EUR/USD 1.16141
-0.097%
Gold 4434.77
-0.854%
Oil 89.430
-0.234%
USD/JPY 156.234
0.280%
GBP/USD 1.35183
-0.046%
GBP/JPY 211.206
0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 6th - According to a CNBC report, data released by the U.S. Bureau of Labor Statistics on Friday showed that of the 162,000 jobs added that month, women accounted for 158,000, or 98%. Men accounted for the remaining 4,000 net job gains, meaning they contributed almost 40 times less to overall job growth. The nonprofit Economic Security Project first pointed out this anomaly in Fridays data. Laura Ullrich, director of economic research at Indeed Recruiting Lab, said that with the release of Fridays nonfarm payroll report, the gap between women and men in employment has climbed to unprecedented levels. "We are in the midst of a transformation," Ullrich said. "This change is happening right before our eyes."September 6th - According to the Ministry of Water Resources, this morning (September 6th), the Ministry held a rolling consultation meeting to analyze and assess the national rainfall and flood situation and to arrange and deploy key defense work. As of 11:00 AM on September 6th, 10 rivers in Zhejiang, Jiangxi, Heilongjiang, and other areas remained above warning levels, with the largest exceeding the warning level by 1.04 meters. The peak of the first flood of the Ganjiang River in Jiangxi has passed the Zhangshu section, and it is expected that the entire main stream of the Ganjiang River will recede below the warning level within the next 24 hours.September 6th - Earlier today, the Iranian Revolutionary Guard Corps (IRGC) announced the release of previously undisclosed surveillance footage and videos of actions against vessels violating regulations. The IRGC stated that its navy took decisive action and implemented effective control in the Strait of Hormuz; any suspicious activity will be targeted. The IRGC asserted that the United States is the greatest threat to the security and maritime trade of countries in the region; any claims of US support and escort are pure lies.Israel Defense Forces: Hezbollah fired two drones at Israeli soldiers, who shot down one of them. No Israeli casualties were reported.The Israeli military stated that Hezbollah had previously launched drone attacks on soldiers within Israels "safe zone," prompting Israel to launch attacks in southern Lebanon.

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