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Ukraines anti-corruption agency has uncovered a group comprised of the deputy head of the presidential office and a former member of parliament who legalized funds intended for bail payments in energy corruption cases.Market news: Investors are betting heavily on Ukraine and reaping some of the richest returns from the bond market. A Ukrainian bond index has yielded a cumulative return of 150% since the beginning of 2023, and is on track for another double-digit gain in 2026.On August 19th, Wang Haojun, CFO of Pony.ai (02026.HK), stated in an interview that Pony.ais overseas deployment plan has exceeded 4,000 Robotaxis. A major highlight is the recent joint announcement by Pony.ai and Uber of a plan to deploy over 2,000 Robotaxis in five key European cities. "Europe is a very high-value overseas market that we recognize. Both Pony.ai and Uber believe that 2,000 vehicles is just the initial deployment plan. As the overall Robotaxi market in Europe matures, there will definitely be a much larger deployment in the future." Looking at the full year, Wang Haojun stated that Pony.ai is confident in exceeding its 2026 Robotaxi revenue target. Simultaneously, Pony.ai is steadily progressing towards its goal of deploying 3,500 Robotaxis in over 20 cities by the end of 2026. "We are very confident in achieving these goals."On August 19th, local time, a Cypriot government official told the media that Cyprus would not be a target of Iranian attacks. He also revealed that the Cypriot government maintains communication and contact with Iran. According to internal Iranian sources that day, if the United States further escalates the war, Iran might launch attacks on Europe, with Besmo Air Base in Bulgaria, which hosts US military refueling aircraft, and Akrotiri RAF in Cyprus being potential targets.On August 19th, Samsung projected that advanced process technologies will contribute more than half of its foundry revenue this year, while AI and high-performance computing (HPC) applications will account for over 30%, up from 15% to 20% by the end of 2025. Due to tight capacity at TSMC, Samsung has gained stronger price negotiation power. A source familiar with Samsungs operations stated that Samsungs SF4 production line at its Pyeongtaek plant in South Korea has been operating at full capacity since the end of last year.

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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