EUR/USD 1.16061
-0.094%
Gold 4520.03
-0.507%
Oil 97.681
0.511%
USD/JPY 159.121
0.091%
GBP/USD 1.34220
-0.065%
GBP/JPY 213.558
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 22, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. At the conference, Guo announced that China, as the rotating president of the UN Security Council for May, will host a high-level meeting of the Security Council on May 26, with the theme of "Upholding the Purposes and Principles of the UN Charter and Strengthening the International System with the UN at its Core." Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, will travel to New York to chair the meeting. Guo explained that as the rotating president of the UN Security Council for May, Chinas initiative to convene this high-level meeting will focus on the contemporary value of the UN Charter, upholding and implementing its purposes and principles, and strengthening the authority and effectiveness of the UN and its Security Council—issues of widespread international concern. The meeting will be chaired by Foreign Minister Wang Yi and is open to all UN member states. Foreign ministers and high-level representatives from many countries have confirmed their attendance, and UN Secretary-General António Guterres will attend and provide updates. "We hope that all parties will take this meeting as an opportunity to reaffirm the lofty goals established by the Charter, reaffirm their firm commitment to multilateralism, and revitalize the UNs status and role with greater unity and responsibility, thus pooling greater efforts to reform and improve global governance," Guo said.Polish Foreign Minister Sikorski: Details of the US troop deployment are still unclear.May 22 - ING analysts say the market is still looking for signs of progress on a potential US-Iran deal. Despite some optimistic signs, uncertainty remains. This is not the first time a seemingly imminent agreement has ended in a breakdown in negotiations. Therefore, a large portion of the market remains skeptical of the positive signals we are seeing. While Iran has stated that the gap between the demands of both sides has narrowed, the issues of its uranium enrichment activities and its uranium stockpile remain. The US wants to move these stocks out of Iran. Another issue is the management of the Strait of Hormuz. Iran is pushing for a formal toll system in the strait, a move that will face considerable resistance. If implemented, it would set a dangerous precedent for the free passage of ships in this crucial global chokepoint. With the weekend approaching, uncertainty surrounding a US-Iran deal remains, and any new shifts in the wind could lead to significant market price volatility.The chart shows that at 22:00 Beijing time on May 22, there will be large foreign exchange options contracts for the Euro, Canadian Dollar, and Japanese Yen expiring, including 12 contracts with strike prices exceeding 1 billion. Please manage your risks.Futures News, May 22nd: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 201,824 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,560 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 47,160 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 31,220 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, 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