EUR/USD 1.13943
0.074%
Gold 4036.85
0.207%
Oil 80.953
3.349%
USD/JPY 163.532
-0.200%
GBP/USD 1.33035
0.117%
GBP/JPY 217.561
-0.069%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
ECB Governing Council member Patsalides: On the issue of inflation, the passage of time is undoubtedly at our disadvantage.On July 29th, the "Implementation Plan for Artificial Intelligence Empowering the Digital Transformation of Manufacturing in Zhejiang Province (2026-2030)" was issued, proposing to promote data governance and the construction of high-quality datasets. It supports enterprises in registering industrial data assets and industrial data intellectual property rights. It encourages enterprises with a digital transformation level of 2.0 or higher to build unified data management platforms and promote multi-source heterogeneous data modeling, analysis, classification, and hierarchical management. Focusing on key industry scenarios such as integrated circuits, apparel and textiles, consumer electronics, and modern home furnishings, it promotes collaborative data collection, processing, labeling, testing, and application across the industrial chain to build high-quality, reusable industry datasets. It also advances the pilot construction of product master data standards and high-quality industry datasets to accelerate the creation of a trusted industrial data space.On July 29, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress (NPC), met with Slovak President Pellegrini in Beijing. Zhao stated that China is willing to work with Slovakia, guided by the important consensus reached by the two heads of state, to continuously enhance strategic mutual trust, deepen mutually beneficial cooperation in areas such as high-quality Belt and Road Initiative cooperation, trade and economic cooperation, artificial intelligence, and new energy, promote people-to-people exchanges, and jointly advance the high-level development of China-Slovakia relations. The NPC is willing to maintain close and friendly exchanges with the Slovak National Assembly, conduct exchanges of experience in legislation and oversight, and provide legal guarantees for pragmatic cooperation between the two countries.July 29th - The Bank of England is expected to assess its quantitative easing (QT) program at its policy meeting on Thursday. Quantitative easing refers to the process by which the central bank reduces its bond holdings purchased during the quantitative easing period. Ebury analyst Matthew Ryan noted in a report that the Bank of Englands assessment of QT is unlikely to have a significant impact on UK assets, as investors are likely to focus on inflation guidance and the voting outcome of the interest rate decision. Ryan stated that if the vote remains unchanged at 7-2 and subsequent guidance downplays inflation risks, the market may lower its expectations for a Bank of England rate hike.July 29 (Kyodo News) – The Japanese government announced on Wednesday that Japans national population fell below 120 million for the first time in 42 years, dropping to 119,736,483 at the beginning of this year, highlighting the serious challenges the country faces in addressing its declining birth rate. According to data from the Ministry of Internal Affairs and Communications, as of January 1, the number of Japanese citizens decreased by 917,000 from the previous year, the largest drop since comparable data became available in 1968. At the same time, the number of foreign residents increased by 354,000, reaching a record 4,031,159. The Ministry of Internal Affairs and Communications has been compiling these data since 2013. Faced with a labor shortage, Japan is gradually easing restrictions on the introduction of foreign workers. With more and more people coming to Japan in search of employment opportunities, the number of foreign residents has increased for the fourth consecutive year.

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

 EUR:GBP.png

 

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.


Suggestion