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August 20th - Since the beginning of this year, my countrys consumer market has maintained a trend of innovation and improvement, with the market size steadily expanding and the quality of development continuously improving. From January to July, the total retail sales of consumer goods and services increased by 2.6% year-on-year; the total retail sales of consumer goods reached 28.77 trillion yuan, an increase of 1.2%, of which retail sales of consumer goods excluding automobiles increased by 2.7%.Chinas July SWIFT RMB share in global payments and the one-year loan prime rate (LPR) up to August 20 will be released in ten minutes.The United States has secretly opened the Hormuz oil route, with 15 to 20 oil tankers passing through quietly at night each day, transporting approximately 10 million barrels of crude oil to the sea. A quick overview of the pre-market crude oil prices (converted between domestic and international markets) is provided in the chart.The US Treasury expanded its long-term Treasury bond repurchase program, causing precious metals to fluctuate at high levels. A chart provides a quick overview of the pre-market conversion prices of gold and silver in both domestic and international markets.On August 20th, according to news from China Optics Valley, on August 18th, at the signing ceremony for the cooperation between Tongji Hospital and Tianqin Biotechnology Research Platform, six scientific and technological innovation platforms were unveiled: the Experimental Animal Center of the National Medical Center for Major Public Health Emergencies, the Experimental Animal Center of Tongji Hospital, the Hubei Provincial Brain-Computer Interface Technology Innovation Center, the Hubei Provincial Brain Science and Brain-Computer Interface Concept Proof Center, the Tongji Hospital Brain-Computer Interface Research Institute, and the Tongji Hospital-Tianqin Biotechnology Brain-Computer Fusion Translational Medicine Joint Laboratory. On the same day, a number of major projects were launched simultaneously. Among them, the National Data Bureaus "High-Quality Brain-Computer Interface Dataset Construction Project" has a total investment of 122 million yuan and a construction period of 24 months. It will focus on building multimodal high-quality datasets for 10 types of diseases, including stroke rehabilitation, spinal cord injury, Parkinsons disease, and epilepsy. Simultaneously, the Hubei Provincial Health and Biomedical New Technology Research and Transformation Special Project, "Key Technologies and Clinical Transformation of Closed-Loop Neuromodulation Brain-Computer Interface" and the "Optics Valley Brain-Computer Interface Data and Computing Power Platform" project were also launched.

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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