EUR/USD 1.14360
0.035%
Gold 4174.79
1.240%
Oil 68.721
0.443%
USD/JPY 161.359
0.158%
GBP/USD 1.33524
0.049%
GBP/JPY 215.459
0.223%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 5th, the Iranian Foreign Ministry announced that the Yemeni Deputy Prime Minister visited Tehran to attend the funeral of former Iranian Supreme Leader Ayatollah Khamenei and met with Iranian Foreign Minister Araqchi on Saturday afternoon. Foreign Minister Araqchi expressed gratitude for the courage and firm stance of the Yemeni government and people in their strong condemnation of the US-Israeli military aggression against Iran and their expression of solidarity with the Iranian people. Araqchi also emphasized that Iran is prepared to utilize all diplomatic channels to promote the lifting of the blockade against Yemen and the full implementation of the Yemen peace roadmap.Iranian Foreign Ministry: A Serbian delegation visited Tehran to attend the funeral of former Iranian Supreme Leader Khamenei and met with Iranian Foreign Minister Araqchi on Saturday afternoon.July 5th - The Chinese and Russian navies will hold the "Joint Sea-2026" joint exercise in the sea and airspace near Qingdao in July. After the exercise, some forces from both sides will conduct joint maritime patrols in relevant waters of the Pacific Ocean. This is part of the annual cooperation plan between the Chinese and Russian militaries, aimed at jointly addressing security challenges and maintaining regional peace and stability.July 5th - The Trump administration is ramping up efforts to reduce the federal governments regulatory burden, unveiling a regulatory reform plan to repeal 702 existing executive orders. This reform plan, released Friday, sets a new record for the number of deregulation measures proposed in the White Houses semi-annual regulatory agenda. This figure is roughly double the scale of related reforms during any period in Trumps first presidency. Furthermore, since the start of the current federal fiscal year (beginning October 1, 2025), the government has finalized or implemented 752 deregulation measures. According to the plan, measures the government intends to repeal by the end of the fiscal year in September include: environmental review requirements for energy projects, energy efficiency standards, and regulations promoting diversity, fairness, and inclusion (DEI). The Trump administration expects that after completing all planned regulatory repeals by the end of September, it will save the U.S. economy $1.5 trillion.US President Trump: We will wait for this storm to pass and we will not let a rainstorm interrupt the 250th anniversary celebrations.

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