EUR/USD 1.17158
-0.202%
Gold 4705.65
-0.201%
Oil 97.354
-1.376%
USD/JPY 157.698
0.056%
GBP/USD 1.35304
-0.067%
GBP/JPY 213.376
-0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 13, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked: It has been reported that Lai Ching-te participated in and spoke at the 2026 Copenhagen Democracy Summit hosted by a Danish NGO via pre-recorded video. What is the Foreign Ministrys comment on this? Guo Jia-kun stated that the so-called "Copenhagen Democracy Summit" is full of ideological bias and deliberately invited "Taiwan independence" elements to make irresponsible remarks, seriously violating the one-China principle. We firmly oppose this. China urges relevant parties to earnestly abide by the one-China principle and not provide a platform for "Taiwan independence" forces.According to Nikkei, Idemitsu Kosan, one of Japans largest oil companies, predicts that the Hormuz crisis will begin to ease in July and oil prices will fall back to pre-crisis levels by early next year.UBS Global Wealth Management expects the Federal Reserve to cut interest rates by 25 basis points in December 2026 and March 2027, respectively, compared to previous forecasts of rate cuts in September and December of this year.On May 13, it was learned from the National Data Administration that the "Data Elements ×" City Tour was launched in Nanjing today. At the national level, the government will support various regions in actively exploring their unique data resources and scenario needs, and cultivate data circulation service institutions to serve local industrial development through new models such as "data-driven investment attraction" and "scenario-based investment attraction".On Wednesday, May 13, the German DAX 30 index opened 196.92 points higher, or 0.82%, at 24,171.59; the UK FTSE 100 index opened 59.42 points higher, or 0.58%, at 10,324.74; and the French CAC 40 index opened 44.78 points higher, or 0.56%, at 8,024.70. (European...) The Stoxx 50 index opened 44.50 points higher, or 0.77%, at 5852.95 on Wednesday, May 13; the Spanish IBEX 35 index opened 113.15 points higher, or 0.64%, at 17686.75 on Wednesday, May 13; and the Italian FTSE MIB index opened 413.52 points higher, or 0.84%, at 49404.50 on Wednesday, May 13.

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