EUR/USD 1.04603
-0.389%
Gold 2934.64
-0.152%
Oil 70.150
-3.276%
USD/JPY 149.130
-0.358%
GBP/USD 1.26302
-0.299%
GBP/JPY 188.355
-0.626%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 23, local time on February 23, Russian presidential press secretary Peskov responded to Ukrainian President Zelenskys remarks after the meeting between Russia and the United States. He stressed that the negotiation process between the Russian and American heads of state on the Ukrainian issue should not be hindered in any way, and the two sides should smoothly realize their respective political will. Peskov specifically pointed out that Donetsk and other four places will not conduct any form of transactions or transfers. In 2022, after the outbreak of the Russian-Ukrainian conflict, Luhansk, Donetsk, Zaporizhia, and Kherson joined the Russian Federation through referendums in September of that year. Recently, the United States proposed a so-called "rare earth for aid" mineral cooperation agreement to Ukraine. Ukraine has rich rare earth reserves, of which lithium and titanium are the main components of Ukraines rare earth resources. Although Ukraines key mineral resources are diverse, some of them are already under the control of Russia. On February 20, local time, Ukrainian President Zelensky said that he was ready to reach an agreement with the US President on investment and security issues.According to a Reuters/Ipsos poll on February 23, 58% of Americans said that inflation would be an important factor in their voting in future elections, and 32% approved of Trumps approach to inflation. 55% said that deporting illegal immigrants would be an important factor, and 47% approved of Trumps approach to immigration.SHEINs sales in 2024 increased by 19% to $38 billion; net profit decreased by nearly 40% to $1 billion.Russias Defense Ministry said Russian troops captured Ulakli and Novoderivka in eastern Ukraine.Ukraine said Russia launched 267 drones at Ukraine overnight, 138 of which were shot down.

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