EUR/USD 1.16572
-0.039%
Gold 4712.85
-0.135%
Oil 91.701
0.504%
USD/JPY 158.664
0.060%
GBP/USD 1.33914
-0.022%
GBP/JPY 212.476
0.049%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 9th, US President Trump stated on social media, "NATO wasnt there when we needed them, and they wont be there if we need them again. Remember Greenland, that poorly managed ice sheet." This followed a meeting between President Trump and NATO Secretary General Rutte, who spent over 90 minutes at the White House. Rutte later stated that he had a very frank and open discussion with President Trump, describing it as a discussion between two good friends, and expressed great admiration for Trumps leadership.April 9th - Singaporean government agencies will implement measures to reduce electricity consumption and enhance energy resilience due to global energy supply shortages caused by the Middle East conflict. The National Environment Agency stated in a statement on Wednesday that immediate measures include setting air conditioning temperatures to 25 degrees Celsius or higher, controlling the operating hours of air conditioners, lighting, and elevators, and unplugging or turning off non-essential equipment when not in use. Singapore had previously warned that fuel prices are expected to remain high for the foreseeable future due to widespread disruptions to Middle Eastern oil and gas production and transportation, leading to higher electricity bills in the coming months.Venezuelan Acting President Rodriguez: The urgent task is to raise workers wages through the development of oil and mining.April 9th - US President Trumps Iran peace plan is facing resistance from a key group: the oil industry. An industry consultant stated that oil company executives are contacting the White House, Secretary of State Rubio, and Vice President Vance to protest allowing Iran to collect tolls on passage through the Strait of Hormuz as a condition for peace negotiations. When asked if the executives had contacted the White House to protest the toll policy, the consultant replied, "Of course! We never needed to do that before—and I think weve already won the war. Whenever you have access to government, you ask, What are you thinking?"1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 2.85% to 47,909.92 points, the S&P 500 rose 2.51% to 6,782.81 points, and the Nasdaq Composite rose 2.8% to 22,635 points. Sherwin-Williams rose nearly 7%, and Caterpillar rose more than 6%, leading the Dow. The Wind U.S. Tech Big Seven Index rose 2.49%, Facebook rose more than 6%, and Google rose nearly 4%. The Nasdaq China Golden Dragon Index rose 3.05%, Pony.ai rose more than 11%, and Hesai Technology rose more than 8%. 2. All three major European stock indexes closed higher. The German DAX rose 5.06% to 24,080.63 points, the French CAC40 rose 4.49% to 8,263.87 points, and the UK FTSE 100 rose 2.51% to 10,608.88 points. 3. Most US Treasury yields fell. The 2-year Treasury yield fell 0.02 basis points to 3.790%, the 3-year Treasury yield fell 0.06 basis points to 3.811%, the 5-year Treasury yield fell 0.18 basis points to 3.924%, the 10-year Treasury yield fell 0.20 basis points to 4.293%, and the 30-year Treasury yield rose 1.42 basis points to 4.886%. 4. The most active US crude oil futures contract closed down 14.56% at $96.5 per barrel; the most active Brent crude oil futures contract fell 11.5% to $96.7 per barrel. 5. International precious metals futures generally closed higher. COMEX gold futures rose 1.29% to $4745.00 per ounce, and COMEX silver futures rose 3.14% to $74.25 per ounce. 6. Most domestic commodity futures markets closed lower, with energy products, chemicals, and shipping futures leading the declines. Low-sulfur fuel oil fell 15.26%, LPG hit the daily limit down, asphalt fell 8.95%, and the container shipping index (European route) fell 7.42%. Precious metals and base metals rose, with Shanghai silver rising 5.63% and Shanghai tin rising 4.05%.

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