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Recently, UK shop inflation has fallen to near zero, which is a good sign that household budget pressures are easing and that inflation in the UK has improved. The market expects the Bank of England to start easing policy as early as August, and for investors, it is necessary to pay attention to market dynamics, grasp macroeconomic trends, and formulate scientific and reasonable investment strategies.
This is a positive sign as inflation in UK shops falls to near-zero levels, and the pressure on household budgets is gradually easing. According to the British Retail Association, shop prices rose just 0.2% in June, down from 0.6% in May. In part, this is due to the sale of a large number of goods on sale and the slowdown in the rise in food prices.
On July 2, 2024, data from the interbank foreign exchange market showed that the central parity of the exchange rate between the US dollar and the yuan was against the yuan. However, the exchange rate in actual trading was RMB, which opened at 7.2700 and closed yesterday at 7.2678, with the highest and lowest points of the day at 7.2709 and 7.2700, respectively. The fluctuations in these figures, although they may seem small, are in fact rich in economic information. The difference between the mid-rate of the exchange rate and the actual transaction rate reveals the immediate impact of market supply and demand on the exchange rate. The mid-parity is usually determined by changes in the exchange rate of a basket of currencies, while the actual transaction rate is more affected by market supply and demand.
Food price inflation has now fallen from 3.2% in May to 2.5% in June, also the lowest level since December 2021. This is mainly due to the decline in the prices of staple food items such as butter and coffee. Tesco, Britain's main grocer, announced last month that consumers have increased their spending in physical stores and online as food price inflation has eased.
According to Tesco CEO Ken Murphy's forecast, "consumer confidence is improving modestly" and inflation is expected to be around very low single digits for the rest of the year. Overall, economic data shows that inflation in the UK is gradually coming under control. Against this backdrop, the market expects the Bank of England to start easing monetary policy soon, which also provides an opportunity for investors.
Today's pound to RMB exchange rate is 1 pound = 9.1894 yuan, in the latest exchange rate data on July 2, 2024, today's opening price is 9.1919, yesterday's closing price is, the highest price is 9.1927, and the lowest price is. In recent years, the GBP/RMB exchange rate has experienced peaks and troughs, and has shown a fluctuating upward trend. Among them, the global economic situation and political environment are the main influencing factors.
The market expects the Bank of England to start easing policy as early as August, with more than 60% of the possibility of a 25 basis point rate cut, while the market also expects the Bank of England to cut interest rates twice this year. In addition, the cost of living crisis has passed, and the UK is gradually coming out of the gloom.
As investors, we need to correctly grasp the market trend, formulate investment strategies with scientific and practical value, and also need to pay attention to market changes and macroeconomic trends, so as to grasp market opportunities and obtain better investment returns for ourselves.
On July 2, 2024, the central parity of the euro to the yuan exchange rate in the interbank foreign exchange market was 7.6892 yuan per euro, which is a large change compared with the latest exchange rate of 1 euro to 7.8041 yuan today. In recent years, the mainland's foreign trade exports have continued to grow, while the domestic market has gradually opened up, and the demand for imports has continued to increase.
In future investment, we need to keep an eye on the dynamics of market changes, keep up with the changes in the economic situation, and grasp cutting-edge information in order to make more accurate and scientific investment decisions. In the end, only by rational investment, balanced allocation and scientific management can we win more generous returns in the future market.
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