EUR/USD 1.14264
-0.426%
Gold 4190.91
0.851%
Oil 73.931
-3.263%
USD/JPY 161.594
0.191%
GBP/USD 1.32469
0.107%
GBP/JPY 214.067
0.299%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US President Trump: Iran will never have nuclear weapons.US President Trump: The situation in the Strait of Hormuz is good, and yesterdays oil throughput through the strait reached a record high. The strait remains open.June 23 – U.S. auto safety regulators have launched an investigation into a fatal crash involving a Tesla (TSLA.O) vehicle. The car crashed into a residence Friday night, killing one person inside. The National Highway Traffic Safety Administration (NHTSA) said Monday it will investigate a crash involving a Tesla Model 3 near Houston, Texas. According to a statement from the Harris County Sheriffs Office, the Tesla driver told police he was using the Autopilot system at the time. Sheriffs officials said the vehicle veered off the road, "crashed at high speed into the brick house," and struck a woman inside. The woman later died from her injuries sustained in the crash.According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending June 16, net short positions in the Japanese yen were 150,132 contracts; net long positions in the euro were 34,353 contracts; net short positions in the British pound were 71,585 contracts; and net short positions in the Swiss franc were 40,058 contracts.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending June 16, speculators increased their net short positions in CBOT U.S. 2-year Treasury futures by 50,669 contracts to 1,270,507 contracts. They also increased their net short positions in CBOT U.S. 10-year Treasury futures by 47,275 contracts to 911,082 contracts.

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