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Polish central bank governor: Poland is more likely to raise interest rates than lower them.July 14th - US small business confidence improved in June, but the percentage of business owners who considered inflation the "single most important issue" rose to its highest level in nearly two years, while more businesses reported raising average selling prices. Data released Tuesday by the National Federation of Independent Business (NFIB) showed that the Small Business Optimism Index rose 2.1 points to 97.4 in June, close to the indexs 52-year average of 98.0. The uncertainty index in the survey fell 2 points to 89, but remains significantly higher than the historical average of 68. Improved business confidence and reduced uncertainty may reflect a temporary drop in gasoline prices following the fragile ceasefire reached between the US and Iran. However, the ceasefire broke down last week after attacks on oil tankers in the Strait of Hormuz, triggering military strikes between the two countries. NFIB Chief Economist Bill Dunkelberg stated, "The current economic environment brings both positive changes for small business owners and ongoing challenges. Lower fuel costs provide welcome relief for both businesses and consumers, and businesses expect the operating environment to improve over the next six months."The European-Mediterranean Seismological Centre reported that a 4.3-magnitude earthquake struck the Sumbah region of Indonesia at a depth of 3.0 kilometers.Syrian Foreign Ministry: Condemns Irans attack on two UAE oil tankers in the Strait of Hormuz.On July 14th, a breakthrough in power transmission line inspection technology was achieved in the remote mountains of Jianshui County, Honghe Prefecture, Yunnan Province. Drones autonomously inspected power transmission lines directly connected to satellites, even without 4G or 5G signals or ground-based differential positioning assistance. This operation, relying on a self-developed system, successfully established a direct signal channel between the ground station, satellite, and drone, overcoming the challenge of inspection in signal-free areas with practical accuracy. Project leader Li Bingchen explained that this technology breaks the previous limitation that inspection drones had to be connected via remote controllers to fly, enabling autonomous inspection even in signal-free areas. Approximately 4,500 kilometers of power transmission lines in Yunnan are located in mountainous areas without signal coverage; with this technology, at least 90% of these areas can now be automatically inspected by drones.

Before BoJ Ueda's Speech, GBP / JPY Struggles To Extend Above 163.00

Alina Haynes

Feb 27, 2023 14:30

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It is difficult for the GBP / JPY pair to prolong its gains above 163.00 during the Asian session. Given that Bank of Japan (BoJ) Governor Nominee Kazuo Ueda is following in the footsteps of former BoJ Governor Haruhiko Kuroda, it is expected that the cross will resume its upward trend as investors cease supporting the Japanese Yen.

 

In his speech on Friday, BoJ Ueda stated that the current monetary policy is appropriate to maintain inflationary pressures. Despite reaching a multi-decade high, Japan's Consumer Price Index (CPI) is non-sticky due to the international forces propelling inflation. The accelerating price index in Japan is due to higher petroleum and food import prices, not domestic demand and wages, which should be the primary generators of inflation. The objective of the Japanese government was to develop a strategy for exiting the decade-long monetary policy with a new BoJ chairman. BoJ Ueda's dovish remarks, however, reduced long-term yen support wagers.

 

The term "ecosystem" refers to a group of people who work in the construction industry.

 

In the meantime, the British pound has moved sideways ahead of the anticipated announcement of a Brexit agreement by Prime Minister Rishi Sunak and President Ursula von der Leyen of the European Commission. "The Prime Minister wants to ensure that any deal fixes the practical problems on the ground, ensures trade flows freely throughout the entire UK, protects Northern Ireland's place in our Union, and returns sovereignty to the people of Northern Ireland," Sunak's office said in a statement cited by Reuters.


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