EUR/USD 1.16452
0.075%
Gold 4185.06
-0.133%
Oil 58.500
-0.266%
USD/JPY 155.961
0.026%
GBP/USD 1.33281
0.053%
GBP/JPY 207.872
0.085%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The National Bank of Kazakhstan reported that Kazakhstans gold and foreign exchange reserves totaled $59.983 billion in November, a 3.4% increase month-on-month.On December 9th, Reserve Bank of Australia (RBA) Governor Bullock emphasized at a press conference that inflation risks are skewed to the upside, noting that inflation and employment data will be crucial for the February meeting. Regarding this meeting, Bullock stated that the possibility of a rate hike or a rate cut has not been explicitly considered, but the possibility of tightening policy has been discussed. However, Bullock said that if inflation remains persistently high, the RBA may need to consider raising interest rates. Regarding future interest rate trends, Bullock expressed a data-driven approach, making decisions at each meeting. Bullock said, "We will not make predictions about the timeline for future actions; we will decide at each meeting."Reserve Bank of Australia Governor Bullock: The committee will take all necessary measures to reduce inflation.Reserve Bank of Australia Governor Bullock: Its inappropriate to react based on a single data point. The committees focus is now more on inflation, and they are wary that if inflation remains high, they may have to take measures.Reserve Bank of Australia Governor Bullock: This is a difficult situation. Our current position is broadly balanced, perhaps somewhat tightening, with financial conditions possibly neutral or slightly tight, and we must be very cautious.

Despite the Bank of England's less hawkish forecasts, GBP/USD is expected to rise beyond 1.2170

Daniel Rogers

Aug 04, 2022 11:52

截屏2022-08-04 上午11.47.01.png 

 

The GBP/USD pair has showed a modest retreat after failing to reclaim the 1.2170 resistance level. As the US dollar index (DXY) is projected to extend losses below 106.30, the upside stays favored. After a good fall to the round-number support around 1.2100, the asset has resumed its general uptrend.

 

As investors await the Bank of England's monetary policy decision, the cable might exhibit some volatility in the near future (BOE). In consideration of market expectations, BOE Governor Andrew Bailey will raise interest rates to 1.75 percent as a second successive 50 basis point (bps) increase is anticipated.

 

No one could dispute the reality that households in the United Kingdom are suffering tremendous pricing pressures. The inflation rate has risen to 9.4 percent, and there have been no indicators of a peak as of yet. The rate of inflation might reach double digits if the rate of price growth continues to accelerate, and families will be forced to pay more for identical quantities.

 

Well, a 50 basis point rate boost is insufficient to battle the inflation monster. However, dismal growth estimates and a decrease in the Labor Cost Index prevent the BOE from sounding excessively hawkish.

 

On the dollar front, the US dollar index (DXY) is experiencing uncertain movement as the visit to Taiwan by US House Speaker Nancy Pelosi has exacerbated protracted Sino-US tensions. The United States has held the global leadership position for a considerable amount of time, and China is keen to take over. Therefore, the United States' backing for Taiwan, a country with enormous technical potential, has exacerbated tensions between the United States and China.


Suggestion