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US President Trump: An agreement has been reached, and beef prices have been significantly reduced.On August 21, Bank of America strategist Hartnett stated that if the U.S. Treasurys plan to control long-term Treasury yields fails, the dollar will come under pressure, triggering short bets on risk assets ahead of the November midterm elections. Hartnett said that if Treasury Secretary Bessant fails to lower the 30-year yield below 5%, he expects the dollar to fall in the coming weeks, increasing short bets on risk assets such as AI mega-corporations and private lending. Financial stocks will also face short-selling risks. Hartnett wrote, "The policy panic to fix the fixed-income market should limit, but not lower, Treasury yields."On August 21, the Hong Kong Securities and Futures Commission (SFC) Chief Executive Officer, Ms. Leung Fung-yee, and other senior staff met with a delegation led by Hasan Fawzi, CEO of the Capital Markets, Financial Derivatives and Carbon Trading Regulation of the Indonesian Financial Services Authority, and Jeffrey Hendrik, Chairman of the Indonesian Stock Exchange, on August 19, 2026. The visit aimed to enhance mutual understanding, exchange views on regulatory reforms to maintain market stability, and explore potential areas of cooperation. On the same day, the SFC and the delegation held a technical exchange meeting to share Hong Kongs policies on enhancing market transparency and investor confidence.August 21 - According to data from online platforms, as of now, the box office revenue (including pre-sales) for the 2026 summer movie season has exceeded 11 billion yuan.Fitch affirmed SoftBanks rating at "BBB+" with a stable outlook.

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

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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.


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