EUR/USD
1.14718
-0.341%
Gold
5074.99
-0.089%
Oil
95.807
0.639%
USD/JPY
159.516
0.110%
GBP/USD
1.32903
-0.388%
GBP/JPY
212.009
-0.227%
Real-time News
March 13th - UK GDP grew 0% month-on-month in January, below the 0.2% increase predicted by economists in a Reuters poll and also lower than the 0.1% increase in December. The UK economy failed to grow in January, giving it a weak start to the year, even before the global energy shock triggered by the Middle East wars. In the third and fourth quarters of last year, the UK economy grew by only 0.1% each year, with businesses and households still grappling with high interest rates, the impact of the US trade war, and uncertainty surrounding potential tax increases in the November budget. The surge in oil and gas prices this month poses further risks to the UK economy. Shortly before the outbreak of the war, the Bank of England had predicted 0.3% growth in the first quarter. David Myers, chief economist at the Office for Budget Responsibility, warned this week that if energy prices remain at current levels, inflation could remain around 3% by the end of the year, rather than decline.March 13th Futures News: On March 13th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 172,232 tons, an increase of 8,834 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 17,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 4,160 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. The following figures were unchanged from the previous trading day: 6. Petroleum asphalt futures warehouse receipts totaled 33,160 tons, an increase of 8,520 tons compared to the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 61,780 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 25,620 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged from the previous trading day.March 13 - Algerian authorities, having found a glimmer of hope after the energy price surge triggered by the Russia-Ukraine conflict, are now pinning their hopes on a further rise in oil prices driven by the Iran war. The North African nation of 47 million people has long relied on one of Africas largest oil and gas reserves to pay for subsidies. Since being devastated by the 2014 oil price crash, the country has found it increasingly difficult to cover its budget deficit. Oil prices broke through $100 a barrel on March 9, and despite frequent fluctuations since then, prices have risen by more than 50% due to market concerns that the conflict will hinder Middle Eastern supplies. Independent economic and financial analyst Mahfoud Kaoubi stated that rising prices can only be good for the authorities; if oil prices surge further to the $120-$125 range, the OPEC member will be able to achieve budget balance. Currently, Algerias daily production is approximately 977,000 barrels.The UKs seasonally adjusted trade balance with the EU in January was -£10.988 billion, compared to -£11.73 billion in the previous month.As of 3:00 PM Beijing time, spot platinum fell 1.41%, and spot palladium fell 0.76%.
