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Barclays lowered its price target for Murphy Oil (MUR.N) from $43 to $38.Barclays raised its price target for Airbnb (ABNB.O) from $125 to $150.On August 10th, the Shanghai Stock Exchange Listing Review Committee announced that it will hold its 47th meeting of 2026 on August 17th to review the IPO application of Guangdong Kerui Strontium CNC Technology Co., Ltd.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan aims to attract enterprises and institutions to establish artificial intelligence R&D centers, open-source platforms, and collaborative laboratories. It promotes the expansion of overseas access to computing power and basic large-scale models, and supports the export of model products such as intelligent agents and multimodal generation. It also encourages intelligent terminal enterprises, such as embodied intelligence, to expand new full-cycle service models. Furthermore, it supports the application of artificial intelligence in industries such as healthcare, education, and professional services. The plan also calls for successfully hosting the World Artificial Intelligence Conference and global developer events, and accelerating the construction of the headquarters of the World Artificial Intelligence Cooperation Organization. Support will be provided for Pudong New Area to build a pilot zone for innovative applications of artificial intelligence, and for Xuhui District to build the "Model Speed Space" large-scale model innovation ecosystem community. Finally, the plan explores the establishment of a global governance system for artificial intelligence.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan emphasizes improving service trade supporting the integrated circuit industry. It promotes the integration of integrated circuit design and manufacturing, and establishes an international joint design center in the Lingang New Area. The plan supports integrated circuit companies in achieving breakthroughs across the entire industry chain and cultivating a number of internationally competitive leading enterprises. It stipulates that imported testing consumables used within comprehensive bonded zones will be reimbursed based on actual testing consumption, and that pilot projects for integrated circuit testing outside comprehensive bonded zones will be subject to bonded supervision. The plan also supports integrated circuit companies in conducting international trade distribution business.

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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