EUR/USD 1.18322
-0.154%
Gold 4927.79
-1.269%
Oil 62.967
-0.941%
USD/JPY 153.058
-0.296%
GBP/USD 1.35675
-0.453%
GBP/JPY 207.666
-0.735%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The yield on UK two-year government bonds fell by about 2 basis points to 3.565%, the lowest level since August 2024.On Tuesday, February 17th, the German DAX 30 index opened down 44.01 points, or 0.18%, at 24768.49; the UK FTSE 100 index opened up 25.41 points, or 0.24%, at 10499.10; and the French CAC 40 index opened up 1.70 points, or 0.02%, at 8318.20. The Stoxx 50 index opened down 5.83 points, or 0.10%, at 5973.05 on Tuesday, February 17; the Spanish IBEX 35 index opened down 11.91 points, or 0.07%, at 17836.09 on Tuesday, February 17; and the Italian FTSE MIB index opened down 102.70 points, or 0.23%, at 45316.50 on Tuesday, February 17.February 17th - According to data from the Comprehensive Transportation Spring Festival Travel Task Force, on February 16th, 2026 (the 15th day of the Spring Festival travel rush, the 29th day of the twelfth lunar month, Monday), the total number of cross-regional passenger flows in the whole society was 194 million, a decrease of 32.2% compared with the previous day and a decrease of 5% compared with the same period in 2025 (Tuesday).February 17th - Data shows that the UK labor market has contracted again, with the unemployment rate reaching its highest level since 2015 (excluding data during the pandemic), and wage growth slowing again. This data may reinforce the belief that the Bank of England could cut interest rates as early as next month. Earlier this month, the central bank stated that after unexpectedly strong growth, private sector wage growth is beginning to reflect the weakness in the labor market. Currently, traders have fully priced in two rate cuts from the Bank of England this year, with the probability of a 25 basis point cut in March rising to 73%.UK interest rate futures prices indicate a 73% probability that the Bank of England will cut interest rates by 25 basis points in March, compared to about 65% before the release of labor market data.

Despite the fact that Eurozone interest rates are anticipated to peak sooner, the EUR/GBP looks to have breached over 0.8630

Daniel Rogers

Dec 07, 2022 15:12

 EUR:GBP.png

 

The EUR/GBP pair has had a stronger recovery from 0.8580 during the Asian session, approaching the pivotal 0.8630 level. Despite the European Central Bank (ECB) being close to reaching an interest rate high, there has been strong demand for Euro bulls. Thus, the monetary policy meeting scheduled for next week will be of utmost significance.

 

The cross is attempting to break strongly above the significant barrier of 0.8630 for the fourth time this week. The hawkish remarks made by ECB policymakers are holding back the euro bulls.

 

"There will be another rate hike," said Constantinos Herodotou, governor of the Central Bank of Cyprus, "but we are very near to neutral." The European Central Bank's chief economist, Phillip Lane, is unsure as to whether the inflation peak has already occurred or will take place in 2019. He stated that although "much has already been done," he does not rule out more rate increases.

 

Investors are currently looking forward to Christine Lagarde's speech, which will be revealed on Thursday. The ECB President is likely to lower her inflation projection in her future statement in light of the poor retail sales numbers.

 

In contrast to expectations for a 1.7% loss, this week's Eurozone retail sales numbers showed a 1.8% decline. Aside from that, annual economic data contraction came in at 2.7% as opposed to the 2.6% consensus expectation. A decline in household demand demonstrates the effectiveness of the European Central Bank's (ECB) policy tightening initiatives. To reach their sales targets, firms could feel pressured to lower the prices of their products and services.

 

The United Kingdom's deteriorating food crisis, brought on by growing costs and a labor shortfall, has had an impact on the Pound Sterling. According to Minette Batters, president of the National Farmers Union, "the government and the entire supply chain must act swiftly." The Financial Times stated that "tomorrow might be too late." The economy already faces rising food inflation, and the issue with the supply of food will make matters worse.


Suggestion