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On August 25th, according to the Guangxi Hydrological Center, from 8:00 AM on August 24th to 8:00 AM on August 25th, parts of Guilin, Wuzhou, Guigang, Chongzuo, Hezhou, Laibin, and Nanning experienced heavy to torrential rain, with localized areas experiencing extremely heavy rain. The highest daily rainfall was recorded in Daxijiang Town, Quanzhou County, Guilin City, at 151.5 mm. A total of 20 stations on 14 rivers in Guangxi, including the Zuojiang River and its tributaries Heishui River and Pingxiang River, the Mingjiang River and its tributaries Gongan River, Pailian River, Sizhou River, Pinger River, and Beilun River, experienced floods exceeding warning levels by 0.37 to 7.69 meters. The Yujiang River experienced its second flood of 2026. As of 8:00 AM on the 25th, 15 stations on 11 rivers in Guangxi, including the Yujiang River and its tributary Qinglong River, the Mingjiang River and its tributary Pailian River, the Zuojiang River and its tributary Kelan River, and the Pinger River, still exceeded warning levels by 0.36 to 7.68 meters.On August 25th, the Beijing Meteorological Observatory issued a yellow rainstorm warning signal at 09:00: Thunderstorms are expected from west to east in Beijing from the afternoon to the night of August 25th, with hourly rainfall exceeding 50 mm in most areas and cumulative rainfall exceeding 100 mm in some isolated areas. Mountainous and hilly areas may experience secondary disasters such as flash floods, mudslides, and landslides, while low-lying areas are prone to flooding. The Beijing Water Authority and the Beijing Meteorological Bureau jointly issued a yellow flash flood risk warning at 09:00: Flash floods are expected in mountainous areas of Beijing starting at 09:00 on August 25th (yellow risk). The Beijing Water Authority and the Beijing Meteorological Bureau jointly issued a blue flooding risk warning at 09:00: Flooding in the central urban area of Beijing is expected to be at a general risk starting at 09:00 on August 25th (blue risk).Japanese Chief Cabinet Secretary Minoru Kihara: We are still assessing the impact of the new US sanctions against Iran on Japan.On August 25th, Junzheng Co., Ltd. (03223.HK) opened flat on its first day of listing, with an opening price of 100.00 yuan, the same as the issue price.On Tuesday, August 25, the Hang Seng Index opened 116.89 points higher, or 0.46%, at 25,634.22; the Hang Seng Tech Index opened 8.26 points higher, or 0.18%, at 4,602.3; the H-share Index opened 29.15 points higher, or 0.34%, at 8,500.51; and the Red Chip Index opened 6.95 points higher, or 0.16%, at 4,254.58.

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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