• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 11th – At a regular press conference held by the State Council Taiwan Affairs Office on February 11th, spokesperson Zhu Fenglian stated in response to a reporters question that the DPP authorities are attempting to seek "independence" by relying on foreign powers, and are unprincipledly fawning over foreign countries and selling out Taiwan without any bottom line in the so-called Taiwan-US trade negotiations. If the relevant reports are true, Taiwans traditional industries will be severely impacted, and the food safety of the people will be completely unprotected. The DPP authorities are allowing the United States to take whatever it wants, sacrificing the prospects for Taiwans industrial development and harming the interests and well-being of the Taiwanese people, and will inevitably be rejected by the Taiwanese people.According to Punchbowl: The U.S. House of Representatives rejected a rule designed to prevent lawmakers from challenging Trumps tariff resolution.February 11th - According to foreign media reports, Song Jae-hyuk, President and Chief Technology Officer of Samsung Electronics chip business, stated on Wednesday that Samsung Electronics has returned to the top of the memory industry thanks to its next-generation HBM4 technology, a statement that reversed the companys stock price decline. Song made this unusually firm statement at SemiconKorea in Seoul. Previously, a Samsung executive publicly supported the "Samsung comeback" in January, further reinforcing market expectations that Samsungs next-generation HBM technology would be adopted by AI chip leader Nvidia. Samsung plans to begin mass production of HBM4 this month, with Nvidia expected to be its first customer.On February 11, the State Administration for Market Regulation (SAMR) issued a centralized notification to designated CCC certification bodies and laboratories regarding the results of the 2025 "random inspection and public disclosure" of designated CCC certification implementation bodies. The inspection uncovered 472 issues involving 51 institutions. Major issues included reduced or omitted certification procedures, insufficient testing and factory inspection conclusions to support certification decisions, lax oversight of key technical information in certification assessment, failure to convert certificates according to regulations, inadequate testing capabilities, and insufficient standardization in daily testing processes and management. The SAMR has already issued decisions to revoke or suspend some of the designated qualifications of the aforementioned institutions, imposed economic penalties, issued administrative warnings, and ordered them to rectify the issues within a specified period. All designated CCC certification bodies and laboratories are required to firmly establish a risk awareness, strictly implement their primary responsibilities, and effectively improve their professional capabilities to prevent various potential risks in CCC certification through full-chain supervision.On February 11th, according to Futures News, the overnight SHIBOR was 1.3660%, up 0.40 basis points; the 7-day SHIBOR was 1.5230%, down 0.80 basis points; the 14-day SHIBOR was 1.6000%, down 0.40 basis points; the 1-month SHIBOR was 1.5511%, up 0.01 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.

GBP/USD to Test 1.2260; Downside Remains Favored Due to Rising US CPI; UK GDP Watched

Daniel Rogers

May 12, 2022 10:13

The GBP/USD pair has broken to the negative from its week-long consolidation between 1.2260 and 1.2400. The asset may test the lower range of consolidation to confirm the bears' strength, but the downside remains intact as rising US inflation data has increased the likelihood of a massive rate hike by the Federal Reserve (Fed) in June.

 

Wednesday's 8.3 percent reading for the US Consumer Price Index (CPI) surpassed the 8.1 percent forecast by theștiindștiind. Market analysts anticipated that the Fed's June monetary policy would include a 50 basis point (bps) interest rate hike in response to the US CPI reading of 8.1%. Now, a higher-than-anticipated US inflation rate has increased the likelihood of a 75 basis point rate hike. This has shook the foreign exchange market, and investors are selling risky assets like there is no tomorrow.

 

In the meantime, the US dollar index (DXY) is trying to maintain its position above 104.00, although the upside remains intact. Regarding the British pound, investors anticipate the announcement of Gross Domestic Product (GDP) figures. The quarterly GDP estimate for the United Kingdom is predicted to be 1 percent, compared to the previous estimate of 1.3%, while the annual estimate is projected to be 9 percent, compared to the previous estimate of 6.6%. A higher-than-anticipated UK GDP may protect the pound from additional losses, whilst a weaker-than-anticipated figure would accelerate the asset's decline.

GBP/USD

image.png