EUR/USD 1.16310
0.116%
Gold 4104.17
-0.529%
Oil 61.316
-0.437%
USD/JPY 152.823
0.153%
GBP/USD 1.33113
-0.101%
GBP/JPY 203.431
0.060%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 25th, the Russian Ministry of Defense announced that over the past week, Russian forces had seized control of 10 settlements and launched large-scale strikes against Ukrainian defense industry enterprises, as well as transportation and energy infrastructure and long-range drone assembly, production, storage, and launch sites used by the Ukrainian military. Russian air defense forces shot down and destroyed a Ukrainian Su-27 fighter jet, four cruise missiles, 18 aerial bombs, 15 HIMARS rockets, and 1,441 drones. The Ukrainian Armed Forces General Staff stated that as of that afternoon, 82 battles had taken place on the front lines. Russian forces remained most active in the Pokrovsk region. Separately, the Ukrainian state news agency reported that Ukrainian forces had seized control of a settlement in the Kremlin.Newmont Mining (NEM.N): Operations at the Ahafu North mine are expected to produce between 275,000 and 325,000 ounces of gold annually over the next five years, with a total mine life of 13 years.Newmont Mining (NEM.N): The Ahafo North mine in Ghana has begun commercial production and will produce approximately 50,000 ounces of gold in 2025.The Dow Jones Industrial Average closed up 472.51 points, or 1.01%, to 47,207.12 on Friday, October 24; the S&P 500 closed up 53.29 points, or 0.79%, to 6,791.73 on Friday, October 24; and the Nasdaq Composite closed up 263.07 points, or 1.15%, to 23,204.87 on Friday, October 24.Ford Motor (FN) closed up 12%, its biggest gain since March 2020.

UK GDP comes into focus when the EUR/GBP crosses a hurdle near 0.8440

Alina Haynes

Aug 11, 2022 12:03

 截屏2022-08-11 上午10.22.00.png

 

During the early Tokyo trading session, selling pressure developed on the EUR/GBP exchange rate towards the significant resistance level (R) of 0.8440. Prior to then, the cross had reversed after a sudden decline to about 0.8420. The German Harmonized Index of Consumer Prices (HICP), which measures consumer price changes, held stable at 8.5%, while the asset declined on Wednesday after breaching a crucial support level of 0.8440. Furthermore, Germany's inflation rate matched expectations.

 

It is interesting that decreased oil prices have led to a dramatic decline in inflation in the US economy. The decline in oil prices should also contain inflation in Germany. This suggests that the ongoing energy crisis in Germany brought on by Russia shutting down a crucial gas pipeline to Europe has been unaffected by the reduction in oil prices.

 

Investors sold off the common currency's bulls. The multiplying effects of the inflation issue provide the European Central Bank (ECB) with an ever-more challenging situation.

 

The market was expecting the UK's GDP to grow by 0.3% in the second quarter, but analysts estimate a 0.2% decline. The 1.3% decrease in the UK GDP is anticipated to more than outweigh the 0.5% monthly expansion. Additionally, annual GDP predictions were reduced from 8.7% to 2.8%.

 

It is also anticipated that manufacturing output will fall short of expectations. An annual decline of 1.3% from the previous 2.3% is projected. However, the rate of industrial production increase each year might be between 1.4% and 1.6%.


Suggestion