EUR/USD 1.14458
0.028%
Gold 3995.56
0.482%
Oil 78.933
0.062%
USD/JPY 162.218
-0.089%
GBP/USD 1.34686
-0.073%
GBP/JPY 218.490
-0.135%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 17th - According to real-time data from Lighthouse Pro, as of 3:10 PM on July 17th, the film "Kung Fu Womens Soccer" has surpassed 1 billion yuan at the box office.On July 17, Senior Colonel Jiang Bin, spokesperson for the Ministry of National Defense, issued a statement regarding recent military-related issues. It was reported that the Philippine Defense Minister recently visited Zhongye Island to participate in activities commemorating the tenth anniversary of the "South China Sea Arbitration Ruling." What is your comment on this? Spokesperson Jiang Bin stated that China has indisputable sovereignty over the Nansha Islands, including Zhongye Island, and their adjacent waters. The Philippine Defense Minister, sanctioned by China, is attempting to demonstrate a so-called "tough stance against China" through political posturing and inciting nationalist sentiment, seeking personal political gain, ultimately harming the fundamental interests of the Philippines and its people. The "South China Sea Arbitration Case" was, from beginning to end, a political farce disguised as law; the so-called "ruling" has absolutely no legal effect. China does not accept, recognize, or accept any claims or actions based on this "ruling." No matter how some people in the Philippines perform, it cannot change the historical and legal fact that the relevant islands and reefs belong to China, nor can it shake the firm resolve of the Chinese military to safeguard national territorial sovereignty and maritime rights.July 17th - A survey shows that market institutions are raising their expectations for European stocks. UBS was the most bullish in its July survey, predicting the Stoxx Europe 600 index will rise 8% by the end of this year. Bank of America, Deutsche Bank, and Kepler Cheuvreux also raised their target forecasts. The average forecast of the 18 strategists surveyed is that the index will close at 647 points by the end of 2026. While this level is less than 1% higher than the current level, bearish views are decreasing, with only 5 survey participants predicting a decline in the index. UBS strategist Gerry Fowler said, "Currently, the upside risks may outweigh the downside risks." Beata Manthey, head of European equity strategy at Citigroup, said, "We remain bullish on the outlook for European stocks over the next 12 months and are encouraged by the recent revisions to European corporate earnings forecasts. The recent upward revisions in earnings forecasts are remarkable in terms of magnitude, breadth, and timing."July 17th – At the "Global Governance and Sustainable Development of Artificial Intelligence: Challenges and Responses" forum, a sub-forum of the 2026 World Artificial Intelligence Conference, the upgraded "YiJian" 2.0 ethical review intelligent agent system was launched. Building upon its capabilities in basic research ethical review, "YiJian" 2.0 expands its scope to include artificial intelligence ethical review, focusing on AI applications in medicine. It achieves three major upgrades: knowledge rules, intelligent agent capabilities, and application systems, providing more intelligent, efficient, and standardized support for scientific and technological ethical review.July 17th Futures News: On July 17th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 312,759 tons, a decrease of 5,074 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,600 tons, a decrease of 40 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 3... 3,660 tons, unchanged from the previous trading day; 6. Petroleum asphalt futures warehouse receipts: 11,290 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 20,110 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

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