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On August 30, the 2026 National Social Science Fund Annual Project Review Meeting was held in Beijing. Li Shulei, member of the Political Bureau of the CPC Central Committee and Minister of the Publicity Department of the CPC Central Committee, attended and delivered a speech. The meeting emphasized that Chinese-style modernization provides a rich practical foundation and broad space for innovation for the high-quality development of philosophy and social sciences. It stressed focusing on primary tasks, fully utilizing resources and methods from various disciplines, and continuously deepening the systematic research and interpretation of the Partys innovative theoretical system. It also emphasized accelerating the construction of an independent knowledge system for Chinese philosophy and social sciences, actively researching and solving major theoretical and practical problems of Chinese-style modernization, promoting the creative transformation and innovative development of excellent traditional Chinese culture, and facilitating cultural exchange and mutual learning. Furthermore, it stressed the need to focus on building a research management system and organizational form conducive to solving real problems, deepening the systemic reform of the National Social Science Fund, advocating excellent academic style and writing style, improving the academic evaluation system, stimulating research vitality, and promoting the digital and intelligent empowerment of philosophy and social science research.The Ukrainian military stated that Ukraine has struck an oil refinery in the Leningrad region of Russia and a military airbase in the Krasnodar region.August 30 - According to a report by the Icelandic National Broadcasting Corporation on the 30th, preliminary vote counts from the Icelandic referendum held on the 29th showed that a majority of voters opposed restarting negotiations for Icelands accession to the European Union.Malaysian Prime Minister Anwar Ibrahim: The new fuel quota system will be implemented on September 1.On August 30th, it was reported that on August 29th local time, violent attacks by Jewish settlers occurred in several locations in the West Bank, resulting in multiple injuries. In the village of Goslah, over 50 masked settlers threw stones at Palestinian residents inside their homes; in the village of Jaloud, masked settlers intercepted and attacked a vehicle belonging to the NBC News team; and in the village of Khaldin, armed settlers kidnapped and detained a British activist who supports Palestine.

Despite the fact that Eurozone interest rates are anticipated to peak sooner, the EUR/GBP looks to have breached over 0.8630

Daniel Rogers

Dec 07, 2022 15:12

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The EUR/GBP pair has had a stronger recovery from 0.8580 during the Asian session, approaching the pivotal 0.8630 level. Despite the European Central Bank (ECB) being close to reaching an interest rate high, there has been strong demand for Euro bulls. Thus, the monetary policy meeting scheduled for next week will be of utmost significance.

 

The cross is attempting to break strongly above the significant barrier of 0.8630 for the fourth time this week. The hawkish remarks made by ECB policymakers are holding back the euro bulls.

 

"There will be another rate hike," said Constantinos Herodotou, governor of the Central Bank of Cyprus, "but we are very near to neutral." The European Central Bank's chief economist, Phillip Lane, is unsure as to whether the inflation peak has already occurred or will take place in 2019. He stated that although "much has already been done," he does not rule out more rate increases.

 

Investors are currently looking forward to Christine Lagarde's speech, which will be revealed on Thursday. The ECB President is likely to lower her inflation projection in her future statement in light of the poor retail sales numbers.

 

In contrast to expectations for a 1.7% loss, this week's Eurozone retail sales numbers showed a 1.8% decline. Aside from that, annual economic data contraction came in at 2.7% as opposed to the 2.6% consensus expectation. A decline in household demand demonstrates the effectiveness of the European Central Bank's (ECB) policy tightening initiatives. To reach their sales targets, firms could feel pressured to lower the prices of their products and services.

 

The United Kingdom's deteriorating food crisis, brought on by growing costs and a labor shortfall, has had an impact on the Pound Sterling. According to Minette Batters, president of the National Farmers Union, "the government and the entire supply chain must act swiftly." The Financial Times stated that "tomorrow might be too late." The economy already faces rising food inflation, and the issue with the supply of food will make matters worse.


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