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On September 12th, the official Weibo account of "The Dark Side of the Moon" posted: Information circulating online regarding the founder and employees is completely fabricated and malicious rumor-mongering. We have immediately reported the matter to the police and will pursue legal action against those responsible for spreading the rumors. Please do not believe or spread rumors.On September 12th, He Baohong, Chief Engineer of the China Academy of Information and Communications Technology (CAICT), stated at the 2026 China Computing Power Conference that the development of comprehensive computing power should revolve around differentiated layout, software and hardware industry systems, low-carbon computing power infrastructure, and a nationally integrated institutional system, driving the shift in computing power construction from scale expansion to quality and efficiency improvement. Regarding regional policy implementation, advantageous regions should focus on both improving existing capacity and addressing rigid demand gaps, deeply cultivating high-value-added scenarios; growing regions should strengthen regional computing power hubs, using industry applications to drive upgrades in storage, computing, and network infrastructure; resource-rich regions should undertake non-real-time businesses such as training and cold data, supplementing their external transportation networks and industrial ecosystems. In terms of extending and strengthening the industrial chain, it is recommended that newly built intelligent computing centers be equipped with storage and networks simultaneously, improving the entire chain of chips, servers, databases, and models, using real business needs to drive the construction of computing power, storage, and transportation capacity. Regarding green empowerment and unified management, it is recommended to promote liquid cooling, energy-saving renovations, and computing-electricity synergy, improve clean energy consumption, and improve pricing, trading, value accounting, and compliance supervision systems.September 12th - Following the Houthi rebels capture of the key Red Sea town of Muha, the number of ships passing through the Bab el-Mandeb Strait on the 10th plummeted to single digits. Data shows that as of approximately 3 PM local time on the 10th, only six ships had passed through the strait that day, compared to 30 on the 9th, 26 on the 8th, and 29 on the 7th. The report stated that of the ships that passed through on the 10th, five carrying grain, crude oil, coal, and fertilizer left the strait, while another ship entered. The Bab el-Mandeb Strait connects the Red Sea and the Gulf of Aden and is a vital shipping route in the Middle East, handling approximately 12% of the worlds goods.September 12th - According to Canadian media reports on September 11th, Dominic LeBlanc, Canadas Minister for Canada-US Trade, stated at a cabinet meeting that there are currently no formal trade negotiations arranged between Canada and the United States, but he remains in contact with US Trade Representative Greer and US Commerce Secretary Howard Lutnick. LeBlanc said the escalating trade dispute between Canada and the United States remains a key issue for the government. The Canadian government must prepare for potential trade agreements, and any agreement must respect Canadian sovereignty and be in the national interest.On September 12, Sun Lei, Chargé dAffaires ad interim of the Permanent Mission of China to the United Nations, spoke at a high-level discussion during the UN South-South Cooperation Day commemoration on September 11, calling for deeper South-South cooperation. Sun Lei stated that China supports the statement made by Uruguay on behalf of the "Group of 77 and China" and appreciates the efforts made by the UN Office for South-South Cooperation to promote development in the Global South. Southern countries face the common task of achieving economic and social development and should adhere to the principles of independence, equality, and mutual benefit, leveraging the advantages of South-South cooperation in capacity building and knowledge sharing to form a synergy for development. China has always been a member of the Global South and welcomes the continuous enrichment of South-South cooperation mechanisms and platforms. China expects relevant cooperation to continue to be led by developing countries and demand-oriented, achieving practical results.

With rates rising, the GBP/JPY continues to recover to 164.00, and focus shifts to Downing Street

Alina Haynes

Jul 08, 2022 11:30

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GBP/JPY maintains its gains from the previous day at about 163.60 during the opening hour of Friday's Tokyo trading session. The cross-currency pair recently celebrated declining political unrest in Downing Street, rising US Treasury rates, as well as the depreciation of the US dollar, recalling buyers during the dull Asian session.

 

The day before, under intense pressure from his cabinet and many resignations, UK Prime Minister Boris Johnson finally announced his resignation as leader of the UK Conservative Party. The rebels are relieved by the action, and it ensures little political damage. The risk-taking nature is still being challenged by the search for a replacement and a novice cabinet with numerous new appointees, though.

 

The day before, risk aversion also diminished as well-known figures repeated previous pronouncements in an effort to allay concerns about a recession. News regarding China and conflicting statistics from the United States also helped the market.

 

According to Bloomberg, China will raise $220 billion through unprecedented bond sales as stimulus. Officials from the United States and China will meet in person after their most recent video session, the same source states. Analysts, on the other hand, are less thrilled. Beijing is hoping that by fixing the supply-chain dilemma, it would be able to help the United States mitigate its inflation problem.

 

Notably, the GBP/JPY pair is able to maintain its strength due to the recently reduced Japan Current Account balance for May, which was 128.4 billion vs the expected 185.6 billion. The market's expectation of today's US jobs report and the broad dollar slide may also be cited as reasons driving up the price of the pair recently.

 

These transactions result in a resumption of the rising trend in US Treasury rates and a higher closing price for Wall Street benchmarks. But as of the time of publication, S&P 500 Futures are slightly down.

 

GBP/JPY traders should monitor UK politics and Brexit news, as well as economic worries, for fresh inspiration.

 

GBP/JPY buyers are propelled toward a two-week-old resistance line around 164.15 at the latest if there is a clear break over the 50-day simple moving average, which is currently at 162.85 at the time of publishing.


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