EUR/USD 1.14404
-0.019%
Gold 4015.33
0.979%
Oil 81.356
3.134%
USD/JPY 162.380
0.010%
GBP/USD 1.34578
-0.153%
GBP/JPY 218.532
-0.116%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 19th - According to Iranian sources, an explosion was heard in Abadan, Iran. The deputy governor of Khuzestan province, responsible for security affairs, stated that the outer suburbs of Abadan were attacked by missiles that day. Iranian authorities claimed the attack was carried out by the US military. The attack occurred on the outskirts of the citys administrative area, and no casualties have been reported so far. Abadan is a well-known oil city in Iran, located in the oil-producing Khuzestan province.July 19 – U.S. Energy Secretary Frank Wright stated on July 19 local time that U.S. military action against Iran will continue until President Trump achieves his objectives. In an interview, Wright said the Trump administrations goal is to prevent Iran from acquiring nuclear weapons and to weaken its ability to threaten neighboring countries and global business activities. "Therefore, this mission will continue until it is accomplished."US President Trump: Britain has such enormous potential, but it all started with developing North Sea oil.US President Trump: It’s ridiculous that Britain pays billions of dollars a year to Norway to buy oil, while Norway is only mining less valuable areas of the North Sea.US President Trump: This is one of the highest quality oil resources on Earth, with hundreds of years of production capacity remaining, and many resources yet to be discovered. This will transform Britain from a poor, disaster-stricken country into one of the richest in the world.

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