EUR/USD 1.13694
-0.063%
Gold 4053.64
0.107%
Oil 88.544
-2.783%
USD/JPY 163.848
-0.004%
GBP/USD 1.33208
0.055%
GBP/JPY 218.264
0.066%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 25th, Dalian City introduced a new policy of temporary interest subsidies for housing provident fund loans. For second-home housing provident fund loans approved between July 24, 2026, and December 31, 2027, a subsidy of up to 15% of the actual interest will be provided for a maximum period of three years, specifically to reduce the repayment pressure on those seeking to upgrade their homes. Nationwide, nearly 90 cities have successively introduced various housing subsidies and loan burden reduction measures this year, continuously enriching the toolbox of local policies to stabilize the housing market. However, Dalians approach of providing financial subsidies for second-home housing provident fund loans is a relatively rare exploration in recent times.Russian Ministry of Defense: Russian air defense systems shot down 328 Ukrainian drones overnight.On July 25th, Nvidia (NVDA.O) CEO Jensen Huang made his first appearance on Elon Musks social media platform X. His first tweet was a letter co-signed by Nvidia, emphasizing the importance of open-source AI models. Musk retweeted the post, saying, "Huang is right, I fully support him."Kuwait Petroleum CEO: We welcome Blackstone, Brookfield and KKR as long-term investors in the Peregrine Project.Samsung Electronics and Broadcom have signed a memorandum of understanding covering collaboration in memory chips, foundry services, and advanced packaging up to $200 billion by 2030. Samsung Electronics will partner with Broadcom to develop Broadcoms next-generation AI accelerator based on Samsungs HBM technology. Samsung Electronics will provide sub-2nm foundry processes and advanced packaging solutions.

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