EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 25th - Following the reciprocal visits by the leaders of China and South Korea, bilateral relations have further improved. Coupled with Chinas extension of its visa-free policy for South Koreans, demand for travel to China from South Koreans has surged. According to Yonhap News Agency on the 25th, the South Korean travel industry is intensifying its marketing efforts to seize market opportunities. One South Korean travel agency stated that from January 5th to 21st, the number of people booking travel products to China reached 7,351, a significant increase of 87.8% year-on-year. The report also stated that many South Korean travel agencies are comprehensively adjusting and expanding their travel products, refining their offerings for different age groups and consumer demographics, and launching various targeted travel packages.Russian Deputy Foreign Minister: There has been no progress in dialogue with the United States on issues such as diplomatic property.The China Earthquake Networks Center officially determined that a magnitude 2.4 earthquake occurred at 18:18 on January 25 in Leting County, Tangshan City, Hebei Province (39.28 degrees north latitude, 118.86 degrees east longitude), with a focal depth of 15 kilometers.Kremlin: Trumps actions are inconsistent with Russias policy of building a multipolar world.January 25th - According to South African media reports on the 23rd, the World Economic Forum Africa Summit will resume after a seven-year hiatus and will be held in South Africa in April 2027. Chido Muniati, Head of Africa at the World Economic Forum, stated during the World Economic Forum Annual Meeting 2026 in Davos, Switzerland, that the summit will resume in 2027, with Johannesburg or Cape Town, South Africa, expected to be the host city.

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