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U.S. Border Affairs Director Homan: My message is consistent with the position that has been in place since President Trump took office on January 20: we will conduct large-scale deportations, but will prioritize arresting criminals and those who threaten public safety.On January 31, it was reported that on January 30 local time, the Director of the White House Office of Management and Budget issued a memo to department heads instructing agencies whose funding was due at midnight to begin preparing for a government shutdown. These agencies included the Department of Defense, Department of Homeland Security, State Department, Treasury Department, Department of Labor, Department of Health and Human Services, Department of Education, Department of Transportation, and Department of Housing and Urban Development. Russ Vought stated, “Given that Congress is clearly unable to complete its work before the funding expires, affected agencies should now implement orderly shutdown plans. Employees should report to work on time, fulfill their next regular work duties, and conduct orderly shutdown activities. The government will continue to work with Congress to address recently raised issues and complete the funding work for fiscal year 2026. We hope this shutdown will not be too long.”January 31 – According to a report in the New York Times, documents released by the U.S. Department of Justice on Friday show that billionaire businessman Howard Lutnick, who served as Commerce Secretary in the Trump administration, planned to visit Jeffrey Epsteins private island. This planned visit took place in 2012 – a time when Lutnick had previously claimed to have severed ties with Epstein. Records show that in December 2012, Lutnick emailed Epstein to inquire about his location, stating that he, his family, and another family were in the Caribbean and asking if he could join them for a meal. Epstein replied through an assistant with his location on Little St. James Island, near the coast of St. Thomas in the U.S. Virgin Islands, and the two sides finalized the arrangements for a luncheon. The documents confirm that the visit did take place: the meeting was scheduled for December 23, 2012, and the following day, Epsteins assistant forwarded Lutnick a message from Epstein that read, "Its a pleasure to see you." In recent years, the visits of prominent figures closely associated with Epstein to the island have been subject to public scrutiny, but Lutnicks planned itinerary for this trip had not been disclosed before.New Energy Vehicles: 1. Zhijie officially announced its first OTA update for the entire series this year. 2. Shanghai: Provides subsidies for car replacement and upgrades, with subsidies for purchasing new energy passenger vehicles not exceeding 15,000 yuan. 3. Chinas car dealer inventory warning index for January was 59.4%, down 2.9 percentage points year-on-year and up 1.7 percentage points month-on-month. 4. Cui Dongshu: The total number of public charging piles in December 2025 will reach 4.72 million, up 92,000 month-on-month and 1.14 million year-on-year. Integrated Circuits (Chips): 1. Alibaba clarified its "Cloud + AI + Chip" strategy, with PPU chip shipments already reaching hundreds of thousands of units. 2. Cambricon: Expects net profit of 1.85 billion to 2.15 billion yuan in 2025, turning a profit. 3. SK Hynixs first-quarter profit is expected to exceed expectations due to rising chip prices. 4. Reports indicate that Hitachi plans to divest its memory business for a maximum price of 200 billion yen. 5. Apple CEO Tim Cook: The advanced chip manufacturing technology used in the chips has led to supply constraints. Memory prices had a negligible impact on the first fiscal quarter. Artificial Intelligence: 1. Indian Science and Technology Minister: India will launch an AI model next month. 2. Alibabas 1000 Questions: The DeepPlanning benchmark has officially launched. 3. Tesla discontinues its flagship model, betting 20 billion on a million robots. 4. Li Auto executives confirm entry into humanoid robots. Other: 1. A 240-ton-class commercial reusable high-pressure staged combustion liquid oxygen-kerosene engine successfully completed a long-range test. 2. Japanese media: Apple will prioritize releasing high-end iPhone models this year. 3. Market news: Several more AI researchers and Siri team executives have recently left Apple, including Siri senior director Stuart Powers, who left to join Google.Gaza Situation: 1. Hamas: The handover of governance in Gaza is fully complete. 2. US President Trump: (Regarding the Middle East) Hamas was a key factor in the hostage release. Hamas appears to be on the verge of disarmament. 3. Coordinating Government Operations Headquarters (COGAT): The Rafah border crossing between Gaza and Egypt will reopen on Sunday. Iran Situation: 1. The Israeli military is reportedly working closely with the US military on military action against Iran. 3. US President Trump stated that a team (referring to the military) is heading to Iran, and also mentioned plans for dialogue with Iran. 4. Russian President Putin met with Iranian Supreme Leader advisor Larijani. 5. The US announced new sanctions against Iran; US Treasury Secretary Bessenter: These will continue to target Iranian networks and elites. 6. Turkish Foreign Minister: Restarting negotiations on the Iranian nuclear issue is crucial for us and helps ease regional tensions. Israel is trying to persuade us to attack Iran. 7. Iranian Foreign Minister: The Iranian missile issue will never be a topic of negotiation. Iran is prepared for both scenarios—war or diplomacy. So far, we have no plans to meet with US officials. Other: 1. A U.S. guided-missile destroyer docked at the Israeli Red Sea port of Eilat. 2. Israel declared a senior South African diplomatic representative persona non grata and ordered him to leave Israel within 72 hours. 3. Syrian Kurdish forces stated they have agreed to integrate their military forces into the Syrian government in phases as part of a comprehensive agreement. 4. According to Syrian state television: Syrian government officials confirmed a "final agreement" with the Kurdish forces, which will be implemented immediately.

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.