EUR/USD 1.16141
-0.097%
Gold 4434.77
-0.854%
Oil 89.430
-0.234%
USD/JPY 156.234
0.280%
GBP/USD 1.35183
-0.046%
GBP/JPY 211.206
0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Reuters, a convoy carrying U.S. Presidential Envoy Witkov, Trumps son-in-law Jared Kushner, and Dmitriev has left the airport for Moscow.September 5th - According to air traffic control information, the US plane carrying US Presidential Envoy Witkov and Trumps son-in-law Jared Kushner entered Russian airspace at noon local time on September 5th. A motorcade welcoming the US representatives had entered Moscows Vnukovo Airport. US President Trump confirmed on September 4th that his special envoys Witkov and Kushner would visit Russia and Ukraine, bringing a plan to "end the war." Answering reporters questions at the White House, Trump said the Ukraine crisis "must be resolved." He added that sending Witkov and Kushner to Moscow and Kyiv "to see if we can achieve anything," and "its very likely well reach an agreement."September 5th - Due to recent heavy rainfall, flooding has occurred in many areas of Jiangxi Province, including Nanchang and Jian. On September 5th, the National Disaster Prevention, Reduction and Relief Commission and the Ministry of Emergency Management activated a Level IV national emergency response. To implement the important instructions of General Secretary Xi Jinping on flood prevention and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the disaster losses in Jiangxi Province, the National Development and Reform Commission has urgently allocated 20 million yuan from the central budget to support Jiangxi Province in post-disaster emergency recovery efforts following the rainstorm and flood disaster. The funds will primarily be used for the emergency reconstruction of damaged roads, water conservancy infrastructure, and public service facilities such as schools and hospitals in the disaster area, promoting the rapid restoration of normal production and living order.September 5th - According to the latest data released by the Shenzhen Real Estate Intermediary Association, in August, Shenzhen saw 3,467 new homes sold, a 23.0% decrease month-on-month but a 4.8% increase year-on-year; 5,108 existing homes were sold, a 2.3% decrease month-on-month but a 7.6% increase year-on-year. From January to August this year, approximately 48,400 existing homes were sold in Shenzhen, a 4.7% increase year-on-year.The governor appointed by Russia said that in the past 24 hours, attacks by Ukraine on the Russian-controlled Luhansk region have killed five people and injured five others.

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