EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 20th, it was reported that on the evening of September 19th local time, Mohsen Rezaei, Secretary of Irans Supreme National Security Council, stated that Iran had presented the US government with seven conditions necessary to initiate any negotiations. Irans message was clear: "If the US wishes to extricate itself from the predicament it created and avoid becoming increasingly entangled, it has no other option but to accept Irans conditions." In an interview that day, Rezaei confirmed that Qatar, as a mediator, had conveyed Irans negotiating conditions to the US and was awaiting a response from US President Trump. Rezaei said that Irans proposed negotiating conditions included the US ending all hostilities against Iran, unfreezing frozen Iranian assets, and ending the naval blockade.Sources say the settlement talks between Paramount (PSKY.O) include a commitment to remain in California.On September 20th, Turkish Foreign Minister Fedan Hamdan stated on the 19th that Turkey will uphold its commitments under the Mecca Mutual Defense Agreement in response to the recent attacks on Saudi Arabia and may provide military-technical assistance. Speaking on Turkish NTV television, Fedan said that the signatory countries are closely monitoring the Houthi attacks on Saudi Arabia in Yemen. He said, "We are united on this issue. The agreement contains relevant provisions, and we will honor our commitments." He specifically condemned the attacks on oil infrastructure. Fedan indicated that Saudi Arabias needs for assistance may focus on certain technical aspects, which Turkey will be able to meet. Fedan also refuted claims that the Mecca Mutual Defense Agreement is progressing slowly, stating that the agreement is transformative and open to all countries in the region.Australian Prime Minister Albanese: Met with Apple Executive Chairman Tim Cook at Apple (AAPL.O) headquarters to discuss how to protect children from online harm.The Jordanian Foreign Ministry condemned the Houthi rebels for launching a ballistic missile at the Saudi capital, Riyadh.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

 GBP:USD.png

 

During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


Suggestion