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According to the National Bureau of Statistics, steel production in December 2025 was 115.31 million tons, a year-on-year decrease of 3.8% and a month-on-month decrease of 0.5%; production from January to December was 1,446.12 million tons, a year-on-year increase of 3.1%.January 19th - Today (January 19th), the Hainan Provincial Information Office held a press conference to introduce the progress of the Hainan Free Trade Ports customs closure in the first month and answer reporters questions. Guan Jirong, Executive Deputy Director of the Hainan Provincial Deepening Reform Office (Free Trade Port Working Committee Office), stated that since the official launch of the island-wide customs closure operation on December 18, 2025, the Hainan Free Trade Port has achieved the expected goals of a smooth start and initial results. Overall, it presents a positive trend of comprehensive policy implementation, smooth and efficient "first-line" operations, stable and orderly "second-line" operations, effective stimulation of vitality, and overall controllable risks.According to the National Bureau of Statistics, pig iron production in December 2025 was 60.72 million tons, a year-on-year decrease of 9.9% and a month-on-month decrease of 2.6%; production from January to December was 836.04 million tons, a year-on-year decrease of 3.0%.According to the National Bureau of Statistics, crude steel production in December 2025 was 68.18 million tons, a year-on-year decrease of 10.3% and a month-on-month decrease of 2.4%; production from January to December was 960.81 million tons, a year-on-year decrease of 4.4%.January 19th - According to data from the National Bureau of Statistics, Chinas total grain output for the year reached 714.88 million tons, an increase of 8.38 million tons, or 1.2%, compared to the previous year. Summer grain output was 149.75 million tons, a decrease of 0.1%; early rice output was 28.51 million tons, an increase of 1.2%; and autumn grain output was 536.62 million tons, an increase of 1.5%. By variety, wheat output was 140.07 million tons, basically unchanged; corn output was 301.24 million tons, an increase of 2.1%; rice output was 209.04 million tons, an increase of 0.7%; and soybean output was 20.91 million tons, an increase of 1.3%. Total pork, beef, mutton, and poultry output for the year reached 100.72 million tons, an increase of 4.2% compared to the previous year, exceeding 100 million tons for the first time. Pork output was 59.38 million tons, an increase of 4.1%; beef output was 8.01 million tons, an increase of 2.8%; mutton output was 4.96 million tons, a decrease of 4.2%; and poultry output was 28.37 million tons, an increase of 6.7%. Milk production reached 40.91 million tons, an increase of 0.3%; poultry egg production reached 34.98 million tons, a decrease of 2.5%. The total number of pigs slaughtered throughout the year was 719.73 million, an increase of 2.4%; the number of pigs in stock at the end of the year was 429.67 million, an increase of 0.5%.

EURJPY is trading below 146.50 as hawkish ECB bets increase

Daniel Rogers

Nov 10, 2022 18:40

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Following a modest decline to approximately 146.40 during the Tokyo session, the EURJPY pair has witnessed resumed purchasing. Once the cross above the immediate barrier of 146.70, the trend may change to a positive trajectory. S&P500 futures have significantly risen as the positive risk urge gains strength. In addition, long-term US Treasury yields are under pressure due to greater expectations of a lower Federal Reserve (Fed) rate hike than in the past.

 

As bets on a hawkish monetary policy by the European Central Bank (ECB) have strengthened, the Shared Currency bulls are gaining ground. As the Harmonized Index of Consumer Prices (HICP) lingers near double digits, Christine Lagarde, president of the European Central Bank (ECB), may decide to continue raising interest rates.

 

A research conducted by the ECB to assess consumer inflation expectations, assuming respondents continue to anticipate inflation of 3% in three years and 5.1% in the coming year.

 

During an interview in Riga, Bloomberg reported that ECB Governing Council member Martins Kazaks prefers not to dictate an interest rate ceiling. He added that borrowing costs "remain substantially below where they should be" and must rise to levels that reflect monetary tightening, not just a reduction in stimulus.

 

In the meantime, Governor Haruhiko Kuroda of the Bank of Japan (BOJ) has remarked that it is premature to consider the end of ultra-dovish interest rate policy. In an effort to raise aggregate demand, the administration has unveiled two distinct stimulus measures this week. Therefore, it looks unlikely that an ultra-dovish monetary policy will be abandoned.


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