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July 27: Building materials transaction volume was 85,500 tons, an increase of 5.43% compared to the previous trading day. July 24: Building materials transaction volume was 81,100 tons, a decrease of 8.26% compared to the previous trading day. July 23: Building materials transaction volume was 88,400 tons, an increase of 12.18% compared to the previous trading day. July 22: Building materials transaction volume was 78,800 tons, a decrease of 18.85% compared to the previous trading day. July 21: Building materials transaction volume was 97,100 tons, an increase of 23.85% compared to the previous trading day. Last weeks average: Building materials transaction volume was 84,800 tons.Announcement: The State Council Information Office will hold a press conference on the theme of "The Beginning of the 15th Five-Year Plan" at 10:00 a.m. on July 29, 2026. Rui Wenbiao, spokesperson and deputy director of the State Intellectual Property Office, will introduce the relevant situation of intellectual property protection and utilization during the 15th Five-Year Plan period and answer questions from reporters.HSBC Holdings: Lowered its target price for IBM (IBM.N) from $175 to $174.On July 27th, Guo Shougang, Director of the Equipment Industry Department of the Ministry of Industry and Information Technology (MIIT), introduced the development of my countrys intelligent connected vehicle industry at a media roundtable during the 2026 World Intelligent Connected Vehicles Conference. Guo highlighted the positive achievements already made by my countrys intelligent connected vehicle industry. Going forward, the MIIT will accelerate the formulation and issuance of the "15th Five-Year Plan" for the development of the intelligent connected new energy vehicle industry, thoroughly implement the "National Standardization Development Outline," accelerate breakthroughs in a number of key core technologies, expedite the development, international coordination, and implementation of key standards, further promote pilot applications, production access, and road access for "vehicle-road-cloud integration," and promote the establishment of an ecosystem connecting the entire industry chain.Bernstein raised its price target for Intel (INTC.O) from $100 to $110.

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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