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On April 6, the Yangtze River Delta Railway welcomed the peak of the Qingming Festival return trip, with an estimated 4.1 million passengers.April 6th, two sources said that the OPEC+ ministerial meeting held on Saturday maintained its oil production policy unchanged and was discussing compliance with production cut targets and plans for some member countries to compensate for production exceeding quotas.On April 6, Ukrainian President Volodymyr Zelensky said on social media on April 5 local time that French Chief of the General Staff Thierry Burkhard and British Chief of Defense Staff Admiral Tony Radakin met with the Ukrainian military in Kiev. Zelensky said that all parties are making every effort to ensure Ukraines security, and the negotiations on the deployment of European partner security teams have made substantial progress and initial details.On April 6, the Russian Ministry of Defense issued a notice on the 5th saying that in the past 24 hours, the Ukrainian army had carried out 14 attacks on Russian energy infrastructure, resulting in power outages in Bryansk Oblast, Belgorod Oblast and other places, and residents were evacuated. The Russian side said that it has launched emergency repair work and strengthened air defense deployment for key facilities. In response, the General Staff of the Ukrainian Armed Forces responded that the Russian statement was not true.On April 6, Meta Platforms (META.O) released a new set of artificial intelligence models in its Llama series, Llama 4, on Saturday. There are a total of four new models in the series: Llama 4 Scout, Llama 4 Maverick and Llama 4 Behemoth. Meta said that all these models have been trained with "a large amount of unlabeled text, image and video data" to give them "extensive visual understanding capabilities." Meta AI has been updated to use the Llama 4 model in 40 countries. Currently, multimodal features are only available in English in the United States.

GBP/USD expects potential gains above 1.2250 in advance of UK inflation data

Daniel Rogers

Jan 16, 2023 10:55

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The GBP/USD pair is struggling to extend advances above the immediate resistance level of 1.2250 in the early Asian session. The Cable had selling pressure while repeatedly overcoming the aforementioned resistance level, but it is currently likely to extend the uptrend due to a significant increase in market participants' risk appetite.

 

A four-day winning streak in the S&P 500 suggests a relatively bullish market sentiment. Investors pour capital into perceived-risk assets while dumping perceived-safety assets. Surprisingly, rates on 10-year US Treasury securities rose to 3.50 percent. The US Dollar Index (DXY) was able to minimize its drop at around 101.76.

 

This week, the Pound Sterling will be affected by the United Kingdom's announcement of inflation data on Wednesday. The headline Consumer Price Index (CPI) (Dec) is anticipated to decline to 10.6% from 10.7% before. While the figures for the core price index, which includes oil and gas prices, may rise from 6.3% to 6.6% over the same time period.

 

It indicates that UK inflation has become more enduring, and the Bank of England (BOE) will be required to continue raising interest rates. Catherine Mann, a member of the BOE, remarked that the central bank need not be concerned about the possibility of overtightening during its interest rate-raising cycle.

 

Investors anticipate the publication of Producer Price Index (PPI) data in the United States. The market expects headline factory gate prices of goods and services to decrease from 7.4% to 6.8% in December. Additionally, the core PPI may fall to 5.9% from 6.2% in a comparable era.