A spokesperson for Prime Minister Rishi Sunak’s government said Biden’s executive order gave important clarity on the U.S. approach: “The UK will consider these new measures closely as we continue to assess potential national security risks attached to some investments.” The American dollar strengthened on Thursday, supported by higher US …
Read More »Bitcoin flirts with $30,000 post-CPI data
More traders are expected to purchase Bitcoin at steep discounts as they wait for forward-looking macroeconomic data to indicate a recovery in the cryptocurrency’s price since social volume for Bitcoin has increased over the past 30 days. High inflation rates in a nation increase the value of its currency, whereas …
Read More »GBP/USD fluctuates amid US CPI data as traders shift focus to UK GDP
GBP/USD reached a weekly high of 1.2818, but dropped below 1.2700. US CPI remains above 3%, Core CPI remains 4%. UK GDP figures for Q2 release, US inflation data, reacted upwards.US Treasury bond yields soared, leading to a comeback in the US Dollar (USD) at 1.2687. The GBP/USD pair reached …
Read More »Gold positively reacts to CPI data
Gold extended its gains early on the day but the precious metal is trimming some of those after the US dollar recovers some ground as US Treasury bond yields advance. The latest inflation report for July in the US showed the CPI jumping by 3.2% YoY, below estimates and exceeded …
Read More »US budget deficit hitting $1.6 trillion so far in current fiscal year
According to the Treasury Department, the US government budget deficit reached $1.6 trillion during the first ten months of the current fiscal year. 4.110%According to the Treasury Department’s report released on Thursday, the federal budget deficit increased by more than twice as much in the first ten months of fiscal …
Read More »WTI retreated below the $83.00 post soft CPI data
Soft inflation figures from the US and weaker US dollar contribute to limiting crude oil’s losses. Eyes now are focusing on the Fed speaker later during the US trading session. WTI’s outlook remains positive amid reports suggesting tighter global supplies.On Thursday’s session, the WTI crude saw more than 1% losses …
Read More »Moody’s warning revisited as a wake-up call for optimistic banking investors
The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …
Read More »Fed’s Daly: US July CPI is a “good data point”
Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today’s Consumer Price Index report was “good news” for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down. The US Dollar Index is falling on …
Read More »Market Drivers – US Session, August 09
The Italian Ministry of Finance announced that it will cap the tax on net interest income on the most vulnerable assets at 0.1%. The markets received this official announcement with a positive response after investors in the banking sector stocks in the country saw that it comes within the framework …
Read More »GBP/USD retreats ahead of US inflation, British GDP
With important UK GDP statistics due on Friday, the Pound Sterling experiences little trading and continues to move below the 50-day EMA around 1.2724. The Bank of England’s attitude, meantime, is under pressure as market chances point to a rate hike in September at 85%, with the Bank Rate possibly …
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