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 …
Read More »US oil inventory surges while Australia’s strike triggers LNG price jump
US oil inventories surged in the week ending August 4, with crude oil inventories increasing by 5.851 million barrels, surpassing market expectations of -17.049 million barrels. Gasoline stocks declined by -2.661 million barrels, while oil derivatives and products inventories fell by -1.706 million barrels. The US production rate of oil …
Read More »EUR/GBP recovers amid stronger Euro
The EUR/GBP pair recovered and keeps rising near 0.8630, seeing nearly 0.40% gains. The Euro is one of Wednesday’s top performers amongst its rival currencies.No relevant data will be released for either economy. Tightening expectations of BoE and ECB to dictate the pace. At the middle of the week, the …
Read More »Gold price is testing three-month low ahead of CPI data
Following a brief bounce ahead of the key inflation data in the United States, looming CPI figure, gold price is under selling pressure. For additional direction, investors await US inflation data. The price of the precious metal, which is currently selling at $1917.71, has decreased by almost -0.40%. The price …
Read More »US CPI Preview: Forecasts by 10 major banks
The US Bureau of Labour data will publish the US Consumer Price Index data, the most important measure of inflation, on August 10 at 12:30 GMT. As the publication date draws near, these are the forecasts given by the economists and experts of 10 major banks regarding the upcoming July …
Read More »Disney’s earnings slump on streaming concerns
Big media firms have a conundrum, as evidenced by Disney’s quarterly earnings report: traditional TV still makes money but is losing ground, while streaming is expanding but remains unprofitable. In the third fiscal quarter, adjusted earnings per share decreased to $1.03, a 6% decrease from the same quarter the previous …
Read More »US stocks slide ahead of CPI data
The tech-heavy Nasdaq and S&P 500 fell on Wednesday due to dovish comments by US Federal Reserve officials. Megacap growth and technology stocks, like Nvidia, Apple, and Tesla, shed between 0.6% and 2.5% in early trading. However, there has been some improvement in the Nasdaq, which coincides with profit taking …
Read More »Market Drivers – US Session, August 08
Financial markets are anxiously awaiting data on Chinese inflation during the Asian session, details on New Zealand’s electronic card retail sales, and expectations for the third quarter’s inflation rate from the Reserve Bank of New Zealand.Among the upcoming figures for Japan are machine tool orders for July. Due to lower …
Read More »GBP/USD falls on global economic growth woes
Due to worries about both the Chinese economic recovery and the expansion of the global economy, the GBP/USD decreased by 0.36%, remaining below the 1.2800 mark. The US dollar (USD) has been a steadfast advocate for rate stability, despite Michelle Bowman of the Fed’s push for additional rate increases. Negative …
Read More »UK companies face challenges in Eurozone
The Eurozone region presents a number of difficulties for the logistics industry, including supply chain disruptions, a talent gap, geopolitical unpredictability, complicated trade regulations, increased transportation costs, protracted lead times, and employee shortages. Brexit has been a significant impact, but other elements including the epidemic, a shortage of materials, and …
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