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On April 2nd, Iranian Parliament Speaker Mohammad Ghalibaf stated that seven million Iranians are ready to resist any US ground invasion of Iran. Ghalibaf, who has been considered a potential negotiator with the US, has posted a series of online challenges to the US since the start of the conflict. “Currently, in less than a week, a powerful nationwide movement has brought about approximately seven million Iranians to their feet, declaring their readiness to take up arms and defend our country,” Ghalibaf wrote. Iran is a country with a population of approximately 90 million. The source of this figure is unclear, but Iranian state media and SMS propaganda campaigns have been urging citizens to enlist.April 2nd - According to Japanese media reports on the 2nd, due to the protracted conflict in the Middle East and rising oil prices, All Nippon Airways (ANA) and Japan Airlines (JAL) will significantly increase fuel surcharges on international routes starting in June. The Japanese aviation industry typically adjusts fuel surcharges every two months. For example, for one-way flights from Japan to Europe and North America, compared to prices in April and May, ANA will increase its fuel surcharge by 23,100 yen (approximately 159 yen to 1 US dollar) to 55,000 yen starting in June, while JAL will increase its fuel surcharge by 21,000 yen to 50,000 yen, both increases exceeding 70%.The intraday gains for the main fuel oil contract narrowed to 8.00%, currently trading at 4550.00 yuan/ton.The International Monetary Fund welcomed the strong performance of the US economy.The International Monetary Fund (IMF) projects that the U.S. economy will grow to 2.4% in 2026; and that core personal consumption expenditure inflation is expected to fall to 2% in the first half of 2027 as the effects of tariffs fade and oil prices decline.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

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Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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