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On June 9th, it was reported that on June 7th, Xu Shubiao, General Manager of State Power Investment Corporation (SPIC), met with Liang Huiling, Deputy Secretary of the Heilongjiang Provincial Party Committee and Governor of Heilongjiang Province, in Harbin to exchange views on deepening cooperation in the energy sector and jointly promoting the revitalization and development of Heilongjiang. Since the beginning of this year, SPIC has held working talks with Inner Mongolia, Qinghai, Henan, Hainan, Gansu, Jilin, Fangchenggang City of Guangxi Zhuang Autonomous Region, Xilingol League of Inner Mongolia Autonomous Region, Zhanjiang City of Guangdong Province, and the Hengqin-Macau Greater Bay Area in Guangdong Province, exchanging views on jointly planning key cooperation projects during the 15th Five-Year Plan period. Heilongjiang Province is willing to work with SPIC to deepen cooperation between the central and local governments and achieve win-win development in serving national strategies. This includes planning and constructing heavy-duty gas turbine projects, deeply participating in Heilongjiangs electricity-computer synergy pilot project and zero-carbon industrial park construction, and actively developing biomass straw and livestock manure resource utilization projects.According to the General Administration of Customs, Chinas crude oil imports in May 2026 totaled 33.081 million tons, compared to 38.471 million tons in April. From January to May 2026, Chinas crude oil imports totaled 218.364 million tons, compared to 229.457 million tons in the same period of 2025.According to the General Administration of Customs, Chinas refined oil exports in May 2026 reached 3.368 million tons, compared to 3.119 million tons in April. From January to May 2026, Chinas refined oil exports totaled 19.233 million tons, compared to 21.843 million tons in the same period of 2025.June 9th - According to customs data, in the first five months of the year, my countrys total trade with ASEAN reached 3.52 trillion yuan, a 16.6% increase; trade with the EU reached 2.53 trillion yuan, a 10.3% increase; and trade with the US reached 1.61 trillion yuan, a 6.6% decrease. During the same period, my countrys total imports and exports with countries participating in the Belt and Road Initiative reached 10.57 trillion yuan, a 13.6% increase.June 9th - A COVID-19 report released by the Democratic Republic of Congos (DRC) Ministry of Health on June 8th showed that the overall Ebola outbreak in the country continues to rise. As of June 7th, the cumulative number of confirmed cases in this outbreak had risen to 550, with 101 deaths. The report also indicated that the total number of recovered cases in the DRC has increased to 19. The report stated that while the recent number of newly reported cases has slightly decreased, this may be related to lag in updating testing data and does not yet indicate that the spread of the epidemic has weakened.

Despite the fact that Eurozone interest rates are anticipated to peak sooner, the EUR/GBP looks to have breached over 0.8630

Daniel Rogers

Dec 07, 2022 15:12

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The EUR/GBP pair has had a stronger recovery from 0.8580 during the Asian session, approaching the pivotal 0.8630 level. Despite the European Central Bank (ECB) being close to reaching an interest rate high, there has been strong demand for Euro bulls. Thus, the monetary policy meeting scheduled for next week will be of utmost significance.

 

The cross is attempting to break strongly above the significant barrier of 0.8630 for the fourth time this week. The hawkish remarks made by ECB policymakers are holding back the euro bulls.

 

"There will be another rate hike," said Constantinos Herodotou, governor of the Central Bank of Cyprus, "but we are very near to neutral." The European Central Bank's chief economist, Phillip Lane, is unsure as to whether the inflation peak has already occurred or will take place in 2019. He stated that although "much has already been done," he does not rule out more rate increases.

 

Investors are currently looking forward to Christine Lagarde's speech, which will be revealed on Thursday. The ECB President is likely to lower her inflation projection in her future statement in light of the poor retail sales numbers.

 

In contrast to expectations for a 1.7% loss, this week's Eurozone retail sales numbers showed a 1.8% decline. Aside from that, annual economic data contraction came in at 2.7% as opposed to the 2.6% consensus expectation. A decline in household demand demonstrates the effectiveness of the European Central Bank's (ECB) policy tightening initiatives. To reach their sales targets, firms could feel pressured to lower the prices of their products and services.

 

The United Kingdom's deteriorating food crisis, brought on by growing costs and a labor shortfall, has had an impact on the Pound Sterling. According to Minette Batters, president of the National Farmers Union, "the government and the entire supply chain must act swiftly." The Financial Times stated that "tomorrow might be too late." The economy already faces rising food inflation, and the issue with the supply of food will make matters worse.


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