EUR/USD 1.14244
-0.101%
Gold 4163.48
-0.271%
Oil 67.867
-1.243%
USD/JPY 162.192
0.516%
GBP/USD 1.33457
-0.050%
GBP/JPY 216.462
0.466%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 6th, Tatsuo Yamazaki, former head of Japans foreign exchange policy and former finance minister at the Ministry of Finance, stated in an interview that the yen should appreciate by up to 20% from its current level (approximately 130 yen to the US dollar), refuting bets that the yen might weaken further. Yamazaki stated, "This is no longer a fundamental issue, but rather a question of how market expectations will change. But we are approaching a climax." He believes that the current estimate of the yen being undervalued by 10% is likely conservative. "I wouldnt be surprised if the yen rises to around 130. Frankly, thats my view." At the same time, Yamazaki suggested that the market should not mistake the recent apparent calm from Japanese authorities for complacency. He stated, "They have issued warnings, and anyone still holding short yen positions knows they face the risk of intervention and punishment—forced liquidation. The Ministry of Finance has gone beyond the warning stage; the authorities have indicated their willingness to take action."July 6th - In the third quarter of 2026, Shenzhen plans to launch 30 new residential projects, with an estimated supply of 882,821 square meters and 7,212 units. This includes: 770,222 square meters of residential space (6,929 units); 100,855 square meters of commercial apartments (184 units); 7,595 square meters of commercial space (63 units); and 4,149 square meters of office space (36 units).Germanys construction PMI for June was 44.8, compared to 42.4 in the previous month.Ukrainian President Zelensky: Following Russias attack on Kyiv, we call on NATO to take strong action.Samsung Electronics announced on Monday that its semiconductor business employees will receive performance bonuses of up to 100% of their base salary for the first half of this year. This generous bonus level is consistent with the second half of last year and will be distributed on Wednesday. The bonuses come as the semiconductor industry enters an unprecedented AI supercycle, with shipments of high-bandwidth memory (HBM) continuing to climb. Analysts estimate that Samsungs memory chip division generated approximately 140 trillion won (about $91 billion) in operating profit in the first half of this year alone. Full-year operating profit is likely to approach 350 trillion won. Samsung is scheduled to release its second-quarter earnings guidance on Tuesday.

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