EUR/USD 1.14195
0.290%
Gold 4017.83
-1.319%
Oil 70.343
1.379%
USD/JPY 161.939
0.116%
GBP/USD 1.32440
0.349%
GBP/JPY 214.478
0.467%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 29, Federal Reserve Governor Tim Cook stated, “This matter (the mortgage fraud allegations) has absolutely nothing to do with mortgage documents I signed before I became a Federal Reserve Governor. This is purely a conspiracy to remove me from office, and the pretext is entirely fabricated. The reason I am being targeted is because I refused to succumb to political pressure and insisted on setting interest rate policies solely based on what is best for the American people. This is the most fundamental responsibility of a Federal Reserve Governor. Today’s ruling reaffirms a principle that underpins generations of sound economic management: the Federal Reserve must make all policy decisions based on evidence and independent judgment, free from political interference.” “The Supreme Court’s decision to uphold the lower court’s order and affirm the necessity of due process and just cause recognizes that the Federal Reserve’s independence is crucial to achieving the congressional goals of ‘price stability’ and ‘full employment.’ I am deeply gratified by this ruling. As long as I serve on the Federal Reserve, I will continue to uphold the principle of political independence and serve the American people wholeheartedly.”Castle Securities: Investors have underestimated Federal Reserve Chairman Warshs determination to curb inflation. Higher interest rates could put pressure on risk assets.CMA CGM has signed a $400 million logistics terminal agreement in Oman.According to The Verge, Apples (AAPL.O) Mac and iPad devices may be getting an upgrade to OLED screens with better color performance.On June 29th, Xunze (03317.HK) announced that it has formally entered into a cooperation framework agreement with Beijing International Big Data Exchange Co., Ltd. Beijing International Big Data Exchange is a key project in Beijings implementation of the "National Comprehensive Demonstration Zone for Expanding Opening-up in the Service Industry" and the "China (Beijing) Pilot Free Trade Zone" in the digital economy field, aiming to become a leading domestic data trading infrastructure and an important international hub for cross-border data flow. This cooperation marks a further deepening of the companys strategic layout in the data element market and national-level data trading platform. It is a crucial step for the companys data tokenization capabilities to be implemented in vertical industries, embodying intelligent data circulation, providing digital asset services, and co-building a data ecosystem in the biomedical vertical sector.

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