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On January 11th, it was reported that on the morning of January 7th, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Bureau of Data Science and Technology, chaired a symposium on data property rights registration. At the meeting, Jiang Ying, President of the Beijing Internet Court, Professor Chang Pengao of Peking University, officials from data management departments of Jiangsu Province, Hangzhou City, Qingdao City, and Shenzhen City, and representatives from companies such as China Mobile, China Southern Power Grid, Beijing International Big Data Exchange, Tencent Group, Haitian Ruisheng, and Taiyi Technology offered their opinions and suggestions on improving the data property rights registration system. Establishing a data property rights registration system is an important measure to implement the data property rights system. The National Bureau of Data Science and Technology will further study and learn from the experiences and practices of registration systems in other fields, continuously absorb opinions and suggestions from all sectors of society, and innovate to establish a registration system adapted to the characteristics of data, so as to better promote the circulation and use of data and release the value of data elements. The main officials from the Policy and Planning Department and the Data Resources Department of the National Bureau of Data Science and Technology attended the meeting.Iranian President Peshizian stated that the United States and Israel are directing "rioters" to create instability in Iran.Iranian President Peshiziyan urged the public to distance themselves from "rioters and terrorists."Iranian President Pezechzian said that the authorities are ready to listen to the voices of the people.Iranian President Pezechzian stated that the government is determined to address the economic problems of its people.

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

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