EUR/USD 1.19109
0.138%
Gold 5056.48
0.621%
Oil 64.312
0.440%
USD/JPY 153.585
-0.518%
GBP/USD 1.36649
0.171%
GBP/JPY 209.877
-0.340%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 11th – At a regular press conference held by the State Council Taiwan Affairs Office on February 11th, spokesperson Zhu Fenglian stated in response to a reporters question that the DPP authorities are attempting to seek "independence" by relying on foreign powers, and are unprincipledly fawning over foreign countries and selling out Taiwan without any bottom line in the so-called Taiwan-US trade negotiations. If the relevant reports are true, Taiwans traditional industries will be severely impacted, and the food safety of the people will be completely unprotected. The DPP authorities are allowing the United States to take whatever it wants, sacrificing the prospects for Taiwans industrial development and harming the interests and well-being of the Taiwanese people, and will inevitably be rejected by the Taiwanese people.According to Punchbowl: The U.S. House of Representatives rejected a rule designed to prevent lawmakers from challenging Trumps tariff resolution.February 11th - According to foreign media reports, Song Jae-hyuk, President and Chief Technology Officer of Samsung Electronics chip business, stated on Wednesday that Samsung Electronics has returned to the top of the memory industry thanks to its next-generation HBM4 technology, a statement that reversed the companys stock price decline. Song made this unusually firm statement at SemiconKorea in Seoul. Previously, a Samsung executive publicly supported the "Samsung comeback" in January, further reinforcing market expectations that Samsungs next-generation HBM technology would be adopted by AI chip leader Nvidia. Samsung plans to begin mass production of HBM4 this month, with Nvidia expected to be its first customer.On February 11, the State Administration for Market Regulation (SAMR) issued a centralized notification to designated CCC certification bodies and laboratories regarding the results of the 2025 "random inspection and public disclosure" of designated CCC certification implementation bodies. The inspection uncovered 472 issues involving 51 institutions. Major issues included reduced or omitted certification procedures, insufficient testing and factory inspection conclusions to support certification decisions, lax oversight of key technical information in certification assessment, failure to convert certificates according to regulations, inadequate testing capabilities, and insufficient standardization in daily testing processes and management. The SAMR has already issued decisions to revoke or suspend some of the designated qualifications of the aforementioned institutions, imposed economic penalties, issued administrative warnings, and ordered them to rectify the issues within a specified period. All designated CCC certification bodies and laboratories are required to firmly establish a risk awareness, strictly implement their primary responsibilities, and effectively improve their professional capabilities to prevent various potential risks in CCC certification through full-chain supervision.On February 11th, according to Futures News, the overnight SHIBOR was 1.3660%, up 0.40 basis points; the 7-day SHIBOR was 1.5230%, down 0.80 basis points; the 14-day SHIBOR was 1.6000%, down 0.40 basis points; the 1-month SHIBOR was 1.5511%, up 0.01 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.

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