EUR/USD 1.15989
0.089%
Gold 4340.20
0.723%
Oil 77.616
-2.786%
USD/JPY 160.318
-0.017%
GBP/USD 1.34172
0.037%
GBP/JPY 215.107
0.028%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Google has received an order from the Indian government to remove the Telegram app from its Play Store due to concerns about medical exam fraud.Qualcomm (QCOM.O) rose 3.3% in pre-market trading after reports that the company is in talks to acquire Tenstorrent.UBS: We expect the Federal Reserve to cut interest rates by 25 basis points each in March and June 2027, compared with our previous forecast of 25 basis point cuts in December 2026 and March 2027.On June 16, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Alan Greenspan, candidate for the next UN Secretary-General, Secretary-General of the United Nations Conference on Trade and Development, and former Vice President of Costa Rica, in Beijing. Wang Yi stated that for 55 years since the Peoples Republic of China regained its legitimate seat in the United Nations, we have always been a supporter and builder of the UN cause. Last month, when China assumed the rotating presidency of the Security Council, I chaired a high-level meeting of the Security Council in New York, where all parties voiced a unified commitment to promoting multilateralism, upholding the UN Charter, and restoring the authority of the UN. The UN Secretary-General bears significant responsibility and international influence, and should adhere to the Charter, possess outstanding capabilities, be fair and upright, and fulfill his duties responsibly. As a responsible major power and a permanent member of the Security Council, China will participate in the election of the next Secretary-General with a constructive attitude, working with all parties to safeguard, revitalize, and strengthen the United Nations.On Tuesday, June 16, the Hang Seng Index closed down 348.72 points, or 1.4%, at 24,493.95; the Hang Seng Tech Index closed down 106.93 points, or 2.24%, at 4,658.65; the H-share Index closed down 135.69 points, or 1.62%, at 8,240.05; and the Red Chip Index closed down 70.78 points, or 1.64%, at 4,250.15.

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