EUR/USD 1.15200
-0.029%
Gold 4253.14
0.299%
Oil 77.192
-0.231%
USD/JPY 158.415
-0.016%
GBP/USD 1.34504
-0.022%
GBP/JPY 213.077
-0.045%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Philippine Institute of Volcanology and Seismology, a 5.8-magnitude earthquake struck near Occidental Mindoro province in the Philippines at approximately 10:38 a.m. on August 7, with a focal depth of 10 kilometers.August 7th - TSMC has achieved a breakthrough in next-generation technology, successfully developing a high-performance monolayer molybdenum disulfide (MoS2) top-gate transistor in collaboration with a team from National Chiao Tung University, which could help push the limits of Moores Law. The findings were published in the journal *Nature Electronics*.On August 7th, it was learned from the Anhui Provincial Key Laboratory of Quantum Computing Chips that a joint research team from Origin Quantum and the University of Science and Technology of China has successfully solved the long-standing problem of the trade-off between speed and fidelity in superconducting quantum computing by proposing the innovative "Parameter Space Extended Controlled Phase Gate (PSE-CZ)" scheme. This allows a two-qubit quantum gate to significantly improve accuracy while maintaining high speed. The relevant results have been published in the top international physics journal *Physical Review Letters*, and experimental verification was completed on my countrys independently developed superconducting quantum computer, "Origin Wukong".Hong Kong-listed stocks related to large-scale modeling continued to rise, with MINIMAX-W (00100.HK) up nearly 25% and Zhipu (02513.HK) up over 17%.August 7th - According to statistics released today by the General Administration of Customs, my countrys imports of bulk commodities increased by 3% year-on-year in the first seven months of this year, with imports of metal ores increasing by 8.2%. During the same period, imports of machinery and electronic products reached 5.31 trillion yuan, a 29.7% increase, accounting for 41.9% of my countrys total imports. my country has actively expanded its opening-up and proactively increased imports, promoting balanced development of imports and exports. To date, zero-tariff policies have been implemented for 63 countries, and Chinas import volume has remained the second largest globally for 17 consecutive years.

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