EUR/USD
1.15434
0.075%
Gold
4110.12
0.953%
Oil
88.294
-2.198%
USD/JPY
160.505
-0.028%
GBP/USD
1.33798
0.094%
GBP/JPY
214.759
0.067%
Real-time News
On June 11, Tesla CEO Elon Musk will attend an online event hosted by Dutch chip equipment giant ASML on Thursday to introduce its large-scale chip manufacturing plant plan, "Terafab." The project aims to supply chips to Tesla and SpaceX, which is about to IPO. An ASML spokesperson said in a statement, "Musk will share his vision for artificial intelligence, robotics, aerospace, and semiconductor manufacturing." Meanwhile, the pricing for SpaceXs initial public offering (IPO) is also expected to be announced later on Thursday. This deal is poised to become one of the largest IPOs in history.June 11th - ABN AMRO stated that European Central Bank President Christine Lagarde had previously hinted that June would be an "appropriate time" to assess the impact of the Iranian conflict and update economic forecasts. The April meeting and subsequent speeches have indicated a very high probability of an interest rate hike at the upcoming meeting. ABN AMRO expects the ECB to raise its inflation forecasts and hint at possible further policy tightening, with a potential 25 basis point rate hike in July. The ECB Governing Council is expected to signal that further interest rate increases may be necessary. Despite the slowdown in Eurozone growth, ABN AMRO believes policymakers are still more concerned about inflation than economic activity. With the market having fully priced in a June rate hike, investors will focus on the ECBs updated forecasts and guidance on the interest rate path after this week.On June 11, the Ministry of Commerce held a regular press conference. Ministry of Commerce spokesperson He Yadong stated that since the beginning of this year, the Ministry of Commerce has earnestly implemented the decisions and plans of the CPC Central Committee and the State Council, and, together with relevant departments, has introduced a series of policies, including promoting the export of travel services, standardizing service trade, and accelerating the construction of national service trade innovation and development demonstration zones and national digital trade demonstration zones. At the same time, we have continued to implement the "Thousands of Sails Going Global" action plan for foreign cultural trade, helping cultural enterprises to explore international markets. Going forward, we will continue to ensure the effective implementation of relevant policies and accelerate the cultivation of new drivers for service trade.June 11th - Daniela Hathorn, Senior Market Analyst at Capital.com, stated that the market widely expects the European Central Bank (ECB) to raise interest rates at its meeting tonight. The importance of this meeting lies not only in the interest rate decision itself, but also in ECB President Lagardes articulation of future policy direction. The market will closely watch how the ECB defines the June rate adjustment – whether it will be seen as a one-off adjustment or the start of a broader tightening cycle. If the ECB does not rule out further rate hikes, the euro may find support, especially given the markets perception of a more cautious approach from the Federal Reserve. A hawkish stance from the ECB would improve the interest rate differential between the euro and currencies of central banks more cautious in tightening. However, if investors believe that tightening will exacerbate Europes already fragile economic growth prospects, the euros upside potential may be limited.June 11th - TD Securities analysts stated that the European Central Bank (ECB) appears poised to raise interest rates by 25 basis points to 2.25% due to accelerating inflation and the potential for energy-related pressures to spill over into core and service prices. The market seems to view the June rate hike as not a one-off move, but rather the beginning of a limited tightening policy, with a roughly 65% probability of another rate hike in September and the possibility of action by December already fully priced in. Given the widespread inflation concerns, we believe this view is reasonable: rising energy costs are pushing up overall inflation, and these pressures could ripple through service prices, wages, and expectations. Therefore, if upcoming data confirms that underlying inflation is not easing quickly enough, the likelihood of another rate hike in September is high.
