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On March 24, the Chengdu Housing Provident Fund Management Center held a press conference to announce new policies. To further boost housing consumption, better meet the rigid and improved housing needs of contributors, and promote the stable and healthy development of the real estate market, Chengdu has issued a series of policy measures, including the "Notice on Further Optimizing Relevant Policies of Housing Provident Fund," the "Notice on Further Supporting Housing Consumption," the "Notice on Further Optimizing the Withdrawal of Housing Provident Fund for Serious Illnesses," and the "Notice on Adjusting Relevant Policies of Housing Provident Fund Loans." The maximum loan amount for a single contributor has been increased from 600,000 yuan to 800,000 yuan, and the maximum loan amount for two contributors has been increased from 1 million yuan to 1.2 million yuan.The Israeli military says search and rescue teams are heading to several locations in southern Israel where reports of impacts have been received.March 24th, Futures Market News: Zhengzhou rapeseed meal futures opened lower and then fluctuated throughout the day. Canadian canola futures closed lower, with the benchmark contract down 1.02%, following the downward trend in international crude oil futures. Rapeseed meal spot prices also weakened. On the one hand, domestic demand remained sluggish, and coastal inventories increased month-on-month, easing market concerns about supply. On the other hand, weakening cost support from soybean meal dragged down rapeseed meal prices. In the long term, expectations for ample domestic rapeseed meal supply remain strong.March 24th - Phillip Nova analysts stated that gold prices are likely to remain volatile in the short term. Geopolitical tensions typically drive safe-haven demand, but current high energy prices and a persistently strong dollar are limiting golds upward momentum. Until a clearer geopolitical trajectory emerges, gold is likely to be influenced by volatility driven by market headlines, with each diplomatic statement potentially triggering a significant reversal.New Zealand Prime Minister Lukeson: Good progress has been made in the past few years. Inflation and interest rates have fallen, and the economy has begun to grow again.

Near 0.8670, the EUR/GBP shows a careless drop; attention is on UK employment

Alina Haynes

Sep 13, 2022 11:02

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The EUR/GBP pair displayed a minor pullback on Monday after hitting a four-day low of about 0.8650. After finishing the retreat, it is projected that the cross will start moving downward and that it will quicken its slide after losing the crucial support level of 0.8650. According to incoming job data from the United Kingdom, the asset will probably change.

 

Forecasts indicate that the unemployment rate in the UK will remain at 3.8%. The unemployment rate won't change even if the number of people collecting unemployment benefits will drop by 9.2k. Due to higher payouts in an inflationary environment, the Average Earnings data is the catalyst that families should take into account. The labor cost index would significantly rise from 4.7% to 5%, helping households offset the higher payments brought on by soaring inflation.

 

Additionally, Wednesday's UK inflation figures will be crucial. It is projected that the UK's Consumer Price Index (CPI) will stay over 10% at 10.2%. The Bank of England (BOE) will be forced to raise interest rates as a result. The difference in policy between the Bank of England and the European Central Bank could be made worse by this.

 

The bulls of the single currency must contend with rising energy prices. The quantity of energy needed to run heaters and other heat-generating devices will rise over the upcoming winter season in Europe. As a result, the need for energy will rise even further. The ECB unexpectedly raised interest rates by 75 basis points (bps) last week; this week, it will announce more rate rises as long as price pressures exceed the planned rate.

 

Due to rising energy prices, the corporate sector in the eurozone is going through a period of declining profitability. Major corporations' input costs have increased as a result of rising energy prices, reducing their operating margins and forcing some businesses into bankruptcy. Their financial performance is significantly impacted by rising energy prices and interest rates.

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