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According to three security sources, Syrian government forces have captured the Conoco gas field and the largest oil field in the east, Omar.On January 18th, Snowman Group issued an announcement stating that its stock price had experienced abnormal fluctuations, with a cumulative daily closing price deviation exceeding 20% over two consecutive trading days (January 15th and 16th). After verification, no corrections or supplements were found to the previously disclosed information, the companys operations are normal, and there have been no significant changes in the internal or external environment. The company, its controlling shareholder, and actual controller, Lin Rujie, have no undisclosed material matters, and he did not trade the companys stock during the period of abnormal fluctuations. The company has not violated any information disclosure regulations and reminds investors to rely on information disclosed through designated media and to invest rationally.January 18th - According to a report in The Washington Post on Sunday, the U.S. Department of Defense has ordered approximately 1,500 active-duty U.S. troops to prepare for deployment to Minnesota, the state most affected by protests against government deportation actions. The newspaper, citing Department of Defense officials, stated that the military has placed relevant units on "ready to deploy" status in case the violence in the state escalates further. However, it remains unclear whether these troops will actually be deployed. On Thursday, Trump threatened to invoke the Insurrection Act to deploy troops if state officials did not stop protesters from attacking immigration officials. This comes after a significant increase in the number of Immigration and Customs Enforcement (ICE) personnel.On January 18th, a spokesperson for the South Korean presidential office stated at a televised press conference on Sunday that South Korea will strive to secure more favorable terms for the US tariffs on imported memory chips. When asked about the Trump administrations announcement of tariffs on artificial intelligence chips, the official stated that the country released a joint situation report last year regarding its trade agreement with the US, which included provisions to ensure that South Korea would not be treated more unfavorably than its main competitors when facing US tariffs on imported chips. On Saturday, the South Korean trade minister stated that the impact of US tariffs on certain high-end computing chips on South Korean companies would be limited.January 18th - According to Yonhap News Agency, the joint South Korean military and police investigation team responsible for investigating the alleged "intrusion into North Korea" by civilian drones summoned a man in his 30s on January 16th as a civilian suspect. The investigation team believes the man is involved in manufacturing the drone in question.

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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