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On June 29, Tuhu (09690.HK) announced on the Hong Kong Stock Exchange that it has confidentially submitted a draft F-1 registration statement to the U.S. Securities and Exchange Commission regarding the proposed initial public offering and listing of American Depositary Shares representing the companys Class A ordinary shares in the United States, and has filed with the relevant Chinese regulatory authorities in accordance with applicable Chinese laws and regulations regarding the proposed overseas offering and listing.1. Musk announced that Grok 4.5 is in internal testing and its performance may surpass Anthropics Opus. 2. US media: Zhipu GLM-5.2 is comparable to Mythos in vulnerability finding. 3. South Korean media: Samsung and SK Group are expected to announce an investment plan of up to 2,000 trillion won. 4. Momenta plans to issue 19.93 million shares in its Hong Kong listing, with an issue price of HK$295.6 per share. 5. British media: The UK is considering gradually replacing traditional destroyers to accelerate its transformation to unmanned warfare. June 29th - According to a survey released by Invesco, concerns about the US dollar are "widespread and deepening," with 61% of surveyed central banks stating that US debt levels negatively impact the dollars long-term status as a reserve asset, compared to 20% in 2024. While the Iran war has boosted the dollar by 3% this year, analysts say that US policy uncertainty and high debt levels suggest the dollar may weaken in the long term. Although any shift towards reducing dollar investments is likely to be gradual due to the lack of credible alternatives, the Invesco survey shows that 29% of respondents believe the dollars reserve currency status will weaken within five years, up from 12% in 2022. Invesco also noted that several institutions have reported reassessing their reliance on US custodians, counterparties, and clearing infrastructure due to geopolitical tensions. Meanwhile, one-third of respondents indicated they intend to increase their gold holdings in response to the trend of investment diversification.Japans seasonally adjusted retail sales rose 1.9% month-on-month in May, compared with expectations of a -0.60% decline and a revised 2.10% increase in the previous month (originally 1.30%).Japans retail sales rose 5.3% year-on-year in May, below the expected 3.2% and the previous figure revised from 2.10% to 2.80%.

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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