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January 4th - According to data released by the Ministry of Transport on January 4th, the total number of cross-regional passenger trips during the 2026 New Years Day holiday (January 1st to 3rd) reached 595 million, with an average of 198 million trips per day, representing a 19.62% increase compared to the same period in 2025.Starlink: Starlink will provide free broadband service to the Venezuelan people until February 3.Delta Air Lines: Will resume flights to and from 13 previously affected airports in the Caribbean.January 4th - Legal experts question whether the US would face any substantial accountability even if its actions in Venezuela were illegal, citing the lack of enforcement mechanisms under international law. Jeremy Paul, a professor of constitutional law at Northeastern University, stated, "Its difficult to see any legal body able to impose actual penalties on the government."On January 4th, international law experts stated that the Trump administrations claim that the operation was both a targeted law enforcement mission and a prelude to long-term US control over Venezuela confounds legal issues. Jeremy Paul, a professor of constitutional law at Northeastern University, said, "You cant say its a law enforcement operation and then turn around and say we need to govern this country. That simply doesnt make sense." Legal experts believe that drug trafficking and gang violence are considered criminal activities and do not meet the internationally recognized standards for instigating armed conflict, therefore there is no justification for military action. Matthew Waxman, a law professor at Columbia University specializing in national security law, stated, "A criminal prosecution alone is insufficient to authorize the use of military force to overthrow a foreign government, and the government is likely to attribute this to the theory of self-defense."

After recovering from 0.8600 prior to ECB Lagarde's speech, the EUR/GBP pair continues to advance

Daniel Rogers

Dec 08, 2022 15:31

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The EUR/GBP pair has strengthened its rebound to roughly 0.8615 during the Asian session. As investors moved their focus to Christine Lagarde's speech for the European Central Bank, the cross rebounded well after touching Wednesday's low at 0.8600. (ECB).

 

The ECB President's comments will provide fresh impetus for the anticipated monetary policy adjustments at the December monetary policy meeting. Despite the fact that ECB policymakers believe the central bank has imposed a significant deal of pressure on interest rates and that a neutral rate is close at hand, a December rate hike is more likely due to Eurozone inflationary pressures.

 

The median consumer inflation forecast for the next 12 months jumped from 5.0% to 5.4%, according to a survey conducted by the ECB. Inflation forecasts for the next three years remain unchanged at 3%. Therefore, markets should anticipate a hawkish statement on interest rate policy from the ECB president.

 

The monthly Retail Sales statistics declined by 1.8% this week, although analysts had projected a 1.7% decline. In addition, annual Retail Sales declined by 2.7% versus the consensus projection of a 2.6% decline. In the absence of other variables, a decline in consumer spending indicates that inflation will soon decelerate.

 

The escalating food supply problem in the United Kingdom is driving already high food inflation, resulting in an increase in inflationary expectations. Rising input costs and labor constraints are producing a food supply shortage, which is anticipated to increase food inflation from its current 12.4% level. This might exacerbate the decline in the British economy and have repercussions for the pound.


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