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January 1st - According to the China Development Bank (CDB), in 2025, CDB issued RMB 1.16 trillion in loans for urban construction, serving the improvement of urban functions and quality and the living environment. As of the end of 2025, CDBs outstanding loans in the urban construction sector reached RMB 6.3 trillion.January 1st - The National Data Work Conference was held in Beijing from December 29th to 30th. Zheng Shanjie, Secretary of the Party Leadership Group and Director of the National Development and Reform Commission (NDRC), attended the conference and delivered a speech. Liu Liehong, member of the Party Leadership Group of the NDRC and Director of the National Data Bureau, delivered a work report. Zheng Shanjie pointed out that in 2026, it is crucial to accurately grasp the new situation and requirements of data work, seize development opportunities, and focus on the goals and tasks of building a digital China, solidly promoting the high-quality development of the data sector. It is imperative to fully tap the potential of the digital economy, promote innovation in digital technology and services, optimize the software and hardware environment for digital consumption, and cultivate and strengthen the data industry. It is essential to adhere to both policy support and reform and innovation, emphasize planning guidance, improve and perfect the legal and regulatory system in the data field, and accelerate the cultivation of an open, shared, and secure national integrated data market. It is necessary to adhere to the close integration of investment in things and investment in people, take multiple measures to stimulate investment vitality, and accelerate the training of digital talent. It is essential to achieve both "flexible deregulation" and "effective management," coordinating high-quality development and high-level security in the data field. It is crucial to strengthen internal capabilities to meet external challenges and create a favorable external environment for data development.January 1st - President Trump has postponed tariff increases on upholstered furniture, kitchen cabinets, and bathroom vanities, slowing the pace of his tax increases, as voter discontent over price levels continues to escalate. On Wednesday evening, as Trump hosted his New Years Eve party at his Mar-a-Lago resort in Florida, the White House released a fact sheet regarding the presidential proclamation. According to the list, the higher tariffs, originally scheduled to take effect this Thursday, have been postponed until January 1, 2027. According to a proclamation released in September, Trump originally planned to raise tariffs on "certain wood-based upholstered products" from 25% to 30% and significantly increase tariffs on kitchen cabinets and bathroom vanities from 25% to 50% starting January 1st. The White House stated that the proclamation signed on Wednesday delayed this move, and the existing 25% tariffs will remain in place. The fact sheet indicates that the United States "continues productive negotiations with its trading partners regarding trade reciprocity and national security concerns regarding timber product imports," suggesting that these negotiations may reach an agreement, further delaying the imposition of the new tariffs.January 1st - According to Shenzhen Metro Group, data shows that by December 31, 2025, the total passenger volume of Shenzhens 18 urban rail transit lines will reach 13.05 million, exceeding 13 million for the first time. This represents a significant increase of 1.165 million passengers compared to the previous record set on the same day in 2024, a year-on-year increase of 9.8%.The White House: President Trump has adjusted import policies for timber, lumber, and their derivatives entering the United States.

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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