EUR/USD 1.15568
0.036%
Gold 4294.55
1.126%
Oil 74.178
-0.176%
USD/JPY 157.691
-0.042%
GBP/USD 1.34685
0.011%
GBP/JPY 212.389
-0.029%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Fitch: The weakness of the yen does not appear to be primarily due to the relative differences in the monetary policy stances of the US and Japan.Daly, a 2027 FOMC voting member and president of the Federal Reserve Bank of San Francisco, will speak in ten minutes.Tokyo Electronics shares fell 5% in early trading.Futures News, August 6th: 1. Strong winds and rain are expected in the Philippine Islands. Influenced by the long-distance moisture transport from Typhoon Whale (No. 14) and Typhoon Dolphin (No. 13), along with the southwest monsoon, the central and northern Philippines will experience continuous heavy rainfall. This precipitation event is characterized by its long duration and large cumulative rainfall. Over the next three days, moderate to heavy rain is expected in the central and northern Philippines, with heavy to torrential rain in most parts of Luzon and Mindoro, and locally extremely heavy rain in northwestern Luzon. The cumulative rainfall in these areas is expected to be 80-150 mm, with some areas receiving 180-250 mm, and locally exceeding 300 mm in northwestern Luzon. Gale-force winds of level 6-8, with gusts of level 9-10, are expected in the central and northern Philippines and surrounding waters. In addition, over the next three days, moderate to heavy rain is expected in the central and northern parts of the Indochina Peninsula, northern and southwestern coastal areas of India, and Bangladesh, with localized torrential rain or heavy downpours, accompanied by short-duration heavy precipitation, thunderstorms, and strong winds. 2. High temperatures will persist across many parts of Asia, Europe, and North America. Over the next three days, influenced by a high-pressure ridge, parts of South Korea, southern Japan, southern Mongolia, central and western Southern Europe, eastern Central Europe, southern Eastern Europe, the Midwestern United States, and northern Mexico will experience temperatures above 35°C, with some areas exceeding 40°C. High temperatures in Turkmenistan, Uzbekistan, southern Afghanistan, central and southern Pakistan, southern Iran, Iraq, and Saudi Arabia will reach 40-42°C, with some areas exceeding 45°C.US Vice President Vance: There is no disagreement with President Trump on the Iran issue, and we are working to implement his decisions.

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