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On January 8th, it was learned from industry sources that the Property Insurance Supervision Department of the State Financial Regulatory Commission issued a "Notice on Issuing the Regulations on the Management of Non-Motor Insurance" (Jin Cai Xian Si Han [2025] No. 639) on the last day of 2025, providing answers to various issues in the comprehensive management of non-motor insurance. The State Financial Regulatory Commission stated that non-motor insurance business is diverse and complex, and the comprehensive management of non-motor insurance should be carried out in an orderly manner according to the principles of "legal compliance, seeking truth from facts, establishing before dismantling, and steady progress," striving for practical results. Each financial regulatory bureau should continue to strengthen the comprehensive management of non-motor insurance in its local institutions, implementing it in a detailed and tailored manner while complying with unified regulatory policies. All property insurance companies and insurance intermediaries must fulfill their primary responsibilities.A Bank of England policymakers survey found that in the three months to December, businesses expected their product prices to rise by 3.6% over the next year, down 0.1 percentage points from the three months to November.A Bank of England policymakers survey showed that expectations for wage growth over the next year fell slightly by 0.1 percentage point to 3.7% in the three months to December.On January 8th, CGN Power announced that from January to December 2025, the total power generation of the nuclear power units operated and managed by the group will be approximately 247.013 billion kWh, an increase of 2.00% compared to the same period last year. The total on-grid power generation will be approximately 232.648 billion kWh, an increase of 2.36% compared to the same period last year.On January 8th, Jens Naervig Pedersen, an analyst at Danske Bank, pointed out in a report that the recent strength of the pound appears somewhat excessive, benefiting from improved risk sentiment and easing concerns about UK fiscal policy. He stated, "The UK economy remains fundamentally weak, which we believe could trigger further easing measures from the Bank of England." He added that domestic factors and the gap in growth prospects between the UK and the Eurozone are unfavorable for the pound, especially given the UKs tightening fiscal policy while the Eurozone is benefiting from increased fiscal stimulus. Therefore, he believes there is a high probability that the pound will begin to weaken against the euro from current levels.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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