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July 24th - As soaring memory chip prices continue to drive up the overall cost of iPhones, Apple is pressuring its upstream supply chain to significantly reduce the price of OLED screens from its display panel suppliers. According to foreign media reports on July 24th, Apple has proposed to its panel suppliers that the OLED panels used in the iPhone 18 Pro Max be priced at approximately $70, a decrease of about 20% compared to its predecessor. Industry insiders estimate that Samsung Display and LG Display currently supply panels at an average price of $66.50, even lower than Apples proposed price.Goldman Sachs raised its 12-month target for the TOPIX index from 4,400 to 4,500.July 24 - General AI robot company Logic Innovation announced that it has initiated the process of listing in Hong Kong.Melius Research: Raises its price target for AMD (AMD.O) from $540 to $660.On July 24th, a representative from Topsports (06110.HK) stated, "Topsports promotional schedules across all channels strictly adhere to established sales plans. The company conducts promotional activities based on factors such as season, product lifecycle, and platform activities, which is common industry practice and not a special arrangement for individual cases. There is absolutely no low-price dumping." However, a search of the Topsports mini-program reveals that Nike does indeed have discounts of up to 50% on the platform, but Adidas also currently has similar promotions. On July 22nd, Topsports announced that its online sales of Nike products in mainland China will be completely terminated from January 1, 2027.

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.


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