EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 24th, it was reported that on December 24th of last year, four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, issued the "Notice on Further Optimizing and Adjusting Relevant Policies of Beijing Real Estate," which involved adjustments to purchase restrictions and credit optimization. Overall, since the implementation of the new policy a month ago, transaction volume has been steadily increasing. Data from Centaline Property shows that since the release of the notice, the average daily number of new home sales contracts has increased by 44.6% month-on-month, with improved housing projects outside the Fifth Ring Road performing particularly well. In the secondary market, after the new policy, the average daily number of viewings at real estate agencies has increased by more than 20% compared to normal, and the average daily transaction volume of secondary homes has exceeded 500 units.January 24th - The Fourth Session of the 14th Beijing Municipal Committee of the Chinese Peoples Political Consultative Conference (CPPCC) solemnly opened at the Beijing Conference Center at 9:00 AM today (January 24th). The opening session will review and adopt the "Agenda of the Fourth Session of the 14th Beijing Municipal Committee of the CPPCC," hear the "Work Report of the Standing Committee of the 14th Beijing Municipal Committee of the CPPCC," and hear the "Report of the Standing Committee of the Beijing Municipal Committee of the CPPCC on the Work of Proposals Since the Third Session of the 14th CPPCC."DownDetector, a network monitoring website, reports user complaints that social media platform “X” is experiencing issues.January 24th - The market is widely focused on when the window for reserve requirement ratio (RRR) and interest rate cuts will open. Ming Ming, chief economist at CITIC Securities, stated that based on past experience, a reduction in the relending rate opens up corresponding room for overall interest rate cuts. With a large number of fixed deposits maturing in the first quarter, the pressure on bank interest rate spreads is easing, and the timing of a policy rate cut is expected in the second quarter. "A RRR cut is expected to be implemented in the first quarter, but a comprehensive interest rate cut still needs to wait," analyzed a research report from Galaxy Securities. The report suggests that with fiscal policy taking the lead and monetary policy actively cooperating with fiscal policy, a 50 basis point RRR cut is likely to be implemented. A comprehensive interest rate cut still needs to wait for the right opportunity; it is expected that there will be one to two interest rate cuts throughout the year, totaling a reduction of 10 to 20 basis points in the policy rate, thereby guiding the LPR (Loan Prime Rate) downward, which will then be transmitted to further reduce loan and deposit rates.On January 24th, British Prime Minister Keir Starmer said on the 23rd that US President Donald Trumps remarks about NATO allies not being on the front lines in the Afghan war were "insulting and shocking," and that Trump should apologize. In an interview in Davos, Switzerland, Trump claimed that the US "never needed" NATO, and that NATO allies "would say they sent troops to Afghanistan…they did, but in a slightly back position, a bit off the front lines." Starmer said Trumps remarks deeply hurt the families of British casualties, adding, "If I had said those things, I would certainly apologize." Earlier that day, the British Prime Ministers office issued a statement saying that British troops have been fighting alongside US troops, and that Trump "wrongly" downplayed the role of NATO forces, including British troops, in the Afghan war.

Oil Prices Increase In Anticipation of A China Demand Recovery

Haiden Holmes

May 18, 2022 10:18

O2.png


In early Asian trading on Wednesday, oil prices increased by more than $1 per barrel on optimism of a demand revival in China as the country gradually eases some of its harsh COVID-19 containment restrictions.


Brent crude futures rose $1.15, or 1%, to $113.08 a barrel at 00:42 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose $1.62, or 1.4%, to $114.02 a barrel, erasing some of the previous session's losses after oil prices plummeted by almost 2%.


On Tuesday, Shanghai reached the long-awaited benchmark of three consecutive days with no new COVID-19 cases outside of quarantine zones. On Monday, the city announced its plans to break a lockdown that has lasted for more than six weeks.


Stephen Innes, managing director of SPI Asset Management, stated in a client note: "Beyond the immediate term, less terrible news on China gives a nip in the tail in the shape of considerably greater oil demand and prices, which is positive for producers but negative for consumer sentiment."


U.S. crude and gasoline inventories decreased last week, market sources reported on Tuesday, citing American Petroleum Institute data. Wednesday is the anticipated release date for data from the U.S. government.


Russia's production decreased by about 9 percent in April, and the country, which is a member of the OPEC+ group of oil-producing nations, produced oil significantly below the levels required by an agreement to alleviate historic output restrictions established during the coronavirus pandemic's deadliest phase in 2020.


ANZ Research analysts said in a client note on Wednesday that there is ongoing pressure on prices following news that the United States is permitting Chevron Corp (NYSE:CVX) to negotiate oil licenses with Venezuela's national producer, temporarily eliminating a U.S. ban on such negotiations.


The planned adjustments may eventually result in more crude oil entering the market.


Monday's failure by the European Union to convince Hungary to rescind its veto of a proposed Russian oil embargo weighed on the market. However, some diplomats now point to a conference on May 30-31 as the time for an agreement on a phased prohibition.


Jerome Powell, chairman of the Federal Reserve in the United States, said on Tuesday that the central bank will raise interest rates as high as necessary to combat a surge in inflation, which he warned threatened the foundation of the economy.

Suggestion