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On March 28, German Chancellor Merz stated on March 27 that if "regime change" is the goal of the US-Israel military action against Iran, he does not believe that goal can be achieved. Merz expressed his hope for an early end to the conflict, but noted that the US and Israel are "deeper in the game." He questioned whether the US and Israel have a strategy to end the conflict, and if so, whether it can be successfully implemented. Merz said the economic consequences of the Middle East conflict are "very direct," and Germany is one of the sufferers. If a ceasefire agreement is reached, Germany could consider jointly organizing military escorts across the Strait of Hormuz with other parties, but this requires international authorization, approval from the German Bundestag, and a cabinet resolution. However, as long as the conflict continues, this is "not an option" for Germany.March 28th - Since 2026, passenger traffic at Shanghai ports has continued to climb. According to statistics from the Shanghai General Station of Immigration Inspection, as of 9:00 AM on March 28th, the cumulative number of inbound and outbound passengers inspected by Shanghai immigration authorities has exceeded 10 million, representing a year-on-year increase of 2.9%. The flow of people at Shanghai ports is showing a robust "two-way" trend, with approximately 5.055 million outbound passengers and approximately 4.945 million inbound passengers, representing year-on-year increases of 2.6% and 3.3%, respectively.On March 28, the National Bureau of Data Science and Technology (NBD) released its 2026 departmental budget on its official website. The NBD comprises one administrative unit at the bureau level, with six internal departments: General Affairs Department, Policy and Planning Department, Data Resources Department, Digital Economy Department, Digital Technology and Infrastructure Construction Department, and International Data Governance Cooperation Department. It also has one affiliated institution, the National Data Development Research Institute.According to AFP: Thailand and Iran have reached an agreement to allow Thai oil tankers to pass through the Strait of Hormuz.March 28th - At a dialogue event held on the 27th themed "Making Friends Through Business, Connecting Shanghai Globally," it was learned that Shanghai is continuously improving its comprehensive overseas service system and accelerating its transformation into a "starting point" for enterprises going global. This is being achieved through initiatives such as launching a unified citywide service platform and establishing professional service alliances. Currently, private enterprises are playing an increasingly important role in the overseas expansion of Shanghai enterprises. Last year, private enterprises accounted for over 80% of the Chinese investment in all Shanghais outbound investment projects, and their share of the citys total foreign trade import and export volume also exceeded 40% for the first time.

EUR/JPY hits resistance at 143.30 despite Japan's dismal Unemployment data

Daniel Rogers

Jul 01, 2022 11:12

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The EUR/JPY pair is facing resistance at 143.30 despite the increase in Japan's Unemployment Rate. According to the Statistics Bureau of Japan, the unemployment rate is 2.6%, which is higher than both estimates and the previous number of 2.5%. The ratio of job openings to applicants has climbed to 1.24, which is higher than the previous reading of 1.23 and in line with the consensus prediction of 1.24.

 

Rising employment prospects in the Japanese economy suggest that the Bank of Japan's (BOJ) conservative monetary policy is fostering job creation. The availability of inexpensive money in the economy fosters aggressive corporate investment. In addition, the rising exports of the economy and the inexpensive Japanese yen are boosting the labor market. In FY2021, Japan's tax revenue surpassed 67 trillion yen - Nikkei. A rise in the economy's tax revenue may provide support for the yen bulls.

 

The bulls of the shared currency await the publication of the Harmonized Index of Consumer Prices on the eurozone front (HICP). According to forecasts, the annual inflation rate might rise from 8.1 percent to 8.3 percent. Christine Lagarde, president of the European Central Bank (ECB), stated that despite a slew of rate hike announcements, a return to a lower inflation environment is exceedingly improbable.