EUR/USD 1.14378
0.051%
Gold 4174.79
1.240%
Oil 68.721
0.443%
USD/JPY 161.350
0.153%
GBP/USD 1.33542
0.063%
GBP/JPY 215.473
0.229%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 4th - A Reuters survey showed that OPEC crude oil production rebounded sharply in June, increasing by approximately 3.3 million barrels per day to 19.43 million barrels per day, a significant rebound from the more than two-decade low reached in May, but still far below quota levels. This production increase was mainly driven by the resumption of supply from Gulf countries, with Kuwait seeing the largest increase, followed by Iran, Saudi Arabia, and Iraq. Nigeria and Libya also saw slight increases in production. The UAE withdrew from OPEC on May 1st and is no longer included in the statistics. The report noted that the previous war with Iran and the de facto blockade of the Strait of Hormuz had caused supply disruptions, but the subsequent lifting of restrictions on ships at Iranian ports by the United States helped to restore some production. Although OPEC+ had planned to increase production in June, it could not be fully implemented due to the war. Overall, global crude oil supply is recovering, but has not yet returned to normal levels.Iranian Parliament Speaker Ghalibaf: The United States must "accept the established realities in the trade arena."Hang Seng Index futures closed down 0.2% at 23,253 points in overnight trading, a discount of 97 points.On July 4th, Labour politician Andy Burnham stated that if he succeeds Starmer as Prime Minister, he will not dissolve Parliament early and call a new general election. Instead, he will continue to implement Labours campaign promises from the 2024 general election, including maintaining the triple lock on pensions. He also outlined several policy positions: advocating for stronger regulation in the public service sector, even considering nationalization in some industries; supporting further improvements in UK-EU relations; willing to negotiate with countries including Afghanistan to repatriate rejected asylum seekers; supporting electoral reform; ensuring adequate funding for defense investment programs; and explicitly stating continued firm support for Ukraine. If the party nomination proceeds smoothly and without competition, he could become Labour leader in mid-July and subsequently become Prime Minister.July 4th - As of 2:30 PM closing, the Shanghai Gold futures contract rose 0.81%, the Shanghai Silver futures contract rose 1.61%, and the SC crude oil futures contract fell 0.16%.

As Japan plans a Cabinet reshuffle, GBP/JPY is aiming for a two-week high near 169.00

Alina Haynes

Nov 22, 2022 15:03

 截屏2022-11-22 上午10.04.12.png

 

During the Tokyo trading session, the GBP/JPY pair has extended its recovery and is seeking to cross the 168.00 threshold. As market sentiment improves, the cross approaches a two-week high close to 169.00. Despite projections of a slower pace of rate hikes by the Bank of England, the British pound is expected to continue its upward trajectory (BOE).

 

The public is still arguing if the Autumn Statement has restored confidence and capability in the UK's economic prospects or has worsened the forecasted picture.

 

Shell, a provider of renewable energy and energy solutions, is reconsidering its expansion plans in the British energy market after the incoming UK government announced windfall taxes. Prime Minister Rishi Sunak and Chancellor Jeremy Hunt increased the tax rate from 25% to 35% in the long-awaited "memorial service for Trussonomics."

 

The expanded tax mentioned in the Chancellor's Autumn Statement is leading Shell to reconsider a number of ongoing projects, including North Sea investments and renewable energy programs, according to David Bunch, chairman of Shell UK.

 

UOB economists maintain their prediction of a 50 basis point (bps) change in the United Kingdom's interest rate at its monetary policy meeting in December. They feel the BOE still has work to do, given that Hunt has decided to delay the majority of the severe repercussions of fiscal consolidation, which means fiscal policy will do little to combat inflation."

 

Prime Minister Fumio Kishida of Japan told Mainichi that investors in Tokyo are becoming anxious because the Japanese government expects to reshuffle its Cabinet before the end of the year. This may result in a period of Japanese yen volatility. On the economic front, Thursday's release of the PMI results is anticipated by investors. The Jibun Bank Manufacturing PMI is considered stable at 50.7. While Services PMI is expected to decline significantly to 53.1%, Manufacturing PMI is expected to climb marginally to 54.2%.

Suggestion