EUR/USD
1.18255
0.108%
Gold
3664.34
0.122%
Oil
63.914
0.484%
USD/JPY
147.338
0.243%
GBP/USD
1.36219
-0.012%
GBP/JPY
200.706
0.242%
Real-time News
On September 18th, Nvidia announced a $5 billion investment in Intel, with the two companies collaborating on the development of customized data center and personal computing products. Shares of European semiconductor companies rose across the board. Dutch chipmaking equipment supplier ASML and its smaller rival ASML International saw their shares rise nearly 8%. Dutch semiconductor packaging equipment supplier Beers Semiconductor Industries saw its share price rise 5.4%. German chipmaker Infineon Technologies saw its share price rise 4.1%. STMicroelectronics, which supplies Elon Musks Tesla and Apple, saw its share price rise 5.2%.On September 18th, Suren Thiru, an economist at the Institute of Chartered Accountants, stated in a report that the Bank of Englands (BoE) future interest rate path has become uncertain following its vote to hold interest rates steady. He noted that policymakers appear to believe that concerns about inflation have outweighed concerns about the economy, leaving the possibility of further rate cuts in the near term "undecided." Thiru stated that rate setters will want to assess the impact of various measures in the governments spending and tax plans, to be announced in November, before considering further easing policy. Therefore, December would be the earliest they might consider a rate cut.AMD (AMD.O)s pre-market losses widened to 5%.On September 18th, Lloyd Harris, Head of Fixed Income at Miton Investors, a London-based investment firm, stated: "Having already cut interest rates five times, the Bank of Englands decision to hold rates steady is unsurprising." Inflation remains stubbornly stubborn at 3.8%, and wage growth, at 4.7%, continues to exert pressure. The UK is now the most severely affected economy in the developed world by stagflation—a severe combination of high inflation, low growth, and rising unemployment. This environment is a testament to the ability of central bankers to perform their duties, but they cannot do it alone. Current government policies, far from curbing stagflation, are actually exacerbating it: rising employer costs and increased taxes are driving up inflationary pressures and slowing economic growth. The next key event for the Bank of England and all sterling asset markets is the Autumn Budget. If, as we expect, the government continues to raise taxes, we fear the Bank of England will have to continue to grapple with this difficult stagflationary situation.ECB board member Escriva: There are signs that the foreign exchange system is becoming less biased towards the single currency.
