EUR/USD 1.15769
0.258%
Gold 3989.42
0.313%
Oil 59.569
0.290%
USD/JPY 153.222
0.108%
GBP/USD 1.31444
0.053%
GBP/JPY 201.410
0.181%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 7th, China Southern Power Grid Energy Storage stated at a brokerage strategy meeting that, according to Document No. 633, pumped storage electricity prices include capacity pricing and electricity pricing. Currently, capacity pricing accounts for over 90% of the revenue structure of pumped storage power stations. Document No. 633 also stipulates: "The proportion of government-approved capacity pricing covering the designed capacity of power station units should be reduced in due course to encourage power stations to independently utilize their surplus unit capacity to participate in the electricity market, gradually realizing that power stations mainly recover costs and obtain revenue through market participation." Therefore, the company understands that for newly built pumped storage power stations, the future revenue structure of capacity pricing and electricity pricing may change, and the power stations revenue is expected to depend more on its market competitiveness. Specific electricity pricing policies are subject to official documents from relevant national departments.The UK FTSE 100 index fell by 1.00% on the day.US tech stocks generally fell, with Tesla (TSLA.O) and AMD (AMD.O) down about 3.5%, Oracle (ORCL.N) and Nvidia (NVDA.O) down about 2%, and Google (GOOG.O) down more than 1%.The Dow Jones Industrial Average opened down 194.33 points, or 0.41%, at 46,717.97 on Friday, November 7; the S&P 500 opened down 37.41 points, or 0.56%, at 6,682.98; and the Nasdaq Composite opened down 186.81 points, or 0.81%, at 22,867.19.ECB Executive Board member Herderson: There is still a lot of volatility and uncertainty.

Despite the Bank of England's less hawkish forecasts, GBP/USD is expected to rise beyond 1.2170

Daniel Rogers

Aug 04, 2022 11:52

截屏2022-08-04 上午11.47.01.png 

 

The GBP/USD pair has showed a modest retreat after failing to reclaim the 1.2170 resistance level. As the US dollar index (DXY) is projected to extend losses below 106.30, the upside stays favored. After a good fall to the round-number support around 1.2100, the asset has resumed its general uptrend.

 

As investors await the Bank of England's monetary policy decision, the cable might exhibit some volatility in the near future (BOE). In consideration of market expectations, BOE Governor Andrew Bailey will raise interest rates to 1.75 percent as a second successive 50 basis point (bps) increase is anticipated.

 

No one could dispute the reality that households in the United Kingdom are suffering tremendous pricing pressures. The inflation rate has risen to 9.4 percent, and there have been no indicators of a peak as of yet. The rate of inflation might reach double digits if the rate of price growth continues to accelerate, and families will be forced to pay more for identical quantities.

 

Well, a 50 basis point rate boost is insufficient to battle the inflation monster. However, dismal growth estimates and a decrease in the Labor Cost Index prevent the BOE from sounding excessively hawkish.

 

On the dollar front, the US dollar index (DXY) is experiencing uncertain movement as the visit to Taiwan by US House Speaker Nancy Pelosi has exacerbated protracted Sino-US tensions. The United States has held the global leadership position for a considerable amount of time, and China is keen to take over. Therefore, the United States' backing for Taiwan, a country with enormous technical potential, has exacerbated tensions between the United States and China.


Suggestion