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On January 9th, Barclays Julien Lafargue stated in a report that tonights revisions to the US payroll data for the first few months will also be closely watched, as they should reveal the impact of the US government shutdown. Barclays doubts whether this data will significantly alter current market expectations that the Federal Reserve will keep interest rates unchanged in the first quarter. Nevertheless, the chief market strategist pointed out that the upcoming jobs report "is just one piece of the puzzle; the other pieces include inflation and the upcoming Supreme Court ruling on reciprocal tariffs."General Motors (GM.N) shares fell 2% in pre-market trading after the company announced a $6 billion impairment charge due to a decline in its electric vehicle business.According to the New York Times, Trump stated that owning Greenland has significant psychological implications.On January 9th, Premier Li Qiang chaired an executive meeting of the State Council. The meeting pointed out that revising the regulations on nature reserves and ensuring their coordination with laws and regulations such as the National Park Law will provide strong legal guarantees for the high-quality development of nature reserves. It is essential to adhere to the principle of prioritizing ecological protection and coordinating protection and development. In accordance with the characteristics and inherent laws of natural ecosystems, nature reserves should be protected holistically, restored systematically, and managed comprehensively. While ensuring ecological protection, public service functions should be enhanced, and a mechanism led by the government, with multi-party participation and social sharing should be established to achieve a unified approach to ecological protection, green development, and improvement of peoples livelihoods.According to the New York Times, Trump said he wants the United States to own Greenland.

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.


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