EUR/USD
1.16238
-0.008%
Gold
4533.47
-0.224%
Oil
97.806
-0.466%
USD/JPY
158.961
0.026%
GBP/USD
1.34366
0.013%
GBP/JPY
213.594
0.042%
Real-time News
On May 21st, Chris Williamson, Chief Business Economist at S&P Global, stated that the UK economy is facing a "perfect storm" as escalating political uncertainty further amplifies the impact of the Middle East wars. Businesses reported declining output, soaring inflation, supply shortages, and frequent layoffs in May. Mays PMI data indicated that the countrys economy contracted by 0.2% quarter-on-quarter, a stark contrast to the strong growth earlier this year. While the primary responsibility lies with the Middle East wars, businesses also pointed to escalating domestic political problems, leading to increased uncertainty and consequently suppressing consumption, hiring, and investment. The situation could worsen in the coming months, as some support for manufacturing has been seen from precautionary stockpiling, but this support will inevitably weaken once warehouses are full. Meanwhile, prices are soaring as these costs are passed on to consumers, foreshadowing a significant rise in inflation in the coming months. This situation of weak economic growth and persistently rising price pressures puts the Bank of England in an extremely difficult dilemma: on the one hand, they urgently need to raise interest rates to curb inflation; but on the other hand, doing so would increase the risk of a recession.On May 21st, the Shanghai Futures Exchange (SHFE) reported the following warehouse receipts and changes: 1. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 2. Natural rubber futures warehouse receipts: 140,900 tons, an increase of 2,300 tons from the previous trading day; 3. Zinc futures warehouse receipts: 109,498 tons, an increase of 1,075 tons from the previous trading day; 4. Alumina futures warehouse receipts: 477,553 tons, a decrease of 4,813 tons from the previous trading day; 5. Nickel futures warehouse receipts: 79,737 tons, an increase of 470 tons from the previous trading day; 6. Gold futures warehouse receipts: 111,669 kg, an increase of 1,020 kg from the previous trading day; 7. Petroleum asphalt plant warehouse futures warehouse receipts: 31,220 tons, unchanged from the previous trading day; 8. Petroleum asphalt warehouse futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 9. Copper futures warehouse receipts were 99,866 tons, a decrease of 1,148 tons from the previous trading day; 10. Lead futures warehouse receipts were 64,345 tons, a decrease of 2,600 tons from the previous trading day; 11. Silver futures warehouse receipts were 989,688 kg, a decrease of 5,039 kg from the previous trading day; 12. Low-sulfur fuel oil warehouse futures warehouse receipts were 0 tons, a decrease of 1,540 tons from the previous trading day; 13. TSR20 rubber futures warehouse receipts were 34,070 tons, a decrease of 1,311 tons from the previous trading day; 14. Aluminum futures warehouse receipts were 481,603 tons, an increase of 838 tons from the previous trading day; 15. Hot-rolled coil futures warehouse receipts were 577,327 tons, a decrease of 20,215 tons from the previous trading day; 16. Butadiene rubber futures warehouse receipts were 32,520 tons, a decrease of 700 tons from the previous trading day; 17. 18. Pulp warehouse futures receipts: 201,824 tons, up 2,980 tons from the previous trading day; 19. Pulp mill warehouse futures receipts: 20,000 tons, unchanged from the previous trading day; 10. Tin futures receipts: 8,341 tons, down 120 tons from the previous trading day; 20. Stainless steel warehouse futures receipts: 72,444 tons, down 184 tons from the previous trading day; 21. Fuel oil futures receipts: 47,160 tons, unchanged from the previous trading day; 22. Rebar warehouse futures receipts: 17,223 tons, unchanged from the previous trading day; 23. International copper futures receipts: 13,174 tons, down 349 tons from the previous trading day.On May 21, the General Administration of Customs and the Ministry of Agriculture and Rural Affairs issued an announcement stating that the Philippines recently reported an outbreak of African swine fever to the World Organisation for Animal Health (WOAH). To prevent the spread of the disease and protect my countrys livestock industry and biosecurity, the following announcement is made in accordance with relevant laws and regulations: 1. The direct or indirect import of pigs, wild boars, and related products (products derived from unprocessed pigs or wild boars, or products that, although processed, may still transmit diseases) from the Philippines is prohibited. 2. The mailing or carrying of pigs, wild boars, and related products from the Philippines into China is prohibited. Any such products discovered will be returned or destroyed. 3. Animal and plant waste, swill, etc., unloaded from inbound transport vehicles from the Philippines must be disposed of under customs supervision and must not be discarded arbitrarily. 4. Pigs, wild boars, and related products from the Philippines illegally imported and intercepted by border inspection departments will be destroyed under customs supervision. This announcement shall take effect from the date of issuance.The UK Office for National Statistics reports that net long-term migration to the UK will be 171,000 in 2025, compared to 331,000 the previous year.The onshore yuan closed at 6.7960 against the US dollar at 16:30 on May 21, up 100 points from the previous trading day.
