EUR/USD 1.14264
-0.012%
Gold 4159.66
-0.755%
Oil 73.751
-0.204%
USD/JPY 161.586
0.006%
GBP/USD 1.32435
-0.038%
GBP/JPY 214.001
-0.024%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 23, the State Administration for Market Regulation released a list of cases of unconditional approval for mergers of undertakings from June 8 to June 14, 2026. These cases include the acquisition of Anhui Wanwei Group Co., Ltd. by Anhui Conch Group Co., Ltd., and the establishment of a new joint venture between the Saudi Public Investment Fund and Saudi Aramco.On June 23, 2026, the draft of the Financial Law of the Peoples Republic of China was submitted to the 23rd session of the Standing Committee of the 14th National Peoples Congress for its first review. The Financial Law is the fundamental, comprehensive, and overarching law governing my countrys financial sector, positioned as the "1" in the financial legal system, playing a guiding, leading, and regulating role. The laws "N" concerning banking, insurance, and securities, as well as other financial laws and regulations "X," need to be aligned with the basic provisions established by "1," with equal emphasis on legislation and revision, specifically regulating financial activities in each sector. Together, "1+N+X" constructs a scientific, complete, and unified financial legal system. The draft Financial Law adheres to the main themes of strong regulation, risk prevention, and promotion of high-quality development, emphasizing the coordinated development and security, and focusing on resolving legal challenges hindering high-quality financial development.Hong Kong-listed large-scale model stocks weakened, with MINIMAX-W (00100.HK) opening higher but closing down more than 3%, and Zhipu (02513.HK) once falling nearly 8%.Hong Kong-listed pharmaceutical company Jieankang (02617.HK) fell nearly 50% in early trading, with a turnover of over HK$6.76 million.According to Futures News on June 23, as of 09:30 Beijing time, WTI crude oil futures rose 0.43%, while US natural gas futures fell 0.61%.

The EURGBP sustains modest gains over the mid-0.8700s, but lacks bullish conviction

Daniel Rogers

Nov 14, 2022 18:48

The EURGBP cross advances for a second day in a row on Monday and continues its modest intraday gains into the start of the European session. The cross is currently located above the middle of 0.87, but lacks bullish conviction and follow-through buying.

 

The common currency continues to receive some support from wagers on an aggressive policy tightening by the European Central Bank (ECB). In contrast, the negative economic projection for the United Kingdom devalues the British Pound. In reality, the National Institute of Economic and Social Research (NIESR) projects that the United Kingdom's fourth-quarter GDP growth would be flat and the likelihood of a recession remains high. It is thought that this will strengthen the EURGBP cross.

 

However, the chance that the Bank of England will increase interest rates further operates as a tailwind for the British pound. Aside from this, a slight US Dollar recovery from a near three-month low exerts some pressure on the Euro and, at least for the time being, limits any meaningful gain for the EURGBP cross. Ahead of this week's crucial UK macro data - the monthly jobs report on Tuesday and the CPI report on Wednesday - traders remain reluctant to place risky wagers.

 

The Monetary Policy Report Hearings at the Bank of England on Wednesday and the Autumn Statement by Chancellor Jeremy Hunt on Thursday will provide markets with extra advice. This will play a vital role in shaping the near-term GBP sentiment and the next leg of the EURGBP cross's directional move. In the lack of market-moving economic data from either the Eurozone or the United Kingdom, it is anticipated that spot prices would stabilize within a range.

Suggestion