EUR/USD 1.14590
0.257%
Gold 4126.40
0.068%
Oil 72.043
0.533%
USD/JPY 161.295
-0.665%
GBP/USD 1.34502
0.314%
GBP/JPY 216.950
-0.351%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A spokesperson for the Government Pension Investment Fund of Japan (GPIF) said they were aware of Finance Minister Satsuki Katayamas remarks but declined to comment.On July 10th, MiniMax founder and CEO Yan Junjie released an internal letter to all employees, responding to recent market fluctuations and emphasizing that the companys long-term direction remains unchanged. In the letter, Yan Junjie announced that, effective immediately, until the company achieves its AGI (Automatic Group Index), he will no longer receive any salary from the company. Over the next four years, he will allocate 4% of his personal shares—equivalent to 4% of the companys total share capital—to incentivize team members who have worked alongside the company and created value together; he will also allocate 1% of his shares to establish a special fund to continuously support the development of related open-source communities.July 10 – Japanese Finance Minister Satsuki Katayama stated at a regular press conference on Friday that Japan hopes to encourage pension funds, including the Government Pension Investment Fund (GPIF), to increase their investments in domestic financial assets. “We want to ensure that the public can directly benefit from Japan’s economic growth,” Katayama told reporters. These remarks pushed the yen to a daily high of 161.63 against the US dollar. She stated, “One of our priorities is encouraging households and pension funds, including the GPIF, to increase their investments in Japanese financial assets. We intend to implement policies that support this goal.” Katayama’s comments indicate that as Japan enters a new growth phase marked by positive interest rates and the Bank of Japan’s gradual policy normalization, the government intends to guide more household and institutional savings towards domestic assets.Newly listed stock N Torrance surged over 1000% in early trading, triggering a temporary trading halt.As of 09:31 Beijing time, WTI crude oil futures rose 0.40%, and US natural gas futures rose 0.17%.

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