EUR/USD 1.16054
-0.100%
Gold 4508.22
-0.767%
Oil 95.267
-1.973%
USD/JPY 159.162
0.116%
GBP/USD 1.34395
0.066%
GBP/JPY 213.893
0.184%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Federal Reserve Statement: The Federal Open Market Committee (FOMC) unanimously elected Kevin Warsh as Chairman of the FOMC.On May 23, U.S. Director of National Intelligence Tulcie Gabbard announced on social media on May 22 that she had submitted her resignation to President Trump that day to care for her husband, who is battling cancer. U.S. media reports indicate that Gabbard was effectively "forced out" by the White House. In her resignation letter, Gabbard stated that her husband had recently been diagnosed with "an extremely rare form of bone cancer," and her resignation would take effect on June 30. Trump announced on social media that day that Deputy Director of National Intelligence Aaron Lucas would serve as acting Director of National Intelligence. According to multiple U.S. media reports, Gabbard had been marginalized within the White Houses national security decision-making system, and in recent months, Trump had expressed considerable dissatisfaction with her and considered replacements. Gabbard has long opposed U.S. government military intervention abroad and disagreed with Trump on the Iranian nuclear issue. After the U.S. and Israel launched a large-scale military operation against Iran in late February, she testified before Congress that Iran had not attempted to rebuild its nuclear program and refused to confirm that Iran posed an imminent threat as the U.S. claimed.According to the Wall Street Journal, sources say the United States has suspended visa issuance to people who have visited Ebola-affected areas. This policy applies to individuals planning to travel to the United States within 21 days in South Sudan, the Democratic Republic of Congo, or Uganda.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending May 19, speculators reduced their net short positions in CBOT U.S. 2-year Treasury futures by 41,775 contracts to 1,560,837 contracts; increased their net short positions in CBOT U.S. 10-year Treasury futures by 66,885 contracts to 848,052 contracts; increased their net short positions in CBOT U.S. ultra-long-term Treasury futures by 15,470 contracts to 254,464 contracts; and reduced their net short positions in CBOT U.S. 5-year Treasury futures by 11,629 contracts to 1,350,516 contracts.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending May 19, crude oil speculators increased their net long positions in WTI crude oil by 15,017 contracts, reaching 110,348 contracts.

Focus shifts to UK Inflation as EUR/GBP nears a 16-month high of 0.8720

Daniel Rogers

Sep 09, 2022 17:37

 截屏2022-09-09 上午11.13.25.png

 

If the EUR/GBP pair is able to surpass Thursday's high of 0.8712, it will attempt to extend its two-day winning streak. The asset is finally seeking to recapture a 16-month high at 0.8720 as a result of the European Central Bank's (ECB) historic rate hike. After a brief break around 0.8600, the cross has been climbing gradually for the past two weeks on a larger scale.

 

Christine Lagarde, president of the European Central Bank, prioritized taming the hot inflation over growth prospects by announcing a significant 75-basis-point rate increase (bps). There will likely be more rises once the interest rate was raised to 1.25 percent. The central bank won't keep raising key interest rates in the future and will instead continue to emphasize data more.

 

Inflation forecasts have also been made public by the central bank, and they estimate that it will average 8.1% in 2022, 5.5% in 2023, and 2.3% in 2024. The European Central Bank (ECB) attributed the escalating pricing pressures to supply chain restrictions, increasing energy and food prices, and other factors.

 

Inflation in the United Kingdom is double digits, and long-term growth prospects are bleak. In an effort to boost consumer confidence, Liz Truss, the country's next prime minister, has proposed a cap on energy prices to shield homeowners from the approaching winter. The demand for energy rises throughout the winter due to an increase in the use of electric heaters and appliances.

 

According to the new cabinet's energy bill cap, the average home will pay no more than £2,500 in annual energy costs.

 

The UK inflation rate will continue to be a focus in the future. The Consumer Price Index (CPI) previously hit 10.1%. Since energy prices in August have remained hopeful, it is expected that the economic statistics will pick up speed.


Suggestion