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Trump: Ukraine will receive massive support, including $350 billion and military equipment to keep fighting.Conflict situation: 1. Russian Defense Ministry: Russian air defense forces destroyed 19 Ukrainian drones last night. 2. Air raid alerts were issued throughout Ukraine, and the Air Force warned that Russia would launch a missile attack. 3. The Ukrainian Air Force shot down 6 missiles and 133 drones launched by Russia at night. Peace talks: 1. People familiar with the matter revealed that the UK is discussing convening European leaders for further talks on the Russian-Ukrainian conflict, which may be held as early as Sunday. 2. Ukraine agreed to the US mineral agreement after the United States gave up its most stringent demands. The Ukrainian cabinet is expected to recommend signing a key mineral deal with the United States on Wednesday. 3. The Kremlin: (When asked about the UN vote on Ukraine on Monday) The US position is more balanced, and Europes position on Ukraine may become more balanced due to engagement with the United States. 4. Trump: Ukraine will need some form of peacekeeping force. The future rare earth metal agreement signed with Ukraine may be valued at $1 trillion. 5. Trump: Sanctions on Russia will be lifted at some point. Hope to reach an agreement to gain access to Russias rare earth resources. 6. Source: Ukrainian President Zelensky plans to travel to Washington on Friday to meet with US President Trump. Others: 1. Polish Armed Forces: After Russia launched an attack on Ukraine, Poland urgently dispatched military aircraft to ensure the safety of its airspace. 2. The Ukrainian Parliament supports Zelenskys extension of his term, and Musk calls for elections. 3. British Prime Minister Starmer: Britains support for Ukraine has risen to a record level. 4. Peskov: Russia has rich rare earth reserves, and Russia and the United States have broad room for cooperation in this field.On February 26, "The amount of MLF due in February was 500 billion yuan, and 300 billion yuan was renewed on February 25, which is equivalent to a 200 billion yuan reduction in MLF in February." Wang Qing, chief macro analyst at Orient Securities, said that considering that the central bank had carried out a 1.7 trillion yuan buy-out reverse repurchase operation in January, it was equivalent to releasing large-scale medium-term liquidity in advance to cope with the large amount of MLF due in February. This also means that although the MLF has continued to shrink since October 2024, the central bank has not reduced its medium-term liquidity injection. Experts believe that although the central bank has recently suspended the purchase of treasury bonds in the secondary market, it is expected to maintain medium-term market liquidity at a relatively reasonable level through large-scale buy-out reverse repurchases, so as to support banks to increase credit supply at the beginning of the year, support government bond issuance, and stabilize market expectations.Lucid Group (LCID.O) interim CEO: The company plans to launch a mid-size car at the end of this year or early next year.According to Eastern European media Visegrad 24: Trump said that Ukraine will have enough weapons to continue fighting until the United States and Russia reach an agreement to resolve the Russia-Ukraine conflict.

After a Strong Rise Supported by the BOE's Dovish Guidance, EUR/GBP Floats Above 0.8700

Alina Haynes

Dec 16, 2022 11:57

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Following Thursday's trading above the important resistance level of 0.8700, the EUR/GBP pair is exhibiting range-bound behavior during the Tokyo session. After the Bank of England (BOE) sounded dovish on policy advice and the European Central Bank (ECB) announced a hawkish forecast for interest rates, market participants engaged in aggressive cross buying.

 

As expected, BOE Governor Andrew Bailey increased interest rates by 50 basis points (bps) to 3.25 percent. The inflation rate in the United Kingdom is in double digits, and the struggle against persistent inflation will continue for an extended period; hence, policy tightening is essential.

 

As direction for future monetary policy actions, the BOE noted that "the majority of the Monetary Policy Committee (MPC) feels that more bank rate increases may be necessary." The British pound has been subjected to great pressure due to the lack of clarity surrounding future policy tightening. Voting on the interest rate decision, policymakers supported the status quo because they regarded the current interest rate policy to be adequate for fighting inflation.

 

As predicted, ECB President Christine Lagarde raised interest rates by 50 basis points in relation to the Eurozone. Due mostly to rising food prices, the Eurozone's central bank expects inflation to remain well above its 2% target for a lengthy period of time. The ECB has upped its interest rate peak forecast because it anticipates two additional 50 basis point rate hikes.

 

The release of Retail Sales statistics for the United Kingdom will be significant for future forecasting. According to the forecasts, the yearly economic statistics (Nov) would likely decline by 5.6% compared to the previously reported 6.1% decrease. While the monthly data will decline from 0.6% to 0.3%, they were 0.6% in the previous report.


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