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On September 19th, BlackRock Fund Management Co., Ltd. was granted Qualified Domestic Institutional Investor (QDII) status, becoming the first newly established foreign-invested mutual fund institution to receive this qualification. Against the backdrop of two expansions of QDII quotas this year and the first-ever approval of quotas for securities and fund institutions exceeding US$100 billion, the pace of foreign mutual fund participation in the cross-border investment market has further accelerated. Since the beginning of this year, the pace of QDII channel expansion has significantly accelerated. Data released by the State Administration of Foreign Exchange at the end of March showed that the cumulative approved QDII quota for the entire market increased by US$5.3 billion compared to the end of 2025, reaching US$176.169 billion. At the end of August, the State Administration of Foreign Exchange issued another US$6.84 billion in QDII quotas, involving 89 institutions. As of the end of August, the cumulative approved QDII quota for 196 institutions in the entire market rose to US$183.009 billion.September 19th - According to Sky News, Tata Steel, the UKs largest steelmaker, is seeking new government funding to address delays in its Port Talbot plant transformation project. Tata Steel has been in talks with the UK Department for Business, Innovation and Science in recent weeks to discuss a new support package. This request comes in addition to the £500 million grant the UK government provided to Tata Steel in 2023 for the construction of an electric arc furnace (EAF) in Port Talbot. The new EAF was originally scheduled to be operational by early 2028. However, due to delays in grid connection, Tata Steel has determined that the new EAF will now be unable to be operational by the end of 2028 or early 2029. The company calculates that increased project-related costs and lost sales due to the EAF delay will significantly increase overall costs. The specific amount of additional government funding Tata Steel is seeking is unclear, but industry sources suggest it could reach hundreds of millions of pounds.According to Sky News, Britains largest steel company is seeking new funding from the government.On September 19th, the 2026 New Cornerstone 50² Forum, hosted by Tencents Sustainable Social Value (SSV) Business Unit, the New Cornerstone Science Foundation, and Southern University of Science and Technology, was held in Shenzhen. Xi Dan, Senior Vice President and Chief Talent Officer of Tencent, stated at the forum that Tencents commitment to supporting basic scientific research remains unchanged, a long-term commitment that transcends commercial boundaries. Xi Dan believes that todays scientific research is exploring the boundaries of human cognition, far exceeding single disciplines. The interdisciplinary integration and the impact of artificial intelligence on scientific research are becoming sources of technological innovation.September 19th - According to RIA Novosti, Russian Deputy Foreign Minister Sergei Ryabkov stated on Saturday that Russia is unaware of the possibility that the United States might wish to sign an agreement with Moscow before the end of the conflict in Ukraine. The New York Times reported this week, citing two sources close to the peace negotiations, that the White House is currently considering signing a commercial agreement with Russia before Russia ceases its military operations in Ukraine. "I dont understand this kind of signal. It would be strange to receive such a signal, because what we are hearing so far is still the completely opposite position, namely, Lets reach an agreement on Ukraine first, then move on, and talk about everything else later. As they say, everything else will follow. This also applies to economic matters, including economic projects."

EUR/USD Is Anticipated To Fall Below 1.0950 Due To Market Optimism Regarding US Economic Prospects

Daniel Rogers

Apr 20, 2023 13:54

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The EUR/USD pair is expected to decline drastically below the near-term support level of 1.0950 during the Asian session. The major currency pair is attracting bids as the US Dollar Index (DXY) has shown a recovery move and surpassed the 102.00 level of resistance.

 

S&P500 futures have extended their losses during the Asian session in anticipation of the Federal Reserve's (Fed) decision to raise interest rates, which could undermine revenue guidance.

 

According to the Federal Reserve's (Fed) Beige Book minutes, economic activity is stable in the majority of districts. However, loans and advances to businesses and consumers have decreased due to stringent credit conditions imposed by commercial banks in the United States in order to prevent uncertainty in an unstable environment.

 

In the interim, Fed policymakers remain optimistic regarding the economic prognosis due to the labor market's tightness. As reported by Reuters, the president of the Federal Reserve Bank of St. Louis, James Bullard, advocated for the continuation of the central bank's policy tightening in view of the continued strength of labor market data. A Fed official added that the demand for labor has not yet diminished and that a robust labor market results in robust consumer spending.

 

Citi Group forecasts a fourth-quarter recession in the US economy due to the constrained US labor market. Previously, it was anticipated that the United States would enter a recession during the third quarter of 2023.

 

Investors are anticipating the release of Eurozone Consumer Confidence data. Preliminary Consumer Confidence (April) data is anticipated to improve from -19.2 to -18.5. This may be the result of persistently declining inflation in the Eurozone, which reduces the burden on households.


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