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The Shenzhou-23 astronaut crew will undertake more than 100 new scientific and applied projects during their time in orbit.May 23 - A one-year space stay will implement my countrys first space human research program, verifying the ability to ensure the health of astronauts during long-term flights.May 23 - Adaptive improvements have been made to the space debris protection of the Shenzhou-23 manned spacecrafts portholes, enhancing its ability to protect against space debris.May 23 - The Shenzhou-23 astronaut crew is my countrys first crew composed of astronauts from the third and fourth batches of astronauts. One of the astronauts will conduct a one-year on-orbit stay experiment.May 23 – A press conference for the Shenzhou-23 manned spaceflight mission was held this morning (May 23) at the Jiuquan Satellite Launch Center. The spokesperson stated that, according to plan, after entering orbit, the Shenzhou-23 manned spacecraft will use an autonomous rapid rendezvous and docking mode to dock with the radial port of the Tianhe core module, forming a three-spacecraft, three-module assembly. Currently, the quality of the spacecraft and rocket flight products is under control, the astronaut crew is in good condition, ground system facilities and equipment are operating stably, and the space station assembly is in normal condition, meeting the conditions for carrying out the launch mission. The Shenzhou-21 astronaut crew returned to the Dongfeng Landing Site after completing their in-orbit rotation with the Shenzhou-23 astronaut crew.

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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