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The UK CBI retail sales balance for December was -44, compared to -32 in the previous month.On December 19th, Hong Kongs Secretary for Financial Services and the Treasury, Christopher Hui, stated that as of the end of September this year, 36 applications for stablecoin licenses from various sectors had been received. It is expected that some licenses will be issued early next year, with priority given to sound reserve management, price stability, and anti-money laundering measures. He pointed out that these measures not only protect investors but also reduce ambiguity that could lead to transaction conflicts by establishing a clear compliance path, thus helping to resolve potential disputes. The Hong Kong Stablecoin Ordinance came into effect in August this year. A spokesperson for the Hong Kong Monetary Authority stated in October that the Authority would review application materials and approve them in accordance with the Stablecoin Ordinance and related regulatory requirements. The license application process has high thresholds, and only a few licenses will be issued in the first phase.On December 19th, a French parliamentary committee failed to reach an agreement on the 2026 budget, postponing discussions of the full fiscal plan into the new year and exacerbating concerns about how the government will control the deficit. The committee, composed of seven National Assembly members and seven senators, quickly abandoned its efforts to reconcile the draft budget on Friday morning due to persistent serious disagreements between the two houses and different political groups. French Prime Minister Le Corny stated that he regretted the lack of willingness among some members to reach an agreement. France will not face a US-style government shutdown risk, as it can maintain key spending and tax revenue through emergency legislation. Bank of France Governor Villeroy warned that if plans to repair public finances fail to reduce next years deficit to below 5% of economic output, France could face a negative market reaction.Russian President Vladimir Putin: We are ready to begin negotiations to end the war in Ukraine.Russian President Vladimir Putin: The ball is in the court of Western countries and Ukraine.

WTI stays in positive zone despite a dip in Asia

Jan 10, 2023 14:43

截屏2022-12-29 下午4.54.13_1024x576.png 

 

West Texas Intermediate, or WTI, is down during the Asian session, losing about 0.4% at the time of writing amid optimism that China's demand will increase after the government set new import limitations. However, overnight and at the start of the week, the news provided economic support for its faltering economy, while the US Dollar sank, allowing investors to enter the black gold rise at a lower cost.

 

China has reopened its borders to international visitors for the first time since March 2020, when it implemented travel restrictions. Elsewhere, China has continued to demolish a large portion of its draconian zero-COVID movement regulations. According to the BBC, incoming travelers will no longer be required to be quarantined, marking a dramatic change in the country's Covid policy as it fights an outbreak. They will continue to require documentation of a negative PCR test conducted within 48 hours after flight.

 

As a result, oil prices increased early on Monday in anticipation of an uptick in demand from China, as the nation set new import curbs and offered economic support to its faltering economy. Last observed, spot West Texas Intermediate crude was priced at $ 74.57 per barrel.

 

ANZ Bank analysts explained: "China announced a new batch of import limits, an indication that the world's largest importer is gearing up to meet increased demand."

 

"The relaxation of COVID-19 regulations has already increased travel. According to the Ministry of Transport, approximately 34.7 million domestic journeys were made on the first day of the Spring Festival travel rush. This is around 40% higher than comparable days in 2022. Approximately 2.1 billion trips are anticipated during the next 40 days. This comes amid tightened supply,'' the analysts added.

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