EUR/USD 1.14769
0.173%
Gold 4155.53
-1.272%
Oil 76.425
1.330%
USD/JPY 161.255
-0.077%
GBP/USD 1.32335
0.223%
GBP/JPY 213.401
0.155%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 20th, it was reported that Ukrainian President Volodymyr Zelenskyy stated on June 19th local time that negotiations between Ukraine and Russia might resume, with the specific format of the talks yet to be finalized. He emphasized that third-party partners must be involved in the negotiations. Zelenskyy also clarified Ukraines core demands, covering post-war security guarantees and EU accession, and stated that Ukraine would allow Russia to finalize the specific format of the negotiations. Currently, Russia has not responded to this.Ukrainian Foreign Minister: Polands decision to revoke Ukrainian President Zelenskys Order of Honor is a "strategic mistake".Polish President: Decides to revoke the Order of the White Eagle, the highest honor awarded to Ukrainian President Zelensky.According to Axios: US President Trump said that such a thing (about war with Iran) could trigger a global depression, and the agreement reached has averted that fate.On June 20th, Federal Reserve Vice Chairman for Supervision Bowman attended a private dinner hosted by Bank of America for its clients in New York on Wednesday evening. According to sources, the dinner was by invitation only. This came just hours after the Federal Reserve announced its latest policy decision. The dinner took place during the Feds communication blackout period, which prohibits Fed officials from publicly commenting on the economic situation or monetary policy in the days before and after a meeting, and lasts until the day after the meeting (Thursday). While the Feds rules do not explicitly prohibit closed-door meetings, they require officials to avoid sharing personal policy views with anyone who might financially benefit from them, unless those views are publicly available. The rules also state that officials should not allow any company to gain a prestige advantage relative to its competitors. Under the Feds communication policy, policymakers should carefully and rigorously consider this principle when arranging meetings with those who might benefit from exclusive access to Fed officials, and when considering accepting invitations to meetings hosted by for-profit organizations or not open to the public and media. It is unclear whether Bowmans attendance at the dinner violated these rules.

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