EUR/USD 1.16384
0.246%
Gold 4462.35
-0.286%
Oil 90.191
-0.892%
USD/JPY 159.920
-0.062%
GBP/USD 1.34562
0.244%
GBP/JPY 215.194
0.178%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 5th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. Petroleum asphalt plant warehouse futures receipts: 96,220 tons, unchanged from the previous trading day; 2. Petroleum asphalt warehouse futures receipts: 21,120 tons, unchanged from the previous trading day; 3. International copper futures warehouse receipts: 10,806 tons, unchanged from the previous trading day; 4. Nickel futures warehouse receipts: 86,558 tons, an increase of 1,062 tons from the previous trading day; 5. Fuel oil futures warehouse receipts: 36,160 tons, unchanged from the previous trading day; 6. Tin futures warehouse receipts: 11,905 tons, an increase of 115 tons from the previous trading day; 7. Zinc futures warehouse receipts: 109,456 tons, an increase of 149 tons from the previous trading day; 8. Stainless steel warehouse futures warehouse receipts: 84,186 tons, an increase of 2,457 tons from the previous trading day; 9. Butadiene rubber futures warehouse receipts: 29,590 tons, down 480 tons from the previous trading day; 10. Rebar warehouse futures warehouse receipts: 30,379 tons, up 2,383 tons from the previous trading day; 11. TSR20 rubber futures warehouse receipts: 27,721 tons, unchanged from the previous trading day; 12. Natural rubber futures warehouse receipts: 150,910 tons, up 300 tons from the previous trading day; 13. Pulp warehouse futures warehouse receipts: 228,812 tons, down 3,929 tons from the previous trading day; 14. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 15. Silver futures warehouse receipts: 972,611 kg, down 289 kg from the previous trading day; 16. Copper futures warehouse receipts: 95,092 tons, down 763 tons from the previous trading day; 17. 18. Alumina futures warehouse receipts totaled 426,255 tons, an increase of 3,892 tons from the previous trading day; 19. Medium-sulfur crude oil futures warehouse receipts totaled 2,961,000 barrels, a decrease of 550,000 barrels from the previous trading day; 20. Lead futures warehouse receipts totaled 56,268 tons, a decrease of 1,230 tons from the previous trading day; 21. Hot-rolled coil futures warehouse receipts totaled 451,110 tons, a decrease of 2,370 tons from the previous trading day; 22. Gold futures warehouse receipts totaled 111,663 kilograms, a decrease of 6 kilograms from the previous trading day; 23. Aluminum futures warehouse receipts totaled 489,031 tons, a decrease of 899 tons from the previous trading day; 24. Low-sulfur fuel oil warehouse futures warehouse receipts totaled 0 tons, unchanged from the previous trading day.The Bank of England reported that in the three months to May, businesses expected their product price inflation rate for the next year to be 4.0%, up 0.2 percentage points from the level reported in the three months to April.Bank of England: 24% of surveyed businesses expect wages to rise due to the conflict.The onshore yuan closed at 6.7712 against the US dollar at 16:30 on June 5, up 56 points from the previous trading day.Bank of England: 57% of surveyed businesses expect to raise prices due to the Middle East conflict.

The EUR/GBP is fluctuating close to 0.8750 as focus shifts to UK inflation and BoE policy

Alina Haynes

Mar 20, 2023 13:22

 EUR:GBP.png

 

The EUR/GBP pair is exhibiting a lackluster performance around 0.8750 during the Asian session. As investors prepare for the release of the Bank of England's (BOE) interest rate decision and the United Kingdom's Consumer Price Index (CPI) this week, the cross has moved sideways.

 

Despite the fact that the headline asserts that UBS has revitalized Credit Suisse, the cross appears to be weak. Credit Suisse shareholders will receive one share of UBS for every 22.48 Credit Suisse shares they own, valuing the bank at $3.15 billion (£2.6 billion), according to BBC News. The Swiss National Bank (SNB) stated that the agreement was the most effective means of restoring market confidence and mitigating economic risks. Additionally, the BoE endorsed the "comprehensive set of actions."

 

The consensus opinion on the street is that Governor Andrew Bailey of the Bank of England (BoE) will provide a pessimistic outlook for the interest rate decision amidst concerns of banking turmoil, which will be his top priority.

 

Rabobank analysts also anticipate a 25 basis point (bps) rate hike and caution that the market has not fully factored in this scenario. Andrew Bailey, governor of the Bank of England, would raise rates by 25 basis points to 4.25 percent.

 

Prior to that, the UK inflation data released on Wednesday will be attentively monitored. The annual headline CPI is expected to decline from 10.1% to 9.8%, according to projections. At 5.8%, the core CPI, which excludes the cost of fuels and food, would not change. It should be aware that persistent inflation in the United Kingdom is due to rising food prices and a labor shortage.

 

After the European Central Bank (ECB) raised interest rates by 50 basis points (bps) last week, Gediminas imkus, a member of the ECB Governing Council, stated on Friday that "the terminal rate has not yet been reached" For further deflation, extremely persistent inflation in the Eurozone requires higher interest rates.


Suggestion