EUR/USD 1.17776
-0.060%
Gold 5166.71
-1.179%
Oil 66.227
-0.003%
USD/JPY 155.036
0.241%
GBP/USD 1.34821
-0.062%
GBP/JPY 209.025
0.186%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
As of 09:30 Beijing time, WTI crude oil futures fell 0.15%, while US natural gas futures rose 0.21%.The main contract for the container shipping index (European route) has extended its intraday gains to 9.00%, currently trading at 1347.3 points.The Peoples Bank of China (PBOC) announced today that it conducted 526 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 526 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.On February 24th, the Shanghai silver futures main contract led the market gains in the morning session, while gold, platinum, and palladium also saw significant increases. Hongyuan Futures analysis pointed out that some positive US economic and employment data, coupled with concerns from some Federal Reserve officials about a rebound in inflation, pushed back the expected timing of a Fed rate cut to July. The US continued to threaten military action against Iran to force it to compromise in nuclear negotiations, while peace talks between the US, Ukraine, and Russia made some progress and began to touch on territorial issues, leading to fluctuating geopolitical risks and triggering safe-haven demand. The US Supreme Court ruled some of the Trump administrations tariff measures illegal, but the Trump administration subsequently introduced new tariff measures based on other legal provisions, raising concerns about uncertainty in US foreign trade policy. The prospect of Fed Chair-designate Kevin Warsh cutting rates but struggling to reduce the balance sheet, along with Treasury Secretary Bessants statement that the Fed may not quickly reduce its balance sheet, and the continued gold purchases by many central banks, may support precious metal prices in the medium to long term.February 24th - According to the itinerary for his visit to China published on the website of the German Chancellors Office, during his visit to Beijing, he will also visit the Forbidden City and the German automaker Mercedes-Benz. Afterwards, Merz will travel to Hangzhou to visit the Chinese robotics company Unitree Robotics and the German company Siemens Energy.

Near 0.8670, the EUR/GBP shows a careless drop; attention is on UK employment

Alina Haynes

Sep 13, 2022 11:02

截屏2022-09-13 上午9.46.47.png 

 

The EUR/GBP pair displayed a minor pullback on Monday after hitting a four-day low of about 0.8650. After finishing the retreat, it is projected that the cross will start moving downward and that it will quicken its slide after losing the crucial support level of 0.8650. According to incoming job data from the United Kingdom, the asset will probably change.

 

Forecasts indicate that the unemployment rate in the UK will remain at 3.8%. The unemployment rate won't change even if the number of people collecting unemployment benefits will drop by 9.2k. Due to higher payouts in an inflationary environment, the Average Earnings data is the catalyst that families should take into account. The labor cost index would significantly rise from 4.7% to 5%, helping households offset the higher payments brought on by soaring inflation.

 

Additionally, Wednesday's UK inflation figures will be crucial. It is projected that the UK's Consumer Price Index (CPI) will stay over 10% at 10.2%. The Bank of England (BOE) will be forced to raise interest rates as a result. The difference in policy between the Bank of England and the European Central Bank could be made worse by this.

 

The bulls of the single currency must contend with rising energy prices. The quantity of energy needed to run heaters and other heat-generating devices will rise over the upcoming winter season in Europe. As a result, the need for energy will rise even further. The ECB unexpectedly raised interest rates by 75 basis points (bps) last week; this week, it will announce more rate rises as long as price pressures exceed the planned rate.

 

Due to rising energy prices, the corporate sector in the eurozone is going through a period of declining profitability. Major corporations' input costs have increased as a result of rising energy prices, reducing their operating margins and forcing some businesses into bankruptcy. Their financial performance is significantly impacted by rising energy prices and interest rates.

Suggestion