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On Thursday, January 8, the Hong Kong Hang Seng Index opened down 156.17 points, or 0.59%, at 26,302.78; the Hang Seng Tech Index opened down 24.99 points, or 0.44%, at 5,713.53; the H-share Index opened down 39.12 points, or 0.43%, at 9,099.63; and the Red Chip Index opened down 5.62 points, or 0.14%, at 4,109.34.Hong Kong stocks opened lower, with the Hang Seng Index down 0.59% and the Tech Index down 0.44%. Newly listed stocks Tianshu Zhixin (09903.HK) rose approximately 31%, Jingfeng Medical (02675.HK) rose over 36%, and Zhipu (02513.HK) rose over 3%.Hang Seng Index futures opened down 0.53% at 26,334 points, a discount of 125 points.According to the Financial Times, US oil companies have warned that guarantees are required to invest in Venezuela.On January 8th, the main contract for container shipping (Europe route) fell by over 7% in early trading. A research report from Yide Futures on January 8th indicated that the price surge and subsequent pullback was due to profit-taking by some investors and shipping companies lowering their online freight rates for mid-to-late January, impacting market sentiment and causing a significant drop in the index. Specifically, CMA CGM lowered its 20GP and 40GP TEU rates by $135 and $250 respectively; Evergreen Marine lowered its rates by $100 and $200 to $2015/TEU and $3030/FEU respectively; and Maersk lowered its WK4 Shanghai-Gdansk high-cube freight rate to $2420. Market research indicates that spot bookings for mid-to-late January are strong, but current bookings for late January are lower than at the end of December. Shipping companies are further supporting prices primarily to encourage pre-shipment. If subsequent cargo volumes fall short of expectations, spot freight rates are expected to reach a turning point at the end of January. With expectations of concentrated shipments before the Spring Festival, the marginal support logic remains, therefore, the short-term outlook for the 02 contract is for continued high-level fluctuations. (This content and opinion are for reference only and do not constitute any investment advice.)

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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