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May 26 - A 6.9-magnitude earthquake struck the Antofagasta Region in northern Chile on May 25, according to the National Seismological Center of the University of Chile. No casualties or damage have been reported so far. The earthquake occurred at 5:52 p.m. local time on May 25 (5:52 a.m. Beijing time on May 26), with its epicenter located 20 kilometers northeast of Calama, Antofagasta Region, at a depth of 114 kilometers. The Chilean Navys Hydrographic and Oceanographic Service tsunami warning department stated that the earthquake would not trigger a tsunami. Chile is located in the Pacific Ring of Fire, a region prone to earthquakes.On May 26th, it was reported that Meituan and SF Express have opened over 1,400 low-altitude air routes, achieving routine operation of drone logistics and gradually becoming profitable. Meanwhile, large-payload, long-range cargo drones independently developed by central state-owned enterprises, such as the Changying-8 and HH-200, have completed their maiden flights, and a preliminary "trunk-branch-terminal" low-altitude logistics network led by drones is emerging. When will large-scale commercialization of low-altitude logistics be realized? At the recent 2026 World Drone Conference, attendees believed that as the fastest-developing scenario in the low-altitude economy, low-altitude logistics is transitioning from routine operation to commercial profitability, and is expected to experience explosive growth in the next two to three years.U.S. stock index futures rose, with Nasdaq futures up 1.3%, S&P 500 futures up 0.9%, and Dow Jones futures up 0.87%.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.5 occurred near northern Chile (23.13 degrees south latitude, 69.52 degrees west longitude) at 05:52 on May 26. The final result is subject to the official rapid report.The European-Mediterranean Seismological Centre reports that a 6.1-magnitude earthquake struck Antofagasta, Chile, at a depth of 111 kilometers.

UK GDP comes into focus when the EUR/GBP crosses a hurdle near 0.8440

Alina Haynes

Aug 11, 2022 12:03

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During the early Tokyo trading session, selling pressure developed on the EUR/GBP exchange rate towards the significant resistance level (R) of 0.8440. Prior to then, the cross had reversed after a sudden decline to about 0.8420. The German Harmonized Index of Consumer Prices (HICP), which measures consumer price changes, held stable at 8.5%, while the asset declined on Wednesday after breaching a crucial support level of 0.8440. Furthermore, Germany's inflation rate matched expectations.

 

It is interesting that decreased oil prices have led to a dramatic decline in inflation in the US economy. The decline in oil prices should also contain inflation in Germany. This suggests that the ongoing energy crisis in Germany brought on by Russia shutting down a crucial gas pipeline to Europe has been unaffected by the reduction in oil prices.

 

Investors sold off the common currency's bulls. The multiplying effects of the inflation issue provide the European Central Bank (ECB) with an ever-more challenging situation.

 

The market was expecting the UK's GDP to grow by 0.3% in the second quarter, but analysts estimate a 0.2% decline. The 1.3% decrease in the UK GDP is anticipated to more than outweigh the 0.5% monthly expansion. Additionally, annual GDP predictions were reduced from 8.7% to 2.8%.

 

It is also anticipated that manufacturing output will fall short of expectations. An annual decline of 1.3% from the previous 2.3% is projected. However, the rate of industrial production increase each year might be between 1.4% and 1.6%.


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