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 demonstrates a lackadaisical decline near 0.8670; UK employment is in focus

EUR/GBP demonstrates a lackadaisical decline near 0.8670; UK employment is in focus

After relinquishing the 0.8650 support level, EUR/GBP is anticipated to resume its decline. Positive employment news from the United Kingdom will bolster the pound bulls. Corporate profit margins in the Eurozone are being impacted by escalating energy costs.

Daniel Rogers
2022-09-13
373

截屏2022-09-13 上午9.46.47.png 

 

After reaching a four-day low of approximately 0.8650 on Monday, the EUR/GBP pair demonstrated a brief pullback. The cross is anticipated to begin its downward path after completing the retreat and will accelerate its decline after giving up the important support level of 0.8650. The asset will likely respond to upcoming employment statistics from the United Kingdom.

 

According to forecasts, the unemployment rate in the United Kingdom will continue at 3.8%. While the number of individuals receiving unemployment benefits will decrease by 9.2k, the unemployment rate will remain same. The Average Earnings data is the catalyst that families should consider due to greater payouts in an inflationary climate. The labor cost index will increase substantially to 5% from 4.7%, which would assist households in offsetting the higher payments caused by surging inflation.

 

In addition, Wednesday's UK inflation data is also of great importance. The Consumer Price Index (CPI) in the United Kingdom is anticipated to remain above 10% at 10.2%. This will compel the Bank of England (BOE) to further increase interest rates. This may exacerbate the policy gap between the Bank of England and the European Central Bank.

 

Meanwhile, the bulls of the common currency face rising energy costs. The forthcoming winter season in Europe will increase the amount of energy required to power heaters and other heat-generating appliances. Consequently, energy demand will increase more. Following an unanticipated 75 basis point (bps) increase in interest rates by the ECB last week, the central bank will announce additional rate increases as price pressures remain above the intended rate.

 

The corporate sector in the eurozone is experiencing a period of falling margins due to rising energy costs. As a result of rising energy costs, input expenses for major corporations have skyrocketed, squeezing their operating margins and driving a few enterprises to bankruptcy. The impact of rising interest rates and rising energy costs on their earnings performance is significant.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free