• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
An Iranian government spokesperson stated that the international internet is being restored. There were technical issues, but these will be resolved gradually, and the situation will return to its previous state.On June 9, Foreign Ministry Spokesperson Lin Jian hosted a regular press conference. A foreign journalist asked, "Taiwans Ministry of Foreign Affairs stated that on June 8, three South Korean parliamentarians from both the ruling and opposition parties met with the Director-General of Taiwans Ministry of Foreign Affairs, exchanging views on responding to geopolitical challenges, political, economic, and cultural exchanges, and the development of the semiconductor and AI industries. How does China view this exchange?" Lin Jian emphasized, "Taiwan is part of China, and there is no such thing as a Ministry of Foreign Affairs there." He stressed that China has consistently and firmly opposed any form of official exchanges between countries that have diplomatic relations with China and Taiwan. Lin Jian pointed out that since the beginning of this year, South Korea has publicly reiterated on multiple occasions that its position of respecting the one-China principle remains unchanged. China has lodged a strong protest with South Korea on this matter. We urge South Korea to proceed from the overall interests of China-South Korea relations, honor its commitments, earnestly adhere to the one-China principle, refrain from any form of official exchanges with Taiwan, avoid being exploited by "Taiwan independence" elements, and refrain from sending wrong signals to "Taiwan independence" separatist forces, and take concrete actions to safeguard the healthy and stable development of bilateral relations.June 9th - While the national rental market is consolidating, first-tier cities are showing a different trend. In May, the average rent for ordinary residential properties in first-tier cities rose 0.16% month-on-month, marking the third consecutive month of increase. Year-on-year, in the first five months of this year, the average rent in first-tier cities ended two consecutive years of adjustment, turning to a slight increase of 0.21%. Beijing, Shanghai, and Shenzhen have become the "leaders" in this round of rental market stabilization. Since the peak rental season began in March, residential rents in these three cities have continued to rise. First-tier cities, relying on high-quality industrial resources and a young working population, are leading the way in stabilizing their rental market fundamentals.On June 9th, the State Taxation Administration completed its 2026 tax payment credit evaluation of business entities. The evaluation results show that in 2026, tax authorities evaluated 54.669 million business entities, an increase of 4.903 million from the previous year. The tax payment credit of business entities in my country continues to improve. Specifically, the number of trustworthy business entities nationwide reached 47.111 million, a year-on-year increase of 8.6%. Notably, the number of business entities proactively repairing their credit increased by approximately 30% year-on-year. 18.154 million business entities proactively corrected their errors and repaired their credit, an increase of 4.178 million from the previous year, representing a year-on-year increase of 29.8%. Among them, 3.881 million business entities achieved an upgrade in their credit rating after repairing their credit.On June 9, Foreign Ministry Spokesperson Lin Jian held a regular press conference. On June 1, the China Coast Guard vessel Daishan flotilla conducted law enforcement patrols in the waters east of Taiwan. A reporter from the Japanese newspaper Asahi Shimbun asked about this at the conference. "Regarding the lawful law enforcement patrols conducted by the China Coast Guard flotilla in the waters east of Taiwan, the China Coast Guard Bureau has already released relevant information," Lin Jian reiterated. He emphasized that China possesses an exclusive economic zone and continental shelf in the waters east of Taiwan, and that Japan and the Philippines, bypassing China, have unilaterally initiated so-called "maritime boundary negotiations," which seriously violates international law, including the United Nations Convention on the Law of the Sea, and the basic norms of international relations, and severely infringes upon Chinas maritime rights and interests. China will never allow this.

WTI anticipates further losses below $88, as recession concerns increase and the US ISM PMI is anticipated

Daniel Rogers

Sep 01, 2022 15:29

 截屏2022-06-10 下午5.32.03_1024x576.png

 

Futures for West Texas Intermediate (WTI) on the New York Mercantile Exchange (NYMEX) are on the verge of breaking to the negative from a thin consolidation between $88.54 and 89.32 during the Tokyo session. The asset has abandoned the psychological support of $90.00 as western central banks prepare for a new cycle of rate hikes to combat inflation mayhem.

 

On worldwide markets, price pressures are intensifying. The favored inflation gauge of the European Central Bank (ECB), the Harmonized Index of Consumer Prices (HICP), has surpassed 9% due to surging energy costs.

 

The US economy's inflation rate has shown signs of weariness but continues to hover above 8.5%, which is far above the target rate of 2%. And inflationary pressures wreak the most havoc on the British economy. According to a Citi study, long-term inflation forecasts have skyrocketed to 4.8%, much over the Bank of England's (BOE) target of 2%.

 

Moreover, the dismal Caixin Manufacturing PMI data has contributed to the decline in oil prices. The economic data has been revised down to 49.5, below the consensus estimate of 50.2 and the previous report of 50.4. Notably, China is the greatest importer of oil, and a drop in oil consumption by the largest importer is sufficient to pull the price of black gold down.

 

In addition, the price of black gold has failed to profit on the recent reduction in oil inventories published by the Energy Information Administration (EIA). The oil inventories have decreased by 3,326 million barrels, as opposed to the previously stated decrease of 3,282 million barrels.

 

The US ISM Manufacturing PMI has substantial weight in today's session. The consensus forecast for economic statistics is 52, compared to the previous reading of 52.8. A recurrence of the same will increase the pressure on oil prices as recession fears intensify.