EUR/USD 1.14258
-0.018%
Gold 4192.07
0.018%
Oil 73.976
0.100%
USD/JPY 161.560
-0.010%
GBP/USD 1.32475
-0.008%
GBP/JPY 214.034
-0.008%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 0.29% to 51,712.71 points, the S&P 500 fell 0.37% to 7,472.79 points, and the Nasdaq Composite fell 1.32% to 26,166.6 points. Caterpillar rose more than 3%, and Amgen rose more than 2%, leading the Dow. The Wind U.S. Tech Big Seven Index fell 2.33%, with Google falling more than 5% and Amazon falling more than 4%. SpaceX fell more than 16%, wiping out $400 billion in market value and falling below its first-day closing price. 2. European stock indexes closed mixed. The German DAX rose 0.62% to 25,139.69 points; the French CAC40 fell 0.25% to 8,400.11 points; and the UK FTSE 100 rose 0.72% to 10,437.85 points. 3. US Treasury yields rose across the board. The 2-year Treasury yield rose 5.31 basis points to 4.226%, the 3-year Treasury yield rose 5.36 basis points to 4.246%, the 5-year Treasury yield rose 5.86 basis points to 4.287%, the 10-year Treasury yield rose 5.55 basis points to 4.509%, and the 30-year Treasury yield rose 4.97 basis points to 4.948%. 4. The most active US crude oil futures contract closed down 3.21% at $74.08 per barrel; the most active Brent crude oil futures contract fell 2.8% to $77.81 per barrel. 5. International precious metals futures generally closed higher. COMEX gold futures rose 0.88% to $4209.70 per ounce, and COMEX silver futures rose 0.42% to $65.19 per ounce. 6. Most London base metals rose, with LME zinc up 1.28% to $3,602.0/ton, LME nickel up 0.74% to $17,710.0/ton, LME copper up 0.56% to $13,671.0/ton, LME lead up 0.56% to $1,965.0/ton, LME tin down 0.11% to $53,235.0/ton, and LME aluminum down 1.07% to $3,360.0/ton.UK grid operator: Ample power supply expected this winter.June 23 - Asian stocks are poised for a higher open as market optimism about progress in US-Iran peace talks boosts oil prices, offsetting weakness in Wall Street stocks after declines in several tech giants dragged down benchmark indices. Stock index futures suggest gains in Sydney, Hong Kong, and Tokyo markets. SpaceX shares plunged 16% on Monday after announcing a large-scale investment-grade bond issuance. Market expectations of a US-Iran agreement, coupled with a recovery in AI trade and robust corporate earnings, have propelled the S&P 500 nearly 20% from its war-induced lows. UBSs Chief Investment Office stated that while geopolitical developments may remain a major source of market volatility in the short term, shifts in investor confidence regarding the sustainability of the AI rally could also cause market fluctuations.Air raid sirens have been issued in Kyiv, Ukraine, and the government is urging residents to seek refuge.June 23 – According to CNN, citing a source familiar with the matter, a large-scale layoff initiated by Bill Pulte, acting Director of National Intelligence appointed by US President Trump, began on Monday. The source stated, "The purge of the deep state has begun," but declined to specify the number of positions to be cut. Previously, sources indicated that Pulte was considering cutting hundreds of positions in the Office of the Director of National Intelligence (ODNI). The source said that Pulte arrived at his post the day before his official start date last week and requested a complete list of all office staff, a move that even caught outgoing Director of National Intelligence Gabbard off guard. Another source indicated that the National Counterterrorism Center and the National Counterintelligence and Security Center are expected to be the primary targets of the layoffs.

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