EUR/USD 1.15709
-0.060%
Gold 4210.65
-0.003%
Oil 82.881
-2.644%
USD/JPY 160.200
0.149%
GBP/USD 1.34105
-0.037%
GBP/JPY 214.841
0.121%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Russian Ministry of Defense reported that Russian troops liberated 172 buildings in Konstantinovka, the "Donetsk Peoples Republic," while Ukrainian troops suffered 40 casualties.On June 13, the Islamic Republic of Iran Broadcasting reported that Iranian officials announced the funeral arrangements for the late Supreme Leader Ayatollah Khamenei.June 13th - According to the Financial Times, US investment groups are seizing the opportunity presented by Trumps ouster of Maduro to aggressively acquire Venezuelas underutilized oil fields. Miami-based Lionheart Capital has taken the lead, signing a letter of intent to merge its listed shell company, Lionheart Holdings, with Keo Energy, which owns oil field assets in Venezuela. Sources say the merger would create the first Venezuelan oil company listed on Nasdaq, providing direct investment access for US and institutional investors. The report states that Lionheart plans to list the oil company at a valuation of approximately $1 billion through the merger; its shell company, Lionheart Holdings, raised $230 million in 2024. Sources indicate that negotiations are still in the early stages and have not yet been finalized, and may fall through. Lionheart Holdings plans to hold a shareholder vote next week to gain more time to find acquisition targets, otherwise it may face liquidation.Polish Prime Minister Donald Tusk announced on Saturday that Poland will end its fuel price cap this summer, citing expectations of a de-escalation of the conflict involving Iran and price stabilization. In March, the Polish government announced a reduction in the fuel value-added tax (VAT) from 23% to 8%, lowered the excise tax to the lowest level in the EU, and began daily price caps on motor vehicle fuels. These measures have been extended every two weeks since their implementation. This Friday, Poland decided to extend the VAT exemption and price cap on gasoline and diesel until the end of June, but did not extend the excise tax exemption. Tusk stated, "Throughout the crisis, our fuel prices have been the cheapest in Europe, but we will end this measure this summer."On June 13th, Lei Jun, Chairman of Xiaomi Group, posted on Weibo that Xiaomi Auto highly values testing, investing heavily in its testing efforts. Currently, the entire testing team comprises over 800 people, more than 45% of whom are experts with over 10 years of experience. This team has completed over 35 million kilometers of testing in more than 300 cities. Xiaomi Auto has 126 laboratories in four cities: Beijing, Nanjing, Shanghai, and Wuhan, covering a total area of over 65,600 square meters. Additionally, it has rented two comprehensive vehicle testing grounds in Yancheng, Jiangsu, and Guangde, Anhui. There is also a dedicated team of approximately 500 people conducting extreme environment testing. They are divided into summer and winter testing teams, primarily responsible for testing in four extreme environments: Heihe (high-altitude and frigid), Turpan (high-temperature), Kunlun Mountains (high-altitude), and Hainan (high-humidity).

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