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On June 26, Leapmotor launched its first MPV model, the D99, equipped with dual Qualcomm SA8797 chips, a full-modal AI large model, and standard four-wheel drive system and continuously variable damping shock absorbers. It offers two power options: range-extended and pure electric, with prices starting from 249,800 yuan.On June 26th, according to Qichacha APP, Hangzhou Feikuo Technology Co., Ltd. recently underwent industrial and commercial registration changes, adding Zhiyuan Innovation (Shanghai) Technology Co., Ltd., an affiliate of Zhiyuan Robotics, as a shareholder, and increasing its registered capital to 1.07 million yuan. Qichacha information shows that the company was established in 2024, and its business scope includes: R&D of intelligent robots; manufacturing of industrial robots; manufacturing of intelligent unmanned aerial vehicles; and sales of artificial intelligence hardware. Public information shows that Feikuo Technology, as a secondary development company, accurately targets the scenario-based application of robot-embodied intelligence.On June 26, Xi Jinping, General Secretary of the CPC Central Committee and President of China, met with Hun Sen, Chairman of the Cambodian Peoples Party and President of the Senate, at the Great Hall of the People. Xi Jinping emphasized that the current international and regional situation is undergoing complex and profound changes, and China and Cambodia should work together to demonstrate their responsibility amidst change and uphold justice amidst chaos, injecting more stability into regional peace and development. China is willing to establish a security partnership with Cambodia. China highly appreciates Cambodias determination and actions in combating telecommunications and online fraud and is willing to work with Cambodia to continue its efforts to completely eradicate this "cancer" of telecommunications fraud.On June 26th, XPeng Robotics Center announced the establishment of nine new secondary departments. He Xiaopeng, who previously announced his personal appointment as head of the Robotics Center, also currently serves as the head of the Product Department, directly reporting to the heads of various organizations within the Product Department. Additionally, He Xiaopeng reports directly to Gu Jie, Liu Xianming, and Yu Tao, who respectively head the Embodied Systems Engineering Department, the General Base Department (virtual), and the Brand Marketing Department (acting). Previously, He Xiaopeng stated in an internal letter that he dedicates a full day each week to "in-depth thinking and discussion about the robotics business and the robotics team." Currently, XPeng Robotics Center comprises nine secondary departments: Product Department, Embodied Systems Engineering Department, Control and Safety Development Department, Embodied Intelligence Department, Data Closed-Loop Department, General Base Department (virtual), Product Matrix Department (virtual), Brand Marketing Department, and Project Management Department.June 26 - According to information released by Moscow Mayor Sergei Sobyanin via social media on June 26 local time, between 2:24 AM and 7:23 AM that day, Russian air defense systems shot down 47 drones heading towards Moscow. The Russian Ministry of Defense also reported early on the 26th that overnight, Russian air defense forces intercepted and destroyed 660 Ukrainian fixed-wing drones in multiple locations.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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