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1. European stock markets closed lower across the board. The German DAX index fell 1.34% to 24,959.06 points, the French CAC40 index fell 1.78% to 8,112.02 points, and the UK FTSE 100 index fell 0.39% to 10,195.35 points. Market concerns about weakening expectations of a Fed rate cut, weak European economic data, disappointing corporate earnings, and escalating geopolitical tensions fueled risk aversion. 2. The domestic bond market was generally weak and volatile. Most treasury bond futures closed lower, with the 30-year main contract down 0.22% and the 10-year main contract down 0.02%. Yields on most major interbank interest rate bonds rose by less than 1 basis point. 3. International oil prices rose across the board. The WTI crude oil futures contract rose 0.15% to $59.43 per barrel, and the Brent crude oil futures contract rose 0.08% to $64.18 per barrel. 4. All base metals rose in London. LME tin rose 3.87% to $49,840.0/ton, LME nickel rose 3.23% to $18,145.0/ton, LME copper rose 1.44% to $12,987.0/ton, LME aluminum rose 1.01% to $3,165.5/ton, LME lead rose 1.00% to $2,064.5/ton, and LME zinc rose 0.78% to $3,234.0/ton.January 20th - According to CNBC, citing sources, artificial intelligence startup Moonshot AI has increased its valuation by $500 million to $4.8 billion in its latest funding round. Just weeks ago, Moonshot AI was valued at $4.3 billion. The previous funding round was announced on December 31st, and IDG, Alibaba, and Tencent reportedly participated.January 20th - An article states that the high complexity of commercial spaceflight means its development is often accompanied by setbacks. We should view launch failures rationally and focus on the progress of troubleshooting. Currently, my countrys commercial spaceflight industry possesses two major structural advantages. On the one hand, thanks to a rigorous "zeroing out" mechanism, my countrys commercial spaceflight industry can systematically troubleshoot faults and accelerate technological iteration. On the other hand, the parallel exploration of multiple technological routes has formed a pattern of risk diversification and technological complementarity, which is expected to significantly shorten the technology maturity cycle and achieve substantial breakthroughs in key areas. At the same time, the long-term healthy development of the commercial spaceflight industry requires patient capital support. Commercial spaceflight technology has high barriers to entry and a long verification cycle; it is currently still in a critical stage of market cultivation and capacity building. Capital should focus on the long term, targeting companies with core technological strength and clear commercial paths, and avoid short-term speculation that could disrupt the industrys development pace.January 20th - The State Council Information Office will hold a press conference at 10:00 AM on Tuesday, January 20th, 2026. Wang Changlin, Vice Chairman of the National Development and Reform Commission, will introduce the implementation of the spirit of the Central Economic Work Conference and the relevant situation regarding promoting a good start to the 15th Five-Year Plan, and will answer questions from reporters. The State Council Information Office will also hold a press conference at 3:00 PM on Tuesday, January 20th, 2026. Liao Min, Vice Minister of Finance, will introduce the relevant situation regarding leveraging the role of proactive fiscal policy to promote high-quality economic and social development, and will answer questions from reporters.On January 20th, Mingming Very Busy announced on the Hong Kong Stock Exchange that it plans to issue 14,101,100 H shares for its Hong Kong listing (subject to the exercise of the offering size adjustment right and over-allotment option), with a pricing range of HK$226.6 to HK$236.60 per share. Trading of the H shares is expected to commence on January 28th.

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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