EUR/USD 1.15610
0.327%
Gold 4343.88
2.439%
Oil 76.270
-1.423%
USD/JPY 157.556
-0.559%
GBP/USD 1.34972
0.326%
GBP/JPY 212.662
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
HSBCs preview of the US July CPI: It is expected that several core inflation components will cool down more than expected, leading to both the overall CPI and core CPI falling short of market expectations.August 9th - The US CPI report, to be released next Wednesday, is undoubtedly the most closely watched data of the week. Economists generally expect the annual inflation rate to slow slightly, but core inflation is likely to remain high, reflecting persistent price pressures in the services and housing sectors. According to the latest data, the Federal Reserve remains cautious, emphasizing that it needs further assurance that inflation is sustainably approaching its 2% target before considering interest rate cuts.August 9th - As Typhoon Dolphin approaches, its impact on Shanghai continues to intensify, making the flood control situation severe. Mayor Gong Zheng chaired a video conference today (August 9th) to coordinate typhoon defense and response efforts, conducting further checks, deployments, and implementation of typhoon preparedness measures.According to real-time data from Lighthouse Pro, as of 12:04 PM on August 9th, the film "The Eight Immortals!" had grossed over 1.4 billion yuan.Conflict Updates: 1. Russian Operations Command: The Ilsky oil refinery caught fire due to drone debris. 2. Ukraine claims attacks in Kyiv and other areas, resulting in multiple deaths and injuries. 3. Local authorities state the fire at the Ilsky oil refinery in Krasnodar has been extinguished. 4. According to Interfax: Russia claims a drone attacked a ship carrying weapons for the Ukrainian military east of Odessa. 5. The Ukrainian military states that Ukrainian troops attacked the Ilsky and Sizlan oil refineries in Russia, causing the fire. Other Updates: 1. US Officials: Ukraine agrees to avoid attacks on non-Russian oil tankers and Black Sea oil facilities. 2. New Zealand imposes new sanctions on Russia following US actions. 3. Zelensky: The US will provide Ukraine with Patriot interceptor missiles monthly. 4. Ukrainian President Zelensky expresses gratitude for the US Senates passage of the Russian sanctions bill. 5. Zelensky visits Serbia as Russias influence weakens. 6. Sources: Musk refused to allow Ukraine to use Starlink to strike targets within Russia. 7. A Ukrainian drone violated Bulgarian airspace and exploded, endangering key energy facilities. Bulgaria has summoned the Ukrainian ambassador regarding the incident. 8. Ukrainian Foreign Ministry: Ukraine has no intention of launching any equipment towards Bulgaria.

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