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The local governor said that the area around the Russian Baltic port of Uster-Luga was damaged by a drone attack.On August 14th, LG Electronics announced plans to launch a new generation of bipedal humanoid robots in the first quarter of 2027, based on the NVIDIA robotics platform. The robot will be powered by the NVIDIA Jetson Thor robotic chip module and developed using the NVIDIA Isaac GR00T humanoid robot base model and the Holoscan for Robotics robot safety system. LG plans to integrate the technology and capabilities of its major subsidiaries into this robot, including actuators from LG Electronics, sensors from LG Innotek, and batteries from LG Energy Solution. Furthermore, the two companies will collaborate comprehensively across three main areas: robotics, AI factories, and mobility.August 14th - According to Qingdao Customs statistics, in the first seven months of this year, Qingdaos total import and export volume reached 554.87 billion yuan, accounting for 26.1% of the provinces total import and export value; a year-on-year increase of 6.4%, 2.1 percentage points higher than the provincial average. Specifically, exports reached 337.71 billion yuan, a year-on-year increase of 8.3%; imports reached 217.16 billion yuan, a year-on-year increase of 3.5%. In July alone, Qingdaos total import and export volume reached 87.75 billion yuan, a year-on-year increase of 10.5%. Specifically, exports reached 56.01 billion yuan, a year-on-year increase of 16.3%; imports reached 31.74 billion yuan, a year-on-year increase of 1.5%.According to Jinlianchuang Futures, the price adjustment of refined oil products will be implemented as scheduled at 24:00 on August 14. The price reduction in this round is as follows: gasoline 230 yuan/ton, diesel 220 yuan/ton, which translates to a price per liter of 0.17 yuan for 89#, 0.18 yuan for 92#, 0.19 yuan for 95#, and 0.19 yuan for 0#.August 14th - The new round of domestic refined oil price adjustments will begin at 24:00 on August 14th. According to various institutions, refined oil prices will see their fifth reduction this year. Liu Bingjuan, a refined oil analyst at Longzhong Information, explained that as of August 12th, the average price of benchmark crude oil during the cycle was $82.14 per barrel, a decrease of 4.90% compared to the previous cycle. It is estimated that when the price adjustment window opens, the theoretical reduction in refined oil prices will be around 210 yuan per ton, equivalent to approximately 0.15 yuan per liter. For a 70-liter fuel tank, this means private car owners will save about 11 yuan when filling up.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

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During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


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