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According to RIA Novosti, Russian air defense forces shot down 21 Ukrainian drones at night.On August 31st, the China Securities Association reported that in the first half of 2025, all listed companies achieved operating revenue of 35.01 trillion yuan, a year-on-year increase of 0.16%. Second-quarter revenue reached 18.11 trillion yuan, a year-on-year increase of 0.43% and a quarter-on-quarter increase of 7.15%. Net profit in the first half of the year reached 3.00 trillion yuan, a year-on-year increase of 2.54%, an increase of 4.76 percentage points over the previous years full-year growth rate. Nearly 60% of companies in the market saw positive revenue growth, and over three-quarters were profitable. 2,475 companies saw positive net profit growth, and 1,943 companies saw both revenue and net profit growth.Joerg Kraemer, economist at Commerzbank: The recent strengthening of the euro, especially against the US dollar, is likely to continue in the coming months, which will reduce the price competitiveness of European products on the world market.Conflict Details: 1. Russian Ministry of Defense: Russian forces occupied Komishuvakha in eastern Ukraine. 2. The Ukrainian military said it attacked oil refineries in Krasnodar and Syzran at night. 3. The Ukrainian Air Force said Russia launched 537 drones and 45 missiles during the nighttime attacks. 4. Russian Ministry of Defense: Russia attacked Ukrainian businesses, rocket and aviation facilities, and military airfields at night. 5. The regional governor stated that Russias attack on Zaporizhia, Ukraine, resulted in one death and at least 24 injuries. 6. Russian Chief of the General Staff Gerasimov: Russian forces are continuing their offensive along all fronts, and the task of establishing a buffer zone along the border between the Ukrainian Sumy and Kharkiv regions is progressing smoothly. 7. Russia and Ukraine are engaged in fierce battles over the key cities of Krasnodar (also known as Pokrovsk in Ukraine) and Konstantinovka in the Donetsk region. Other Developments: 1. Hungarian Foreign Minister: The European Commission has become a "Ukrainian Commission," representing the interests of Ukraine, not those of an EU member state. 2. EU High Representative for Foreign Affairs and Security Policy Kallas stated that the return of frozen Russian assets to Russia is unthinkable unless Russia pays war reparations for Ukraine. 3. Ukrainian President Zelensky stated that Moscow exploited the lead-up to the summit to launch the attack and called for energy and banking sanctions. 4. Russian Chief of the General Staff Gerasimov stated that Russia controls 99.7% of Ukraines Luhansk region, 79% of the Donetsk region, 74% of the Zaporizhia region, and 76% of the Kherson region. 5. EU High Representative for Foreign Affairs and Security Policy Kallas stated that EU countries have been asked to submit proposals for new sanctions against Russia next week.On August 31, officials of the Yemeni Houthi armed forces issued a statement saying that the group is ready to confront Israel after Israel launched an airstrike in Sanaa on Thursday, killing a senior official.

GBP/USD Attempts To Protect 1.2300 As Market Sentiment Remains Tenuous Due To Rising Crude Prices

Daniel Rogers

Apr 03, 2023 14:15

During the Asian session, the GBP/USD pair is attempting to defend its round-number support level at 1.2300. As a consequence of OPEC+'s announcement of additional oil production cuts, investors in the early Tokyo session discounted the impact of higher oil prices on the Cable. Concerns about global inflationary pressures have been reignited by the crude price increase. Therefore, it may be necessary for central banks to maintain high interest rates for an extended period of time.

 

Following a series of favorable sessions last week, S&P500 futures reported significant losses during the Asian session, as higher oil prices will increase input costs for companies that rely on oil for transportation and manufacturing. The sentiment on the market has deteriorated, and risk-perceived assets have been punished.

 

The US Dollar Index (DXY) is exhibiting a minor correction after reaching a new weekly peak of 102.95. The impact of the deceleration in the US core Personal Consumption Expenditure (PCE) Price Index data on the USD Index was mitigated by rekindled inflation expectations in the United States due to higher crude prices.

 

The US PCE Price Index increased by 0.3% on a monthly basis, which was below both the consensus estimate of 0.4% and the prior reading of 0.5%. In addition, the annual rate of US PCE inflation decreased to 4.6% from 4.7% in the previous report and the consensus estimate.

 

If inflation spikes due to elevated crude prices, the Federal Reserve (Fed) may contemplate additional rate hikes in May.

 

Increasing inflationary pressures on the front of the British Pound are causing the Bank of England more trouble. (BoE). As food prices continue to rise, retail price inflation has increased in the United Kingdom. Moreover, labor shortages continue to influence inflation expectations. However, BoE policymakers are optimistic that the rate of inflation in the United Kingdom will soon begin to fall sharply.


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