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On September 11th, gold prices continued to soar, prompting many investors to cash in their gold holdings. However, several Taobao merchants have suspended their buyback services. Customer service representatives from the relevant merchants responded, stating, "Due to recent adjustments to platform regulations, buybacks are temporarily unavailable." One merchant further explained, "Taobaos merchant regulations have prevented our recycling process from proceeding normally." Contacting Taobao regarding this situation has not yet resulted in a response.On September 11th, rumors circulated that Dreame Technology was facing bankruptcy, Mova was closing, and the Suzhou government was planning to take over Dreame. Dreame founder Yu Hao responded via WeChat Moments, stating, "Dreami has sufficient cash flow and is operating well. Furthermore, in the past two years, the company and he personally invested approximately 5 billion yuan to repurchase existing shares at a high price, increasing his shareholding from 45% to 70%. All exiting investors have made money, and early investors have earned dozens of times more."On September 11, most short-term Shibor rates rose. The overnight Shibor rate fell 5.6 basis points to 1.369%, the 7-day Shibor rate rose 1.7 basis points to 1.466%, the 14-day Shibor rate rose 0.9 basis points to 1.51%, and the 1-month Shibor rate rose 0.2 basis points to 1.53%.Fitch: The financial position of gas operators in Asia Pacific remains strong.On September 11th, the State Council Information Office held a press conference this morning on the theme of "High-Quality Completion of the 14th Five-Year Plan," highlighting the achievements of health care during the 14th Five-Year Plan period. According to the report, from 2020 to 2024, the number of primary healthcare institutions will increase from 970,000 to 1.04 million, the number of healthcare personnel will increase from 4.34 million to 5.26 million, and the number of medical consultations will increase from 4.1 billion to 5.3 billion.

GBP/USD is Testing 1.3020 and is Under Pressure at the Hourly Resistance Level

Drake Hampton

Apr 22, 2022 09:55

GBP/USD is flat in Asia at 1.3029, pressured by an hourly barrier, and has traded in a narrow range between 1.3022 and 1.3035. However, the pound has been losing ground against a strong euro, while remaining relatively stable against the US dollar in the late afternoon on Wednesday.

 

Overnight, investors focused on hawkish comments from European Central Bank officials, which fueled speculation that the central bank will soon boost interest rates, sending the euro to a one-week high. It was also solid in anticipation of French President Emmanuel Macron's reelection victory on Sunday following yesterday's debate.

 

Joachim Nagel, president of Germany's Bundesbank, joined a chorus of experts in predicting an ECB rate hike in the third quarter. Meanwhile, traders have remained focused on the Bank of England's future monetary policy course.

 

The Bank of England modified its rhetoric last month on the necessity for additional interest rate hikes while emphasizing the economy's downside risks. Catherine Mann, a Bank of England monetary policymaker, provided an in-depth and counterbalancing assessment of the MPC's issues.

 

"The critical aspect was the need to combat inflation," analysts at Westpac said, adding that the latter was viewed as more worrying and exhibiting signs of spreading to pricing schemes (second-round effects), including front-loaded rate hikes. "While tightening may be reconsidered if demand deteriorates, the converse may also be true if the economy continues to perform well and inflation remains persistent.' By the end of 2022, money markets are pricing in 160 basis points of BoE rate hikes.

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