EUR/USD 1.15360
0.097%
Gold 4324.19
0.128%
Oil 89.920
1.548%
USD/JPY 160.119
-0.036%
GBP/USD 1.33431
0.044%
GBP/JPY 213.653
0.008%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Secretary of Irans Supreme National Security Council said: If the evil alliance of Zionism and the United States makes another mistake, the region will become their hell!According to CBS News, the United States is seeking to revoke the citizenship of 17 U.S. citizens on suspicion of fraud.On June 8th, Rob Guest Pinford, a lecturer in international security at Kings College London, commented on the latest developments in the Middle East, stating that as the situation in the Strait of Hormuz stabilizes, Iran appears to be gradually entering what observers call a "neither war nor peace" state. Pinford pointed out, "Currently, Irans attitude is relatively stable, and it is not in a hurry to return to the negotiating table to seek the lifting of sanctions." He believes that compared to Iran, the United States appears to be more clearly eager to push for an agreement, despite Trumps occasional hardline rhetoric. "There is a clear contrast in the signals Trump is sending," Pinford said. "On the one hand, he frequently makes strong statements about restarting war and destroying civilization; on the other hand, he posts that an agreement is within reach." Meanwhile, when discussing Israeli Prime Minister Netanyahus decision-making logic, Pinford pointed out that Netanyahu needs to prove that Israel is taking a tough stance against Hezbollah in Lebanon, and not just implementing Trumps policy intentions. He said, "Netanyahu must demonstrate that he is cracking down hard on Hezbollah, rather than simply acting according to Trumps demands."On June 8th, WeChat announced that it is officially providing developers with the ability to easily access the WeChat AI ecosystem. Users can now access AI application services in mini-programs through the WeChat AI Agent. Meituan stated that as one of the first internal testing teams, it had previously collaborated with the WeChat team to develop and test the integration. It is understood that in the future, users will be able to access local life services such as Meituan Waimai (Meituan Takeout) through the WeChat Agent, achieving a more intelligent and convenient AI-powered life service experience.On June 8th, KBRA Senior Director Ken Egan stated that further interest rate hikes by the European Central Bank could push the Eurozone economy towards unnecessary stagflation. In a report, he noted, "Reputation is paramount. While some tightening measures may be reasonably necessary to stabilize expectations, interest rates are a crude tool for addressing supply shocks, especially when growth momentum is weak." Egan stated that the recent rise in Eurozone inflation is driven more by external energy prices than by domestic overheating. He pointed out, "Confidence is very fragile, and if policy is over-corrected, the energy shock could potentially turn into a stagflation risk." The ECB is expected to raise interest rates by 25 basis points this week.

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