EUR/USD 1.17449
-0.312%
Gold 4699.33
-0.745%
Oil 98.231
2.902%
USD/JPY 157.636
0.263%
GBP/USD 1.35261
-0.611%
GBP/JPY 213.225
-0.343%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
JD Logistics (02618.HK): Q1 2026 revenue was RMB 60.58 billion, compared to an estimated RMB 58.51 billion.Pop Mart (09992.HK): It expects its overall revenue for the first quarter of 2026 (unaudited) to increase by 75%-80% year-on-year compared to the first quarter of 2025, of which revenue from China will increase by 100%-105% year-on-year.On May 12th, Danske Bank analyst August Hyldgaard stated in a report that Tuesdays U.S. consumer inflation data could solidify the Federal Reserves wait-and-see stance. "If the data exceeds expectations and is coupled with strong labor market data, it will allow the Fed to maintain its current wait-and-see mode."Market pricing indicates that traders have fully priced in three 25-basis-point rate hikes by the Bank of England in 2026.May 12th - At the 2026 APEC Food Safety Cooperation Forum held today, it was learned that in the first four months of this year, Chinas total food import and export trade reached 594.86 billion yuan, a year-on-year increase of 6.5%. Imports totaled 409.22 billion yuan, up 8.8% year-on-year, while exports reached 185.64 billion yuan, up 1.9% year-on-year. In the first four months, my countrys food imports and exports to other APEC economies totaled 350.38 billion yuan. Imports reached 229.83 billion yuan, and exports reached 120.55 billion yuan. Meat, dairy products, and alcoholic beverages accounted for 21.48 billion yuan, 20.11 billion yuan, and 11.83 billion yuan respectively. Wang Jun, Deputy Director of the General Administration of Customs, explained that the Asia-Pacific region is vast, and the resource endowments, development stages, and governance models of APEC economies are not entirely the same. China Customs is willing to further deepen cooperation with all economies, embrace the digital revolution and regulatory innovation, and promote trade facilitation through technological empowerment and digital efficiency enhancement; deepen the alignment of rules and mutual recognition of standards to build an open and transparent regional food trade system; and strengthen capacity building and collaborative governance to solidify the foundation for food safety and trade facilitation.

GBP/USD fell to levels not seen in two years due to recession fears and pre-NFP instability

Alina Haynes

Sep 02, 2022 14:44

 截屏2022-09-02 上午10.05.09.png

 

The U.S. labor market report for August is the most crucial report of the month. After hitting a two-year low the day before, the British pound stabilized in the 1.1540-1.1550 region throughout Friday's Asian session. Despite impending recessionary fears in the UK, the Cable pair typifies the typical pre-NFP fluctuations.

 

As Bloomberg reports, "the United Kingdom is already in a recession, and inflation is likely to reach 14% later this year," citing BCC data. Unless the next prime minister takes "urgent" action to decrease skyrocketing energy bills, a coalition of groups called "End Fuel Poverty" has warned that the number of UK families in fuel poverty would more than double in January, to at least 12 million.

 

British Foreign Minister and potential future Prime Minister Liz Truss recently stated in a late Wednesday Sun article that she will provide "immediate support" to ensure that households do not incur excessive heating costs this winter.

 

In addition to high US Treasury yields, improved US data and hawkish Fed predictions acted as a drag on the GBP/USD exchange market.

 

President of the Atlanta Fed, Raphael Bostic, meanwhile, has said that the Fed still has a "long way" to go before inflation reaches 2%. As other conservative US central bankers have said, "Restoring price stability is our top aim," so has Lory Logan, the recently appointed president of the Dallas Fed.

 

The statistics for August showed that the US ISM Manufacturing PMI came in at 52.8, beating market expectations of 52.0. As a plus, the final S&P Manufacturing PMI index for August was 51.5, up from 52.2 in July and above the consensus estimate of 51. Similarly, the number of initial claims for unemployment insurance in the United States fell to 232k from 248k in the prior week and 237k the week before that. In addition, during the second quarter (Q2), Unit Labor Cost climbed by 10.2% QoQ, which was somewhat higher than the predicted growth of 10.7%; nevertheless, Labor Productivity fell by 4.1% QoQ, which was lower than the expected decline of 4.5% and the decrease of -4.7% in the first quarter.

 

Despite a mixed day on Wall Street, 10-year US Treasury rates rose to their highest levels since late June. And most significantly, the two-year equivalent hit a 15-year high. The CME's FedWatch Tool now predicts a 72% chance of a rate hike of 75 basis points in September, up from about 69% previously.

 

On the other hand, the Bank of England's (BOE) Decision Maker Panel survey of CFOs showed on Thursday that British companies' expectations for CPI inflation rose in August. Also, as reported by Reuters, a monthly survey by Citi and YouGov revealed on Wednesday that British people' expectations for average inflation over the next five to ten years skyrocketed to a record-high 4.8% in August, well over the Bank of England's inflation aim of 2%.

 

Expectations for August's Nonfarm Payrolls (NFP) and Unemployment Rate reports have dropped from 528K and 3.5%, respectively, to 300K and 3.5%, which is likely to cause worry in the markets. If the jobs report shows improved numbers, the possibility of future US dollar strength cannot be ruled out.

Suggestion