Daily News 09 05 2025

Important News of the Day

Time Important Country Event Forecast Previous Actual
02:30 Japan (JPY) Household Spending (YoY) (Mar) 0.2% -0.5% 2.1%
02:30 Japan (JPY) Household Spending (MoM) (Mar) -0.5% 3.5% 0.4%
06:00 China (CNY) Exports (YoY) (Apr) 1.9% 12.4% 8.1%
06:00 China (CNY) Imports (YoY) (Apr) -5.9% -4.3% -0.2%
06:00 China (CNY) Trade Balance (USD) (Apr) 97.00B 102.64B 96.18B
10:00 Switzerland (CHF) SECO Consumer Climate (Q2) -34 -21 -39
11:40 United Kingdom (GBP) BoE Gov Bailey Speaks
12:00 China (CNY) New Loans (Apr) 3,640.0B
12:55 United States (USD) Fed Vice Chair for Supervision Barr Speaks
13:15 United States (USD) FOMC Member Williams Speaks
14:15 United Kingdom (GBP) BoE MPC Member Pill Speaks
15:00 United Kingdom (GBP) NIESR Monthly GDP Tracker (Apr) 0.6%
15:30 Canada (CAD) Employment Change (Apr) 4.1K -32.6K 7.4K
15:30 Canada (CAD) Unemployment Rate (Apr) 6.8% 6.7% 6.9%
15:30 United States (USD) FOMC Member Williams Speaks
18:30 United States (USD) Fed Waller Speaks
18:30 United States (USD) FOMC Member Williams Speaks
20:00 United States (USD) U.S. Baker Hughes Oil Rig Count 479 474
20:00 United States (USD) U.S. Baker Hughes Total Rig Count 584 578
22:30 United Kingdom (GBP) CFTC GBP speculative net positions 24.0K
22:30 United States (USD) CFTC Crude Oil speculative net positions 177.2K
22:30 United States (USD) CFTC Gold speculative net positions 163.3K
22:30 United States (USD) CFTC Nasdaq 100 speculative net positions 30.9K
22:30 United States (USD) CFTC S&P 500 speculative net positions -78.7K
22:30 Australia (AUD) CFTC AUD speculative net positions -49.9K
22:30 Japan (JPY) CFTC JPY speculative net positions 179.2K
22:30 Euro Zone (EUR) CFTC EUR speculative net positions 75.8K

Are we seeing the end of the UK's political duopoly?

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Labour and the Conservatives have had a stranglehold on political power for decades — but as Reform UK's victory in last week's election shows, this now appears to changing.

Britons awoke last Friday to images of a giddy Nigel Farage.The leader of Reform UK, an anti-immigration, populist right-wing party which has surged in the polls in recent months, was celebrating his candidate’s narrow victory in a by-election in Runcorn and Helsby, a constituency in northwest England. Below his beaming smile, Farage showed just how tight the race was by holding up six fingers to represent the six deciding votes. “It may be a small margin but it’s a huge win,” he said, congratulating his colleague Sarah Pochin, who had become Reform’s fifth MP and the first woman to represent the party in Westminster.Overturning Labour’s almost 15,000-vote majority in Runcorn and Helsby was indeed an enormous win, but Reform’s performance in last Thursday’s local elections sent an even starker political message to its opponents.Reform gained control of 10 of the 23 councils up for grabs, and won 677 of the 1,600 council seats being contested. It also finished first in two mayoral elections — one in Greater Lincolnshire, the other in Hull & East Yorkshire. Conversely, support for the Conservatives and Labour, the historically dominant forces in British politics, crumbled: the parties lost 674 and 187 local seats respectively, and neither won control of a single council. As the scale of his success began to emerge, Farage said the country was now experiencing a “whole different politics”. “We are now the opposition party in the UK to Labour, and the Tories [the Conservatives] are a waste of space,” he declared. Beyond two-party politics Over the past week, many political commentators have suggested that Britain’s decades-long political duopoly could be over. “The results confirm that we're in an era of four or even five-party politics," said Tim Bale, a politics professor at Queen Mary University of London. "The fragmentation of the party system has been going on really since the mid-1970s, but it's accelerated considerably over the last few years.”“And as a result, we've seen the domination of Labour and the Conservatives possibly come to an end for good.”While Reform came first by some distance in the local elections, the Liberal Democrats also did well, making inroads in plenty of former Tory strongholds. Reform’s rise is partly the result of the traditional parties’ failure to tangibly improve people’s lives and public services, and their tendency to overpromise and underdeliver, according to Bale — who also points to a growing impatience at the speed of political change.A problem for Labour, a crisis for the ConservativesPolitical analysts told Euronews that Farage’s win last Thursday posed a problem for Labour, but a much greater threat to the Conservatives. As the next general election doesn’t have to be held until 2029, Labour, the ruling party, still has up to four years to set the agenda and attempt to bring about the change they have promised, the experts said. Government success could dent Reform’s popularity.“They have to hope that the things that parties used to be able to provide — economic growth, improvements in living standards, relatively good quality public services — will in the end be more attractive to voters than the emotive performance politics that they get from leaders like Nigel Farage,” said Bale. However, the Conservatives, who did disastrously in July’s general election after 14 years in power, do not have as strong a hand to play. While cautioning that local elections are not always indicative of voting behaviour at general elections, Robert Ford, a political scientist at the University of Manchester, said the Tories could face “an existential crisis” at the national level. “The most successful election-winning machine in British history — and one of the most successful in world democratic history — has been absolutely knocked to the canvas here,” he said, referring to this year’s local elections, a far cry from their performance four years earlier. “They went from being the party of everywhere in 2021 to being the party of nowhere in 2025. They got completely wiped out, lost every single council and 70% of their council seats.” Ford noted that it will be difficult for the Tories to rebuild their brand in opposition, as unlike Labour, they have fewer opportunities at their disposal. According to the latest YouGov polling, if a general election were held tomorrow, 9% of 2024 Labour voters would choose Reform, as would 26% of Conservative voters.Still, it may be too early to declare the Tories dead, said YouGov Director of Political Analytics Patrick English. “The two most-established parties of British politics have survived everything thrown at them for the past 120 years, so we probably shouldn't write either of them off,” English noted. “What the last few months of polling, and the general election, have been telling us is that Labour and the Conservatives face serious, structural challenges to their voter coalition and supporter base which they do not, currently, seem properly equipped to deal with,” he added.The trap of Farageism Both Labour and the Conservatives need to focus on themselves, said Ford, rather than being tempted to ape Farage’s politics. He cited the example of immigration and the Conservative former Prime Minister Rishi Sunak’s pledge to “stop the boats” bringing migrants over from Europe. “They have been trying to offer people a poundshop, knock-off Farage. But no one wants that. Why would you accept the knock-off when you can have the original?” he said. Labour should also be wary too, he warned. “They need to have this fight on their terrain, not on Farage's terrain. It needs to be a home fixture, not an away fixture.” Both traditional parties will hope that Reform struggles under the scrutiny that comes with controlling local councils, or that it starts to suffer from the fragmentation to which radical-right parties are prone. Asked whether Farage could become prime minister in the coming years, Ford said it was “still not the likeliest outcome”, but that “it's a substantially more plausible outcome than it was a week ago”. “These are the kind of results in terms of depth and breadth and strength of support that Farage needs if he's to be a credible aspirant for power,” he said. English, the YouGov political analyst, said only time would tell. “There is nothing in the data we can currently see to suggest that Farage and Reform UK will fade away any time soon.” “In fact, there is plenty to suggest the opposite — that their support will continue to grow and solidify. But we are years away from the next general election, and so much can happen in between now and then.”The death of ‘first past the post’? One thing that the local election results have made clearer is the potential need to change the UK’s first-past-the-post (FPTP) system, which historically has given the bigger parties, Labour and the Conservatives, an advantage. For example, with just 33.7% of the vote in last year’s general election, Labour won 412 of the country’s 650 seats. But with Reform’s growing popularity, it is not just the main two parties who can now benefit disproportionately from the current system. Farage’s party proved as much in the local elections, where it won around 31% of the vote but gained a much higher percentage of councillors. The UK’s changed political landscape may start to change minds among those who have always backed FPTP. ”If you are a Conservative or Labour politician or activist or voter who views a Nigel Farage majority government as the worst of all possible outcomes, there is only one electoral system that will ever deliver that outcome. And that is FPTP,” said Ford. “Electoral reform is not just about what it enables, it is about what it prevents.”

World leaders congratulate Pope Leo XIV who opened pontificate with call for peace

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Pope Leo XIV's pontificate appears to be one of peace and hope, as he called for a 'disarming and disarmed peace' in his opening address.

Shortly after making his first appearance on the Vatican balcony on Thursday, leaders around the world sent messages of congratulations to the new pope, 69-year-old Robert Francis Prevost, who chose the papal name Leo XIV. Prevost, a Chicago native but also a Peruvian citizen, is the first US citizen to hold the position of head of the Roman Catholic Church. There had long been a taboo against a US pope, given the country's geopolitical heft in the secular sphere. US President Donald Trump wrote on Truth Social that he looks forward to meeting the new pontiff, and said it is "an honor to realise that he is the first American Pope. What excitement, and what a Great Honor for our Country."Vice President JD Vance is sure "millions of American Catholics and other Christians will pray for his successful work leading the Church," he wrote in a post on X. A pontificate of peacePope Leo's pontificate seems to be cantered around the theme of peace, in his first public address from the balcony of St. Peter's Basilica, he described it as “disarming and humble and preserving peace, coming from God.”"I would like this greeting of peace to enter your hearts, to reach your families and all people, wherever they are; and all the peoples, and all the earth: Peace be with you," the pontiff added. This sentiment was mirrored in many of the congratulatory messages from world leaders.French President Emmanuel Macron called the pope's election a "historic moment" and hoped "this new pontificate be one of peace and hope." UK Prime Minister Keir Starmer also called it a "momentous moment," and said the Holy See "has a special role to play in bringing people and nations together to address major issues of our time." "This is a deeply moving moment," Poland's President Andrzej Duda said. "In Poland, we experience it with great emotion and hope." A time of conflict and unrestGreek Prime Minister Kyriakos Mitsotakis congratulated the new pope and said his leadership comes at a time when the "world faces profound challenges but also great opportunities for unity, compassion, and dialogue among peoples and faiths."And Spain's Prime Minister Pedro Sánchez hoped the pontificate could strengthen "dialogue and the defense of human rights.""In a time marked by conflicts and unrest, his words from the Loggia of Blessings are a powerful call for peace, fraternity, and responsibility," Italy's President Giorgia Meloni wrote.Ukrainian President Volodymyr Zelenskyy congratulated Pope Leo XIV on his election and said he hoped for the "continued moral and spiritual support of the Vatican in Ukraine's efforts to restore justice and achieve a lasting peace.""Ukraine deeply values the Holy See's consistent position in upholding international law, condemning the Russian Federation's military aggression against Ukraine, and protecting the rights of innocent civilians," he added.A disarmed and disarming peacePresident of the European Commission Ursula von der Leyen wishes that Pope Leo XIV's "pontificate be guided by wisdom and strength, as he leads the Catholic community and inspires the world through his commitment to peace and dialogue." And António Costa, the President of the European Council, said that "in times of division and uncertainty, his spiritual leadership can help inspire unity, compassion, and peace."When asked how he interpreted the pontiff's message of a "disarmed and disarming peace," Costa told Euronews that the message was a "moral" one, but admitted that "in this ideal world, we wouldn't need weapons, because we wouldn't have threats." "Unfortunately, in real life, there are threats. We need to defend ourselves. And what we've learned is that peace without defence is an illusion," he added.Secretary-General of the United Nations António Guterres said the world "is in need of the strongest voices for peace, social justice, human dignity & compassion," and added that the UN looks forward to work together with the Holy See "to advance solidarity, foster reconciliation & build a just and sustainable world for all."

US-backed group issues proposal to take over Gaza aid distribution from UN, reports claim

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Aid workers have criticised the plans, saying the proposal can't meet the needs of Gaza's large population and would forcibly displace large numbers of Palestinians by forcing them to move nearer aid hubs.

A group of US security contractors, former military officers and humanitarian aid officials is proposing to take over the distribution of aid to Gaza based on plans similar to ones designed by Israel.According to a proposal from the newly created group, the Gaza Humanitarian Foundation (GHF), obtained by AP, the idea is to implement a new aid distribution system supplanting the current one run by the UN and other international aid agencies.The 14-page proposal circulated this week among aid groups and UN officials lays out plans similar to those Israel has been discussing privately with international aid groups for weeks.Under the new group's proposal, Palestinians would receive pre-packaged rations, potable water, hygiene kits, blankets and other supplies at four distribution hubs under the protection of private security contractors.The group said it wants to partner with the UN and international aid groups in handing out their supplies.A US official confirmed the authenticity of the proposal and said David Beasley, the former director of the UN World Food Program, is the lead choice to run GHF.The official, speaking on condition of anonymity to discuss plans that have not been made public, said the proposal could still be revised, and Beasley's role is not confirmed.Israel has blocked food, fuel, medicine and all other supplies from entering Gaza for 10 weeks, worsening a humanitarian crisis for the 2.3 million Palestinians living in the enclave.Officials say the aim of the blockade is to force Hamas militants to release the 59 hostages they still hold in Gaza.Israel has also said it won't allow aid back into the Strip until a system is in place that gives it control over distribution.A UN official said last week that Israel's plans would "weaponise aid" by placing restrictions on who is eligible to receive it.Israel accuses Hamas and other militants of siphoning off large amounts of aid for personal gain and to strengthen their units. The UN and aid workers deny there is a significant diversion.How would the proposal work?According to the document, GHF would initially set up four distribution sites, each serving 300,000 people.That would cover about half of Gaza's population. The system would be scaled up to meet the needs of 2 million people.But the proposal does not provide a timeframe, and aid workers warn that food is rapidly running out in Gaza under Israel’s blockade.The GHF proposal said subcontractors would use armoured vehicles to transport supplies from the Gaza border to distribution sites, where they would also provide security.It did not specify who would provide security but said it could include personnel who previously worked in the Netzarim Corridor, an Israeli-held zone cutting off northern Gaza.A private logistics and operations company, Safe Reach Solutions, has operated in the corridor.GHF said people would receive assistance based on need, with no eligibility requirements. Aid workers say Israel has said it intends to vet aid recipients and screen them using facial recognition.What have aid groups said?Aid workers have criticised the plans, saying the proposal could not possibly meet the needs of Gaza's large population and that they would forcibly displace large numbers of Palestinians by forcing them to move nearer to the aid hubs.Throughout the Israel-Hamas war in Gaza, the UN and other humanitarian groups have been carrying out a massive aid delivery programme.They have trucked in supplies and distributed them across the territory, going as close as possible to where Palestinians were located.What has chiefly hampered the system, aid workers have said, are Israeli military operations and restrictions on movement, as well as the low amount of aid allowed to enter even before the blockade.Convoys have also been attacked by criminal groups stealing aid, and Palestinians have sometimes taken supplies from trucks.Aid workers have cast doubt on whether GHF would meet humanitarian requirements for neutrality and independence.Shaina Low, communications adviser for Norwegian Refugee Council, one of the main organisations in Gaza, said aid groups are concerned the plan will be used "to advance military and political goals."By forcing the population to relocate around aid hubs, the system would "depopulate entire parts of Gaza" and could be used to potentially expel the population, she said."They are framing (the plan) to fix the problem that doesn't really exist," she said, referring to Israel's claims that it must prevent Hamas from stealing aid.The use of private security companies has also alarmed humanitarian workers. While it's common for private security firms to operate in conflict zones, they have to respect humanitarian law and, at minimum, be fully vetted and monitored, said Jamie Williamson, executive director of the International Code of Conduct Association.Tamara Alrifai, communications director for the UN agency for Palestinian refugees, UNRWA, which has led the aid effort in Gaza, said the plan was logistically unworkable.She said the foundation does not appear able to match the current infrastructure needed to distribute food and address other humanitarian needs.

Kazakhstan to regain legendary Soviet space launch site, 'Gagarin's start'

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The transfer of "Gagarin's Start", the launchpad for the world's first spaceflight, will be finalised by June.

Russia will return the oldest and most famous launch pad in the Baikonur Cosmodrome, also known as “Gagarin’s Start,” to Kazakhstan, handing it over by 1 June.Kazakhstan plans to turn the world’s first crewed space launch site — which was decommissioned back in 2019 — into a museum.“The Gagarin’s Start was decommissioned due to its unsuitability for launching the new Soyuz-2 rockets, which are now launched from the 31st platform of the cosmodrome,” said the spokesperson for the Kazakh Ministry of Digital Development, Innovation and Aerospace Industry.To fund the site's modernisation, Russia and Kazakhstan partnered with the United Arab Emirates and signed a trilateral agreement in 2021.However, the project stalled amid shifting geopolitical dynamics. Russia’s war in Ukraine forced countries to reevaluate their partnership and the use of Soyuz-2 rockets.In the meantime, Russia turned its attention to its own launching sites of Plesetsk and Vostochny, shifting commercial launches to one of them.While it still leases Baikonur from Kazakhstan until 2050, it has presented Kazakhstan with a list of 234 facilities it no longer needs, to be struck from the lease agreement. According to authorities, 53 have already been accepted by the Kazakh side.“The Russian side will continue to use the Baikonur Cosmodrome in the future. A total of nine launches were planned for 2025, of which two were completed,” the ministry said.Meanwhile, Kazakhstan continues to develop its own Baiterek space complex, though progress has been slow. Experts warn that delays, coupled with the waning relevance of Baikonur, could result in outdated infrastructure and missed economic opportunities.From launch site to heritage landmarkThe Gagarin’s Start, also known as Baikonur Site 1 or Site 1/5, holds deep historical significance. In 1961, Yuri Gagarin became the first human to journey into space from this pad. The Earth’s first artificial satellite, Sputnik, was also launched from this pad.After mulling over an upgrade, Russia’s space agency Roscosmos initially proposed turning the launch pad into a museum, citing the importance of preserving the site as a global heritage site. Soon to be in charge of the project, Kazakhstan hopes to increase Baikonur's tourism potential by opening it to the public.“Given the historical significance of the Gagarin’s Start and for the purpose of developing tourism at the Baikonur complex, the Kazakh side, in collaboration with the Russian side, plans to create a museum complex dedicated to the history of space exploration,” said the statement by the Kazakh ministry.The future museum will showcase rockets, space equipment and other artefacts from Baikonur’s 70-year history.Both sides will also work on including the launch pad in the UNESCO World Heritage List.Currently, visiting Baikonur requires a special permit issued two months in advance, limiting broader access. The ministry said it was working on reducing the time needed to obtain the access permit and develop a digital pass.Officials hope the museum project will boost the region's domestic and international tourism.

North Korea says Kim Jong-un supervised missile tests simulating strikes on rivals

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South Korea condemned the launches as 'a clear act of provocation' and linked them to North Korea's suspected weapons exports to Russia.

North Korean leader Kim Jong-un has overseen a series of short-range ballistic missile tests simulating tactical nuclear counter attacks against US and South Korean forces, state media have reported, as Pyongyang blamed joint military drills by its adversaries for raising tensions.According to the Korean Central News Agency, Thursday's tests were part of training exercises aimed at enhancing the operational effectiveness of missile and rocket units under North Korea's nuclear command structure. The launch demonstrated the "rapid counteraction posture" of the regime's forces in response to a nuclear threat, the agency said.The tests involved a mobile ballistic missile system resembling Russia's Iskander and 600-millimetre multiple rocket launchers. South Korean officials classify both systems as ballistic missiles due to their guided trajectories and propulsion capabilities. Kim Jong-un reportedly emphasised the need to expand the role of nuclear forces in both deterrence and combat scenarios. He called for enhanced military preparedness and improved precision strike capabilities, criticising joint military drills by the United States and its allieds, which North Korea views as provocative.South Korea's military had earlier detected several launches from North Korea's eastern coast, with missiles fired between 8:10-9:20 am from the vicinity of Wonsan. The longest-range projectile travelled approximately 800 kilometres, according to the Joint Chiefs of Staff.Lee Sung-joon, spokesperson for the Joint Chiefs, said the launches may have also served to test weapons intended for export, particularly amid suspicions that North Korea continues to provide military support to Russia in its war against Ukraine.South Korea's Unification Ministry condemned the launches as a "clear act of provocation" and a violation of UN Security Council resolutions. Spokesperson Kim Inae said the tests posed a threat to regional peace and stability.Japan's Defence Minister Gen Nakatani confirmed that no missiles entered Japan's exclusive economic zone and there was no reported damage to aircraft or maritime traffic.The launches mark North Korea's sixth known missile event this year and the first since 10 March, when the regime fired multiple projectiles in response to annual joint US-South Korea military exercises.In a separate development, KCNA reported that Kim visited the Russian Embassy in Pyongyang on Friday to mark the 80th anniversary of the Soviet victory over Nazi Germany. During the visit, he praised the "long-standing strategic relationship" between North Korea and Russia.The weapons tests come just a day after Kim urged increased production of artillery shells, further signalling his deepening military ties with Moscow.

NDXUSD

Analysis
09 May 2025 08:50

As long as the transition to the U.S. interest rate cut policy is on the agenda, it is anticipated that pullbacks in the NASDAQ Index may remain limited. In the currency pair, which appears risky for assessing short positions, we continue to foresee that it may exhibit a strong stance depending on expectations regarding the Fed's interest rate policy. Based on the support levels for the index, it is deemed appropriate to execute transactions in the direction of buying.

DAXEUR

Analysis
09 May 2025 08:49

Due to the triggering of geopolitical risks and the escalation of tensions between India and Pakistan, the threat of nuclear weapons has partly led to selling in stock indices, which negatively impacted stock indices and caused a negative effect on many countries' economies. Transactions (buying) are deemed appropriate for the DAX Stock Index, which is expected to progress positively due to the ECB's interest rate cut policy, based on support levels.

WTIUSD

Analysis
09 May 2025 08:47

The rapid transition to electric vehicles and the decrease in demand for oil have led to declines in crude oil prices. It is observed that the decisions of OPEC members to increase production have also had a negative impact, putting pressure on oil prices. It is deemed appropriate to evaluate positions in the sales direction, based on the intraday resistance levels in crude oil prices.

XAUUSD

Analysis
09 May 2025 08:46

Following Powell's statements at the press conference, it appears that interest rate cuts may not begin, and it is likely that rate cuts will be postponed for some time. However, due to the high probability of a shift to an interest rate reduction policy, it is anticipated that the spot gold price may remain strong. It is considered appropriate to evaluate buying positions near the intraday support levels, as pullbacks are expected to be limited.

GBPUSUD

Analysis
09 May 2025 08:45

It can be stated that there is no net upward potential in the currency pair that has a positive correlation with EURUSD due to the interest rate reduction policy. Considering the continuation of the interest rate reduction policy of the Bank of England, it is expected that pricing will continue for the currency pair expected to decline. In line with Chairman Powell's statements, it is anticipated that pricing will continue according to the state of the US economy, and it seems appropriate to evaluate the specified resistance levels for selling.

EURUDF

Analysis
09 May 2025 08:39

Orta vadeli trendin bozulması ile birlikte satışların gelmesi ile birlikte EURUSD paritesinde EURO Bölgesi faiz indirim sürecine bağlı olarak fiyatlamanın devam etmesi(satış) ön görülmektedir. Başkan Powell’ın basın açıklamalarının ardından trend yönünde fiyatlamanın devam edebileceği öngörülmektedir. Powell’ın "bekle-gör" politikası piyasalara ılımlı bir hava verdiğinden dolayı bir çok üründe olduğu gibi EURUSD Paritesi'nde de yön değişikliği beklenmemektedir. Belirtilen teknik seviyelerde destek seviyelerinin alım yönünde pozisyonlar ile değerlendirilmesi uygun görülmektedir.