EUR/USD 1.16783
0.003%
Gold 4616.86
2.163%
Oil 86.290
0.427%
USD/JPY 158.995
-0.035%
GBP/USD 1.36466
0.123%
GBP/JPY 216.979
0.098%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 23, according to Iranian sources on August 22, Iranian Defense Ministry spokesman Reza Tarai-nik stated in an interview that Irans overall weapons and defense equipment production has doubled over the past year. Production of some strategic equipment prioritized for wartime deployment has even more than tripled. To maintain military secrecy, some equipment systems have not yet been publicly displayed. He also stated that if the enemy makes another foolish mistake, it will face an even greater defeat.August 23 - Following the 5.8 magnitude earthquake that struck Honshu, Japan, numerous injuries have been reported. As of 4:00 AM local time, nine people were injured in Saitama Prefecture, and as of 5:00 AM local time, three people were injured in Kanagawa Prefecture. Additionally, some people in Tokyo sustained cuts from broken glass. According to the Tokyo Fire Department, approximately 30 earthquake-related calls had been received as of 3:00 AM local time on the 23rd.On August 23, according to the New York Times, U.S. Trade Representative Greer revealed previously undisclosed trade proposals to Canada on Saturday, stating that these measures would grant Canada the most favorable treatment among all its trading partners. Greer stated that the Trump administration had promised to eliminate the 10% softwood lumber tariff imposed last year under Section 232, and also proposed reducing the 25% auto tariff imposed by Trump last year. Furthermore, because Canada could receive further tax reductions if its vehicles contain any U.S. parts, the auto tariff could have been reduced to 7%. The U.S. also proposed reducing metal tariffs, one of Canadas top concerns. The U.S. proposed reducing tariffs on most Canadian steel exports to the U.S. from 50% to 25% under the so-called tariff quota system, and for aluminum, the U.S. would reduce tariffs from 50% to 25%, without quota restrictions. For downstream products using steel and aluminum as raw materials, the U.S. proposed reducing tariffs by 10 to 25 percentage points, with a minimum of 15%. He also stated that the Trump administration had originally planned to suspend the 50% tariffs imposed on Canadian dairy products, wine, hockey sticks, and other goods that would begin early Saturday morning, while also cooperating on other issues such as key minerals and cargo transshipment. Greer refuted Canadian Prime Minister Carneys claim that "the U.S. is asking for too much and giving too little," stating that the U.S. proposal would "continue to provide them with the best market access and further improve those conditions."U.S. Trade Representative Greer: The United States could have postponed the 50% tariffs imposed on Canadian dairy products and wine.U.S. Trade Representative Greer: The U.S. has proposed lowering tariffs on most Canadian steel products to 25% and reducing tariffs on aluminum products from 50% to 25%.

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