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The US January PPI month-on-month and year-on-year rates, and Canadas December GDP month-on-month rate will be released in ten minutes.Bank of England Chief Economist Peel: The process of inflation falling is "progressing well and uninterrupted."February 27th - Ukrainian President Volodymyr Zelenskyy stated on the 27th that there is a "window of opportunity" for achieving peace between now and the US midterm elections in November. Zelenskyy said he is ready to hold talks with Russian President Vladimir Putin and will do everything in his power to achieve peace. He also emphasized that Ukraine will never relinquish its territory. He added that the United States has the capability to end the war, but must exert greater pressure on Russia.February 27th - German inflation unexpectedly fell to the European Central Banks target level of 2% in February, down from 2.1% in January, while the countrys economic recovery remains slow in early 2026. Although the German economy has begun to show signs of recovery after years of stagnation, the Bundesbank considers its growth momentum to be relatively weak. Fiscal stimulus measures are expected to begin taking effect this spring, bringing at least 1% economic growth and helping to stabilize inflation at 2%. ECB policymakers have stated they are satisfied with the pace of price increases and borrowing costs in the eurozone. Borrowing costs have remained at 2% since last June. Economists expect interest rates to remain unchanged at least until the end of next year – despite current inflation rates being below the target level.On February 27, *ST Haiqin announced that it received a "Prior Notice of Administrative Penalty" from the Fujian Regulatory Bureau of the China Securities Regulatory Commission on February 27, 2026. The company has triggered other risk warning situations as stipulated in Article 9.8.1 of the "Shanghai Stock Exchange Stock Listing Rules (Revised in April 2025)". The companys stock will be subject to additional risk warnings by the Shanghai Stock Exchange starting from March 2, 2026.

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.


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