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February 10th - As of 2:30 PM closing, the Shanghai Gold futures contract rose 1.00% to 1127 yuan/gram, the Shanghai Silver futures contract rose 5.24% to 20934 yuan/kilogram, and the SC Crude Oil futures contract rose 2.13% to 471 yuan/barrel.The White House: The United States and Bangladesh have pledged to address non-tariff barriers in Bangladesh.The White House: The United States has pledged to establish a mechanism that would allow certain textile and apparel products from Bangladesh to enjoy zero-reciprocal tariffs.The White House announced that the United States and Bangladesh have reached an agreement on a reciprocal trade deal. The United States will reduce tariffs on goods originating from Bangladesh to 19%.February 10th - According to the Wall Street Journal, the White House is locked in a stalemate with Congress over a housing proposal by President Trump that would ban Wall Street investors from buying single-family homes. Trump administration officials have been pressuring Republicans in recent weeks to include the investor ban as an amendment to the Century 21 Housing Act, currently progressing in both houses of Congress, but lawmakers in both houses are resisting its inclusion. Any such amendment could undermine the Century 21 Housing Act and these two months-long, bipartisan housing legislations. The bill in Congress focuses on stimulating housing supply, but Trump has reservations about expanding supply, and his housing plan announced this year focuses more on stimulating demand. However, key Republican lawmakers are not currently inclined to do so. Representative Hill, chairman of the House Financial Services Committee, rejected the White Houses request to include the amendment in the Century 21 Housing Act. Republicans on the Financial Services Committee are also generally skeptical of the investor ban proposal, arguing that it violates free market principles and property rights.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

 截屏2022-08-05 上午9.48.51.png

 

Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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