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Algerias Remote Sensing Satellite-3B was successfully launched.On January 31st, a research report from CITIC Securities pointed out that the Trump administrations domestic and foreign policies are expected to profoundly impact global markets this year. CITIC Securities believes that one of the Trump administrations core objectives is to push down long-term interest rates through personnel changes at the Federal Reserve and a series of initiatives to boost the traditional economy and support the midterm elections. Success would be beneficial for global stock markets and commodities. However, its foreign policy focuses on domestic affairs and voter demands, and may only have a short-term impact on major asset classes. The extent of the fiscal deficit expansion remains uncertain, which is beneficial for gold and non-ferrous metals. The midterm election results are crucial; although Trump has tried his best to gain an advantage, a Republican defeat would be a short-term negative for risk assets other than US Treasuries.On January 31, the Civil Aviation Administration of China (CAAC) held a video conference on January 30 to deploy the 2026 Spring Festival travel rush work. The meeting focused on studying and implementing the important instructions and directives of General Secretary Xi Jinping on Spring Festival travel rush and work safety, and mobilized and deployed the 2026 civil aviation Spring Festival travel rush work. CAAC Deputy Director Ma Bing attended the meeting and delivered a speech. The meeting emphasized the need to solidify work responsibilities and go all out to ensure the success of all aspects of the Spring Festival travel rush work. It stressed implementing all safety requirements for the end of the year and the beginning of the new year, as well as winter operations, focusing on key safety aspects, strengthening the investigation and rectification of hidden dangers and supervision and inspection, and ensuring aviation safety; providing special Spring Festival services, strengthening support for key groups, handling irregular flights properly, standardizing market prices, and optimizing the passenger travel experience; strengthening market dynamic monitoring and optimizing Spring Festival flight arrangements; ensuring sufficient and capable on-duty personnel, properly handling emergencies, and providing care and support for frontline staff.U.S. Border Affairs Director Homan: My message is consistent with the position that has been in place since President Trump took office on January 20: we will conduct large-scale deportations, but will prioritize arresting criminals and those who threaten public safety.On January 31, it was reported that on January 30 local time, the Director of the White House Office of Management and Budget issued a memo to department heads instructing agencies whose funding was due at midnight to begin preparing for a government shutdown. These agencies included the Department of Defense, Department of Homeland Security, State Department, Treasury Department, Department of Labor, Department of Health and Human Services, Department of Education, Department of Transportation, and Department of Housing and Urban Development. Russ Vought stated, “Given that Congress is clearly unable to complete its work before the funding expires, affected agencies should now implement orderly shutdown plans. Employees should report to work on time, fulfill their next regular work duties, and conduct orderly shutdown activities. The government will continue to work with Congress to address recently raised issues and complete the funding work for fiscal year 2026. We hope this shutdown will not be too long.”

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

Daniel Rogers

Aug 05, 2022 14:46

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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.