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Local officials said a Russian missile attack in Krivirikh, Ukraine, killed six people, including children, and injured eight others.On July 30th, Digitimes analyst Derek Huang stated in a report that the timeline for TSMCs Japanese factory to fully resume production remains to be seen due to ongoing aftershocks. He said that even if the direct financial losses to TSMC are minimal, the extended recertification time for specialized process equipment could cause greater disruption to the supply chain. TSMC stated in a press release that all personnel were evacuated following Tuesdays strong earthquake, and post-earthquake structural inspections confirmed the buildings structural safety. The company added that, however, due to the relatively strong earthquake, the inspection and calibration of related equipment will require some time.On July 30th, at the CDEC Summit Forum held during ChinaJoy, Zhang Yijun, First Vice Chairman of the China Audio-Visual and Digital Publishing Association, released the "China Game Industry Report for January-June 2026". The report shows that in the first half of 2026, the actual sales revenue of the domestic game market reached 188.45 billion yuan, a year-on-year increase of 12.17%. As of June, the number of game users in my country reached 684 million, a year-on-year increase of 0.82%. In terms of overseas game exports, my country continued to maintain high growth, with the actual sales revenue of self-developed games in overseas markets reaching US$12.372 billion in the first half of the year, a year-on-year increase of 30.2%. Meanwhile, mini-games also showed impressive growth, with the revenue of mini-program mobile games reaching 31.66 billion yuan in the first half of the year, a year-on-year increase of approximately 36%. Zhang Yijun mentioned that the game industry saw significant growth in scale in the first half of the year, with AI technology fully penetrating the market and the game economy becoming increasingly robust.On July 30th, media outlets reported that several users had experienced unusual spending on their Meituan accounts. Meituan confirmed that after thorough investigation, these users were highly likely victims of a new type of telecom fraud. Meituan is actively cooperating with the police investigation and has taken various measures to ensure user account security. Meituan (03690.HK) stated that, according to multiple investigations, the modus operandi in this incident is highly consistent: criminals use lures such as "brushing orders for rebates" and "high commissions" to send users links containing Trojan programs. Once a user clicks on the link, their phone is remotely controlled. The criminals then use the users identity to purchase popular restaurant vouchers and scenic spot package tickets in bulk on Meituan, and then quickly resell them for cash through online second-hand platforms, profiting from this. It is understood that public security organs in multiple locations have opened investigations into related cases. Meituan is actively cooperating with the police by providing complete data such as account login logs, order details, and transaction records to assist in tracing the criminal gang. In response to this new type of crime, Meituan stated that it has continuously upgraded its risk control strategies.On July 30th, the worlds largest diameter high-speed rail tunnel boring machine, independently developed by my country, successfully traversed the Yangtze River, marking the completion of the tunnels waterway section. Once operational, the Chongtai Yangtze River Tunnel will end the history of Chongming Island, my countrys third largest island, being without high-speed rail access.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.