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On January 4th, Amena Bakr, a reporter for Energy Intelligence Group, stated on social media that OPEC+ will hold a meeting at 1 PM Vienna time today (8 PM Beijing time tonight). The market widely expects the policy to remain unchanged, meaning no increase in production in the first quarter. Its important to note that OPEC+ will not react to changes in the political situation unless there are immediate supply fluctuations or fundamental shifts. Indeed, Venezuela possesses the worlds largest proven oil reserves, but for those American international oil companies that might risk venturing into this capital-intensive "minefield," we can only wish them good luck.On January 4th, the State Council issued the "Action Plan for Comprehensive Management of Solid Waste," further promoting the comprehensive management of phosphogypsum. The plan adopts a "one-pronged approach per phosphogypsum storage facility" to investigate and rectify environmental risks and hazards. It strengthens environmental management in the storage, transportation, and utilization of phosphogypsum, strictly enforces pollution control technical specifications for phosphogypsum utilization and harmless storage, and severely punishes environmental violations related to phosphogypsum according to law. By 2027, Yunnan, Hubei, Guizhou, Sichuan, Anhui, Chongqing, and other regions will have completed the rectification of existing phosphogypsum storage facilities.On January 4th, the State Council issued the "Action Plan for Comprehensive Management of Solid Waste," aiming to improve the legal and regulatory system. The plan promotes the compilation of an ecological and environmental code and the revision of the Circular Economy Promotion Law. It also encourages polluting entities to disclose environmental information on industrial solid waste in accordance with the law and incorporate this information into environmental credit evaluation. The plan revises regulations and rules concerning the recycling and disposal of waste electrical and electronic products, hazardous waste management permits, and construction waste. It also accelerates the promulgation of management measures for the comprehensive utilization of power batteries for new energy vehicles. Furthermore, it improves the statistical survey system for bulk solid waste and renewable resources, and strengthens the statistical and evaluation system for the circular economy.On January 4th, the State Council issued the "Action Plan for Comprehensive Management of Solid Waste." The Action Plan proposes that by 2030, significant results will be achieved in the special rectification of solid waste in key areas, historical stockpiles of solid waste will be effectively controlled, the high incidence of illegal dumping and disposal will be curbed, the annual comprehensive utilization of bulk solid waste will reach 4.5 billion tons, the annual recycling of major renewable resources will reach 510 million tons, and the comprehensive management capacity and level of solid waste will be significantly improved.On January 4th, BYD announced that it exported a total of 133,172 new energy vehicles in December 2025; the total installed capacity of power batteries and energy storage batteries for new energy vehicles in December 2025 was approximately 27.352 GWh, and the cumulative installed capacity in 2025 was approximately 285.634 GWh.

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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