; the S&P 500 closed up 0.44 points, or 0.01%, to 6,715.79 on Friday, October 3; and the Nasdaq Composite closed down 63.54 points, or 0.28%, to 22,780.51 on Friday, October 3.

Prior to UK/US PMI, GBP/USD Justifies Monday's Bearish Doji to Drop to 1.2000

Alina Haynes

Feb 21, 2023 15:18

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In the early hours of Tuesday morning, GBP/USD retests intraday lows at 1.2020 as traders celebrate the return of Western traders after a lengthy weekend owing to American holidays. In addition to the return of the entire market, the traders of the Cable pair express concern over the Brexit deal negotiations and worries regarding the trust of small industries.

 

Late on Monday, the UK Times claimed that British Ministers are willing to resign over (Prime Minister) Rishi Sunak's Brexit proposal if it undermines Northern Ireland's position inside the United Kingdom. The Times said that "the hostility of euroskeptic Tory lawmakers to the accord is rising."

 

In another article, The Times quotes a Barclay's industrial poll to show that small business owners are becoming more hopeful about the future. The same adds to evidence that the United Kingdom's economic outlook may not be as grim as feared and stated in the press.

 

Concerns of a monetary policy divergence between the Federal Reserve and the Bank of England (BoE) appear to be weighing on the GBP/USD exchange rate, as seen by the week's mixed British results and the robust American data.

 

Notwithstanding this, yields on 10-year U.S. Treasury notes are near their highest levels since early November 2022, with bids hanging around 3.86 percent.

 

Meanwhile, geopolitical concerns emanating from China and Russia appear to enhance the safe-haven demand for the US Dollar and weigh on the GBP/USD exchange rate.

 

The initial figures of the S&P Global PMIs for February will be crucial for GBP/USD traders. To stabilize prices, however, favorable news from the United Kingdom is essential, since recent US Treasury bond yield movements have favored the US Dollar ahead of the most critical US PMIs.