EUR/USD 1.14268
0.092%
Gold 4075.79
-0.039%
Oil 74.046
-0.631%
USD/JPY 162.379
-0.131%
GBP/USD 1.34000
0.084%
GBP/JPY 217.593
-0.040%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Artificial Intelligence: 1. OpenAI releases GPT-Live speech model. 2. OpenAI releases national security principles document. 3. Zhipu: Plans to raise over HK$31.4 billion through a share placement at a discount of approximately 13%. 4. Ministry of Industry and Information Technology issues risk warning: Claude Code contains a security backdoor that may leak sensitive user information. 5. US government approves OpenAIs public release of its GPT-5.6 Sol, Terra, and Luna models on Thursday. 6. SpaceX AI and Cursor release Grok AI model, named Grok 4.5, for legal and financial scenarios. 7. Meta announces plans to build a C$13 billion data center in Alberta, Canada. 8. AI chip startup Positron is in talks for approximately $750 million in funding, with a potential valuation of up to $5 billion. Integrated Circuits (Chips): 1. US media: Zhipu is evaluating the possibility of developing its own custom chips amid surging demand for its GLM series AI models. 2. Reports indicate that TSMC is significantly expanding its PIC production capacity, expected to reach 25,000 wafers per month by 2028. 3. Apple and Broadcom have reached a multi-year cooperation agreement worth over $30 billion. 4. SK Hynixs US IPO was reportedly oversubscribed by more than seven times. Other: 1. China Passenger Car Association: June retail sales of passenger cars reached 1.602 million units, a year-on-year decrease of 23.2%. 2. Teslas robotaxi plan is attempting a new rapid expansion strategy. 3. Blue Origin raised $10 billion at a valuation of $130 billion. Venezuelan interim president Rodriguez has sent a letter to the UK requesting the lifting of the freeze on Venezuelan gold holdings at the Bank of England.Colombias National Hydrocarbons Agency (ANH) reported that Colombias commercial natural gas production fell 10.4% year-on-year in May to 717 million cubic feet per day.July 9th - Nvidia (NVDA.O) stock has significantly underperformed the overall chip industry this year. Bank of America believes this presents a "more attractive buying opportunity" rather than a risk warning. Analyst Vivek Arya acknowledges some factors that are causing investor concern, but believes the market is overreacting. Rising HBM component costs have raised concerns about gross margins, but Arya argues that investors are overestimating this pressure while underestimating Nvidias pricing power, economies of scale, and approximately $119 billion in supply chain commitments. He expects Nvidia to offset the impact of higher HBM costs, as the pricing of the next-generation Rubin platform is likely to be significantly higher than the current Blackwell product line, thus keeping gross margins in the mid-70% range. The second biggest investor concern comes from competition in custom chips, such as the TPU co-designed by Google and Broadcom. Arya believes this concern is also exaggerated. Googles TPU has been around for over a decade, while Nvidias GPU revenue has grown 700 times during that time. In the long term, Nvidia will still account for 65% to 70% of AI infrastructure spending by hyperscale cloud providers. Furthermore, Nvidias current forward P/E ratio is approximately 18.69, which is close to half of the average level over the past 10 years and near an 11-year low.Japans broad money supply liquidity rate was 4.5% year-on-year in June, down from 4.7% in the previous month.

After recovering from 0.8600 prior to ECB Lagarde's speech, the EUR/GBP pair continues to advance

Daniel Rogers

Dec 08, 2022 15:31

 EUR:GBP.png

 

The EUR/GBP pair has strengthened its rebound to roughly 0.8615 during the Asian session. As investors moved their focus to Christine Lagarde's speech for the European Central Bank, the cross rebounded well after touching Wednesday's low at 0.8600. (ECB).

 

The ECB President's comments will provide fresh impetus for the anticipated monetary policy adjustments at the December monetary policy meeting. Despite the fact that ECB policymakers believe the central bank has imposed a significant deal of pressure on interest rates and that a neutral rate is close at hand, a December rate hike is more likely due to Eurozone inflationary pressures.

 

The median consumer inflation forecast for the next 12 months jumped from 5.0% to 5.4%, according to a survey conducted by the ECB. Inflation forecasts for the next three years remain unchanged at 3%. Therefore, markets should anticipate a hawkish statement on interest rate policy from the ECB president.

 

The monthly Retail Sales statistics declined by 1.8% this week, although analysts had projected a 1.7% decline. In addition, annual Retail Sales declined by 2.7% versus the consensus projection of a 2.6% decline. In the absence of other variables, a decline in consumer spending indicates that inflation will soon decelerate.

 

The escalating food supply problem in the United Kingdom is driving already high food inflation, resulting in an increase in inflationary expectations. Rising input costs and labor constraints are producing a food supply shortage, which is anticipated to increase food inflation from its current 12.4% level. This might exacerbate the decline in the British economy and have repercussions for the pound.


Suggestion