EUR/USD 1.16645
-0.073%
Gold 4617.64
-0.879%
Oil 80.069
-0.757%
USD/JPY 159.124
-0.049%
GBP/USD 1.36251
-0.160%
GBP/JPY 216.814
-0.204%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 26 (Xinhua) -- Iranian President Pezechzian said at a meeting in Tehran on the 26th that the new round of US economic sanctions would be fruitless. Pezechzian stated that given the measures already taken by the Iranian government, the USs current economic pressure will not yield any results, just as it has failed to achieve anything in the war.On August 26, Qatari Foreign Ministry spokesman Ansari stated on August 25 that the US sanctions against Iran are unilateral, not UN or multilateral, and that those who decided to impose the sanctions should be questioned. Ansari emphasized that Qatar has always prioritized reaching a diplomatic solution through dialogue, believing it to be the only way out of the regional crisis, and called on all parties to participate in this process in good faith. Ansari also called for international pressure to be applied to Israel to respect the agreed-upon plans. He pointed out that Israels activities in the Gaza Strip and the West Bank, as well as its attacks on Syrian and Lebanese sovereignty, demonstrate that "Israel has no peace partners." Ansari stated that "the ball is now in Israels court," and if Israel wants to be part of the region and demonstrate its seriousness in seeking a diplomatic solution, it needs to abide by the agreements, and so far, there has been no positive progress in this regard.Israel Defense Forces: We have struck a building in Gaza that Hamas was using as an ambush position.German Chancellor Merz: Germanys top credit rating is not expected to change.German Finance Minister: The turmoil seen in the bond market is related to the war with Iran.

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