EUR/USD 1.08976
0.420%
Gold 3161.84
0.948%
Oil 69.144
-1.811%
USD/JPY 147.836
-0.968%
GBP/USD 1.30430
0.281%
GBP/JPY 192.831
-0.635%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 3, the U.S. Senate passed a bill by 51 votes to 48 that would end the 25% tariff imposed by U.S. President Trump on Canadian imports. It is reported that the resolution is non-binding and House Republicans are not expected to vote on the policy. The bill proposed by the Democrats will end the national emergency declared by Trump on January 22. Earlier, the White House issued a statement saying that under the International Emergency Economic Powers Act (IEEPA), the threat posed by illegal immigration and drugs constitutes a national emergency, and Trump announced an additional 25% tariff on imports from Canada.Foreign investors bought -489.7 billion yen of Japanese bonds in the week ending March 28, compared with -179.74 billion yen in the previous week.Japan bought 583.2 billion yen of foreign stocks in the week ending March 28, with the previous value revised from 272.1 billion yen to 175.4 billion yen.Japan bought -5.9 billion yen in foreign bonds in the week ending March 28, with the previous value revised from -207.1 billion yen to -233.7 billion yen.Foreign investors bought -450.4 billion yen of Japanese stocks in the week ending March 28, and the previous value was revised from -120.6 billion yen to -120.06 billion yen.

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