We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News EUR/GBP breaches 0.86 prior to BOE/ECB policy announcements; UK Inflation in focus

EUR/GBP breaches 0.86 prior to BOE/ECB policy announcements; UK Inflation in focus

The EUR/GBP exchange rate has surpassed the 0.86 threshold as dismal UK Employment data dampens demand for the Pound Sterling. Inflationary pressures are anticipated to intensify in tandem with rising household incomes in the United Kingdom. ECB Lagarde is anticipated to increase interest rates by 50 basis points to 2.5%.

Daniel Rogers
2022-12-14
2103

 EUR:GBP.png

 

In the early Tokyo session, the EUR/GBP pair is lingering around the crucial resistance level of 0.8600. The cross rebounded strongly on Tuesday following a test of the previous week's low around 0.8560 on dismal UK Employment data.

 

Claimant Count Change in November unexpectedly increased by 30,500 whereas market participants had anticipated a drop of 13,500. Aside from that, Average Earnings increased by 6.1%, which reinforced inflation estimates because rising household incomes will lead to robust retail demand. Certainly, greater incomes will assist households in countering higher payments owing to inflation-adjusted prices, but they will also leave them with more disposable income, so boosting retail demand.

 

In the future, the Consumer Price Index (CPI) statistics for the United Kingdom is crucial. According to the consensus, yearly headline inflation will fall to 10.9% from 11.1% previously. The core CPI is expected to remain unchanged at 6.5%.

 

This week, the Bank of England's interest rate decision will be the most influential factor in the British economy (BOE). The Governor of the Bank of England, Andrew Bailey, is likely to increase interest rates further in an effort to reduce inflation. Analysts at Danske Bank anticipate an announcement of a 50 basis point (bps) rate increase.

 

In its most recent Financial Stability report, the BOE predicted that financial constraints on UK enterprises, particularly smaller firms, will increase in 2023. In addition, widespread indicators of financial distress among British households have yet to appear.

 

On the Eurozone front, investors are focusing on the European Central Bank's monetary policy decision (ECB). Christine Lagarde, president of the European Central Bank, is expected to increase interest rates by 50 basis points (bps) to 2.5%. The ECB is approaching its estimated terminal rate of 3 percent.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free