EUR/USD 1.16468
-0.189%
Gold 4610.10
-0.908%
Oil 97.934
0.169%
USD/JPY 158.502
0.076%
GBP/USD 1.33673
-0.247%
GBP/JPY 211.882
-0.166%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the official measurement of the China Earthquake Networks Center, a 3.4-magnitude earthquake occurred at 09:23 on May 15 in Kuqa City, Aksu Prefecture, Xinjiang (41.34 degrees north latitude, 83.96 degrees east longitude), with a focal depth of 19 kilometers.On May 15th, at todays Q1 earnings conference, SMIC co-CEO Zhao Haijun stated that the company achieved sales revenue of US$2.505 billion in Q1, a 0.7% increase quarter-over-quarter. In terms of service type, wafer revenue accounted for 93.9% of total revenue, with the amount increasing by 2.3% quarter-over-quarter, while shipment volume decreased by 0.2% quarter-over-quarter. The average selling price of wafers increased by 2.5% quarter-over-quarter, mainly due to stable and slightly higher foundry prices for some products in the companys advantageous niche markets. In Q1, the company added nearly 9,000 wafers equivalent to 12-inch wafers, with an overall capacity utilization rate of 93.1%, a 2.6 percentage point decrease quarter-over-quarter. This was mainly due to two factors: firstly, the "siphoning effect" of artificial intelligence led to mobile phone manufacturers reducing orders in Q4 last year due to concerns about insufficient supply of supporting memory chips, an impact that partially carried over to Q1; secondly, new factories completed their start-up phase in Q1, with their corresponding capacity added to the denominator of the utilization rate.The Peoples Bank of China (PBOC) announced today that it conducted 500 million yuan of 7-day reverse repurchase operations, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.Samsung Electronics union leader in South Korea: Plans to exercise constitutionally guaranteed rights.May 15 (Kyodo News) – Japanese Environment Minister Hirotaka Ishihara stated at a press conference on the 15th that, regarding the naphtha shortage caused by the deteriorating situation in the Middle East, he urged the public not to over-purchase household garbage bags designated by local governments. This statement was made in consideration of the garbage bag shortages already occurring in some municipalities due to hoarding and other reasons.

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