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On February 3rd, Li Xunlei, chief economist of Zhongtai Securities, recently shared his views on the impact of the housing and stock markets on consumption and key policy areas. He pointed out that rising housing prices can effectively boost consumption, while a bull market in stocks has a less significant effect on consumption. Li Xunlei analyzed that while it is often believed that a rising stock market will create a wealth effect, thereby promoting consumption, the actual impact is limited. Although the total number of stock accounts is approximately 130 million, the number of active accounts is only around 70 million, which is not high relative to my countrys population of 1.4 billion. In contrast, the housing market accounts for about 60% of total household assets and is linked to 20 to 30 upstream and downstream industries, with a long industrial chain and a significant multiplier effect. Therefore, once the housing market recovers, its impact on consumption and the overall economy is more pronounced. Li Xunlei emphasized that to achieve stable development of the housing market, fiscal and monetary policies must work together to provide strong support.European Commissioner Albuquerque: Europe must maintain control over the key technologies that underpin our economy.On February 3, the Ministry of Industry and Information Technology and eight other departments issued a notice regarding the "Guidelines for the Security of Cross-border Transfer of Automotive Data (2026 Edition)." Experts also stated that the "Guidelines for the Security of Cross-border Transfer of Automotive Data (2026 Edition)" applies to the provision of automotive data by automotive data processors to entities outside of my country, specifically encompassing three categories. The first category involves automotive data processors transferring data collected and generated during their operations in China to entities outside of China. The second category involves data that exists domestically but can be accessed, retrieved, downloaded, and exported by overseas institutions, organizations, or individuals. The third category includes other activities that comply with the relevant provisions of the "Personal Information Protection Law of the Peoples Republic of China," specifically processing the personal information of domestic natural persons overseas.Italys FTSE MIB index rose 1.00% on the day.The German DAX index rose 1.00% on the day, breaking through 25,000 points.

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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