EUR/USD 1.15954
-0.135%
Gold 4348.43
0.740%
Oil 97.119
-3.390%
USD/JPY 153.683
-0.474%
GBP/USD 1.35260
0.113%
GBP/JPY 207.876
-0.364%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The British Foreign Secretary spoke with the Saudi Foreign Minister to discuss the Houthi aggression in Yemen and attacks on Saudi Arabia. The British Foreign Secretary stated that Britain stands firmly with Saudi Arabia and the internationally recognized Yemeni government in opposition to all attacks.On September 13, Ukrainian Presidential Chief of Staff Budanov stated that Ukraine is preparing for a new round of negotiations in October, which will involve Ukraine, Russia, and the United States. Budanov did not disclose specific details such as whether the negotiations would be held in the Middle East or elsewhere.September 13th - SpaceX (SPCX.O)s weighting in the Nasdaq 100 index is expected to increase later this month, a move that could trigger billions of dollars in buying from passive funds tracking the benchmark index. According to simulated data released Friday evening by Nasdaq Global Index Monitor, SpaceXs weighting in the Nasdaq 100 is projected to rise from approximately 1.28% currently to approximately 2.82%. The final weighting will be determined later this month. Wall Street expects this adjustment to prompt index funds and ETFs tracking the benchmark index to add billions of dollars in purchases of SpaceX stock.September 13 - According to Al Jazeera on the 12th, Iranian Foreign Ministry spokesman Bagaei said that Iran and Oman are expected to brief Gulf states on the results of their consultations on navigation in the Strait of Hormuz at a regional meeting to be held on the 14th.According to Iranian state media, two explosions were heard on Qeshm Island, the sound originating from the sea.

The EUR/GBP is fluctuating close to 0.8750 as focus shifts to UK inflation and BoE policy

Alina Haynes

Mar 20, 2023 13:22

 EUR:GBP.png

 

The EUR/GBP pair is exhibiting a lackluster performance around 0.8750 during the Asian session. As investors prepare for the release of the Bank of England's (BOE) interest rate decision and the United Kingdom's Consumer Price Index (CPI) this week, the cross has moved sideways.

 

Despite the fact that the headline asserts that UBS has revitalized Credit Suisse, the cross appears to be weak. Credit Suisse shareholders will receive one share of UBS for every 22.48 Credit Suisse shares they own, valuing the bank at $3.15 billion (£2.6 billion), according to BBC News. The Swiss National Bank (SNB) stated that the agreement was the most effective means of restoring market confidence and mitigating economic risks. Additionally, the BoE endorsed the "comprehensive set of actions."

 

The consensus opinion on the street is that Governor Andrew Bailey of the Bank of England (BoE) will provide a pessimistic outlook for the interest rate decision amidst concerns of banking turmoil, which will be his top priority.

 

Rabobank analysts also anticipate a 25 basis point (bps) rate hike and caution that the market has not fully factored in this scenario. Andrew Bailey, governor of the Bank of England, would raise rates by 25 basis points to 4.25 percent.

 

Prior to that, the UK inflation data released on Wednesday will be attentively monitored. The annual headline CPI is expected to decline from 10.1% to 9.8%, according to projections. At 5.8%, the core CPI, which excludes the cost of fuels and food, would not change. It should be aware that persistent inflation in the United Kingdom is due to rising food prices and a labor shortage.

 

After the European Central Bank (ECB) raised interest rates by 50 basis points (bps) last week, Gediminas imkus, a member of the ECB Governing Council, stated on Friday that "the terminal rate has not yet been reached" For further deflation, extremely persistent inflation in the Eurozone requires higher interest rates.


Suggestion