EUR/USD 1.14153
-0.125%
Gold 4108.33
-0.370%
Oil 71.472
-0.264%
USD/JPY 161.729
-0.397%
GBP/USD 1.33978
-0.077%
GBP/JPY 216.686
-0.473%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Kremlin: On one side is Russia, and on the other are Ukraine, several European countries, and the United States, who have supplied Ukraine with millions of tons of weapons. This is no longer a special military operation; it is a full-scale war.The Kremlin: When Ukrainian President Zelenskyy came to power, he promised the people to end the conflict—his initial promise. He can still end the conflict by making responsible decisions—withdrawing troops from the Donbas region, from areas now annexed by Russia, and by recognizing the status quo as a legal fact.On July 11th, reports surfaced that Tencent is in talks to become the largest shareholder of Manus, a general AI agent company. According to the report, a Chinese capital consortium led by Tencent is reportedly repurchasing all of Manuss shares from Meta at a valuation of approximately $2 billion. When contacted for confirmation, Tencent had not yet responded at press time. Sources familiar with the matter also revealed that Tencent will retain a minority shareholder position after the transaction, but will not hold a controlling stake.July 11 – According to Russian sources on July 10, when asked whether Turkey had applied to Russia for the sale of the Russian-made S-400 air defense missile system, Russian Presidential Press Secretary Dmitry Peskov stated that the topic was "very sensitive." Russia has already contacted Turkey regarding the future of the S-400 air defense missile system and will continue to maintain communication with Turkey on this issue.July 11 (KCNA) – A spokesperson for the DPRK Foreign Ministry issued a statement on July 11, saying that the United States and its allies recently revealed their intention to orchestrate confrontation during the NATO summit, undermining the European security environment and creating instability in the Asia-Pacific region. The spokesperson stated that the open incitement of confrontational behavior by the US-led NATO allies and partners during the summit proves that NATO is a "war-confrontational organization" seeking exclusive geopolitical interests and acting against international peace globally. The spokesperson added that NATO should have disappeared with the end of the Cold War, but in order to maintain and strengthen its status, it has recklessly pursued eastward expansion, systematically undermining the European security environment, shifting responsibility to other countries, and creating instability in the Asia-Pacific region. These provocative activities must not be tolerated. The spokesperson emphasized that the DPRK will accelerate its efforts to build up its strength to deter confrontational attempts and military threats, and safeguard national sovereignty, security interests, and regional peace and stability.

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