EUR/USD 1.13694
-0.063%
Gold 4053.64
0.107%
Oil 88.544
-2.783%
USD/JPY 163.848
-0.004%
GBP/USD 1.33208
0.055%
GBP/JPY 218.264
0.066%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Domestic News: 1. my countrys digital industry revenue exceeded 39 trillion yuan in 2025. 2. VC prices surged over 40% in just over a month, with manufacturers limiting supply. 3. The State Flood Control and Drought Relief Headquarters activated a Level III emergency response for flood and typhoon prevention in Guangdong. 4. Liu Liehong visited Shanghai to investigate the market-oriented allocation reform of data elements. 5. Dalian pioneered interest subsidies for second-home provident fund loans; nearly 90 cities will issue housing subsidies this year. 6. The State Administration for Market Regulation penalized Ctrip Group for monopolistic practices; Ctrip announced 19 rectification measures. International News: 1. The US Starship spacecraft achieved some objectives during its 13th test flight. 2. Russia extended its gasoline export ban until the end of 2026. 3. South Korea reached a $950 billion cooperation agreement with a global tech giant. 4. Middle East Situation—① Iranian official: The Haoshan facility is "currently empty." ② Saudi Arabia confirmed that the multinational coalition is striking the Houthi rebels in Yemen. ③ After 13 consecutive nights of strikes against Iran, the US military has not announced any further airstrikes against Iran. ④ The US and UK plan to hold a meeting on the Strait of Hormuz issue and promote the formation of a Hormuz escort coalition. ⑤ The Houthi rebels claimed to have attacked Saudi Arabia twice in one day, targeting "sensitive targets" of Saudi Aramco in Jizan and Yanbu. ⑥ Qatars Ministry of Transport announced that all types of maritime transport and shipping activities will fully resume from July 26th.Two Brazilian sources say the United States plans to send an envoy to influence Brazil’s October presidential election.Qatars Ministry of Transport: Starting July 26, all types of maritime transport and ship navigation activities will fully resume.Interfax news agency quoted the Russian deputy prime minister as saying that the ban on Russian gasoline exports will be extended until the end of this year, and the ban will be lifted "after the market recovers".The Russian-appointed governor said the death toll from the attack on a holiday camp in the Russian-controlled Zaporizhia region of Ukraine has risen to 11, including four children.

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