EUR/USD 1.15820
0.064%
Gold 4354.26
0.463%
Oil 84.736
0.508%
USD/JPY 159.379
-0.144%
GBP/USD 1.35375
0.046%
GBP/JPY 215.766
-0.089%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 19, the State Council Taiwan Affairs Office held a regular press conference. A reporter asked: According to Taiwanese media reports, relevant parties in Taiwan are calling for the restoration of more direct flights between the two sides of the Taiwan Strait. Is the spokesperson aware of the relevant progress? Spokesperson Zhu Fenglian stated that the efforts of relevant parties and enthusiastic individuals in Taiwan to advocate for the restoration of more direct flights between the two sides fully reflect the shared desire of compatriots on both sides of the Strait to fully restore the normalization of direct air passenger flights. However, it is understood that the Taiwan Civil Aviation Authority rejected the charter flight application on the grounds that it was not within the scope of holiday charter flights. The DPP authorities should face up to the realistic demand for direct air passenger flights between the two sides of the Strait, follow the will of the people, and remove the unreasonable restrictions on cross-strait air transport as soon as possible.On August 19th, the Shanghai Municipal Science and Technology Commission issued the "15th Five-Year Plan for the Development of Shanghai Zhangjiang High-Tech Industrial Development Zone." The plan proposes to improve the science and technology investment and financing system, strengthen the functions of the professional angel investment service platform, and optimize the early-stage investment ecosystem. It also aims to improve venture capital exit channels, vigorously develop private equity secondary market funds (S funds) and M&A funds, support the creation of an equity investment cluster, support qualified high-quality technology companies to list on the Science and Technology Innovation Board (STAR Market), encourage enterprises to utilize the pilot policy of M&A loans to implement supply chain M&A, and make good use of structural monetary policies such as re-lending for technological innovation and technological transformation. Furthermore, it encourages technology companies to issue innovation and entrepreneurship corporate bonds and investment institutions to issue technology innovation bonds. The plan also promotes the construction of a demonstration area for the integration of finance and technology industries, and encourages private capital, foreign capital, and other social capital to participate in park construction and industrial innovation.On August 19th, it was learned that Momenta (06880.HK), in collaboration with Xinxin Navigation and BlackBerrys QNX business unit, will jointly develop a mass-production-ready global safety standard autonomous driving platform. The three companies will respectively provide full-stack autonomous driving algorithm capabilities, the automotive-grade SoC (System-on-a-Chip) X7, and a secure operating system based on QNX® SDP8.0. The mass-production solution aims to help global automakers accelerate the deployment of intelligent driving technologies and meet global functional safety standards.Reserve Bank of Australia Deputy Governor Hauser: The economy will not face a recession, only a slowdown.Reserve Bank of Australia Deputy Governor Hauser: Concerned about inflation, with increased upside risks to inflation.

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