EUR/USD 1.16401
-0.015%
Gold 3359.74
-1.144%
Oil 62.996
0.108%
USD/JPY 147.625
-0.083%
GBP/USD 1.34547
0.038%
GBP/JPY 198.631
-0.046%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Polish Prime Minister Tusk: There are many concerns and also many hopes about the meeting between Trump and Putin.On August 11th, Spanish Foreign Minister Álvarez stated that the EU cannot maintain "normal relations" with Israel in the face of Israels new round of military operations in Gaza. He stressed that statements alone cannot stop the war and that concrete measures must be taken: "We already have a sanctions list, which will be gradually expanded to target those who undermine the two-state solution." Álvarez called for a complete suspension of the EU-Israel Association Agreement and a comprehensive arms embargo on Israel. He noted that Spain has already stopped exporting weapons to the war zone in accordance with regulations and that the EU should also take concerted action.On August 11, ING analyst Francesco Pesole said in a report that Fridays summit between US President Trump and Russian President Vladimir Putin regarding the Russia-Ukraine conflict could have an impact on the euro. "If a ceasefire is achieved in the coming weeks, the euro is likely to perform well, primarily against the US dollar, yen, and Swiss franc." Hopes for a truce between Russia and Ukraine have led to a decline in crude oil prices since early August. However, he said that considerable uncertainty surrounding the outcome of the negotiations and the recent reduction in G-10 currencies sensitivity to the Ukrainian conflict are likely to limit any impact on the euro.Italys trade balance with the EU was -0.69 billion euros in June, compared with 7.76 billion euros in the previous month.Italys trade balance in June was 5.409 billion euros, compared with 6.163 billion euros in the previous month.

GBP/USD expects potential gains above 1.2250 in advance of UK inflation data

Daniel Rogers

Jan 16, 2023 10:55

 GBP:USD.png

 

The GBP/USD pair is struggling to extend advances above the immediate resistance level of 1.2250 in the early Asian session. The Cable had selling pressure while repeatedly overcoming the aforementioned resistance level, but it is currently likely to extend the uptrend due to a significant increase in market participants' risk appetite.

 

A four-day winning streak in the S&P 500 suggests a relatively bullish market sentiment. Investors pour capital into perceived-risk assets while dumping perceived-safety assets. Surprisingly, rates on 10-year US Treasury securities rose to 3.50 percent. The US Dollar Index (DXY) was able to minimize its drop at around 101.76.

 

This week, the Pound Sterling will be affected by the United Kingdom's announcement of inflation data on Wednesday. The headline Consumer Price Index (CPI) (Dec) is anticipated to decline to 10.6% from 10.7% before. While the figures for the core price index, which includes oil and gas prices, may rise from 6.3% to 6.6% over the same time period.

 

It indicates that UK inflation has become more enduring, and the Bank of England (BOE) will be required to continue raising interest rates. Catherine Mann, a member of the BOE, remarked that the central bank need not be concerned about the possibility of overtightening during its interest rate-raising cycle.

 

Investors anticipate the publication of Producer Price Index (PPI) data in the United States. The market expects headline factory gate prices of goods and services to decrease from 7.4% to 6.8% in December. Additionally, the core PPI may fall to 5.9% from 6.2% in a comparable era.


Suggestion