EUR/USD 1.15867
-0.011%
Gold 4385.44
-0.057%
Oil 89.089
-0.030%
USD/JPY 158.766
0.038%
GBP/USD 1.34829
-0.018%
GBP/JPY 214.067
0.019%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 3, it was reported that on September 2, local time, Judge Deborah Bodman of the U.S. District Court for the District of Maryland issued a preliminary injunction to block the Trump administration from enforcing a new executive order. This executive order aimed to limit the number of people eligible for birthright citizenship. After returning to the White House in January 2025, Trump signed an executive order stipulating that newborns whose parents are neither U.S. citizens nor lawful permanent residents would not automatically acquire U.S. citizenship. On June 30 of this year, the U.S. Supreme Court overturned this executive order.September 3 – According to US financial media Semafor, Sean Parnell, the chief spokesman for the US Department of Defense, is emerging as a leading candidate to succeed Army Secretary Dan Driscoll, who resigned this week. Multiple Trump administration officials and sources familiar with the matter revealed that Parnell has not yet received a final appointment, but there is considerable support within the government for his succession. Parnell has close ties to Defense Secretary Peter Hegseth and has served as the chief spokesman for the Department of Defense since Trumps second term. Florida Republican Congressman Brian Mast is also on the shortlist; he recently met with Hegseth. Mast has the support of House Armed Services Committee Chairman Mike Rogers, but his public support for the Israeli government could provoke discontent among some of Trumps political base. Meanwhile, if Parnell is nominated, he may face confirmation challenges due to the support of Republican hawks for Driscoll and past allegations of domestic violence against him.According to US financial media Semafor, Florida Republican Congressman Brian Master is also one of the candidates to succeed Driscoll as Secretary of the Army.According to US financial media Semafor, Sean Parnell has emerged as the leading contender for the position of Secretary of the Army.September 3 – Japanese companies are considering selling strategic holdings and other assets to offset the impact of the highest financing costs in a generation. A survey of 30 Japanese non-financial companies shows that they are also considering measures such as increasing overseas borrowing and raising funds in advance. Rising financing costs have begun to affect corporate investment decisions. Companies such as Toyota Motor and Tohoku Electric Power expect their annual interest expenses to increase by more than 30% if they refinance yen-denominated bonds.

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