The EUR/USD pair soared to 1.0268 on headlines suggesting the European Central Bank could discuss a 50 bps rate hike when it meets this week. Economic DataThe data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of …
Read More »BoE’s Bailey: 50 bps hike will be on table at next meeting
Bank of England Governor Andrew Bailey said on Tuesday that a 50 basis points rate increase will be among the choices at the next policy meeting, as reported by Reuters.The GBP/USD pair extended its daily rally and touched its highest level in more than 10 days at 1.2045. As of …
Read More »BoE’s Bailey: Several things on table for August meeting
While testifying before the UK Treasury Select Committee on Monday, Bank of England (BOE) Governor Andrew Bailey argued that they should not pre-commit to the next policy move and said they have a range of options for the August meeting.Bailey’s comments failed to help the British pound find demand and …
Read More »GBP/USD flattened ahead of UK PMIs, US Factory Orders
The British pound’s performance is flat during the day, though slightly positive after a noticeably quiet trading day. Weaker UK economic data, high inflation, and slowing growth paint a stagflationary scenario for the GBP.On Tuesday, the UK S&P Global/CIPS Services and Composite PMIs to shed additional information on the British …
Read More »EUR/USD drops to multi-day lows
The US dollar gains momentum during the US trading session whereas the Euro records fresh lows versus the dollar, the Swiss Franc and British pound.Stocks have erased some gains in Wall Street. The EUR/USD pair dropped further and bottomed at 1.0501, the lowest level since Thursday. It then trimmed losses, …
Read More »Noor Capital | Dubai TV Mohammed Hashad’s Interview, 27 June 2022
Noor Capital | Dubai TV Mohammed Hashad’s Interview, 20 June 2022 Interviewed by Dubai TV, Mohammed Hashad, Head of Research and Development at Noor Capital and member of the American Society of Technical Analysts, shed light and commented on the developments in financial markets and developments in the situation around …
Read More »Financial Markets’ Weekly Recap, 20 – 24 June
Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs on “the semiannual monetary policy report to congress” Wednesday. Earlier this month, the Fed hiked rates by 75 basis points, or 0.75 percentage point. “Clearly, today’s 75 basis point increase is an unusually large …
Read More »Noor Capital | Dubai TV Mohammed Hashad’s Interview, 20 June 2022
Interviewed by Dubai TV, Mohammed Hashad, Head of Research and Development at Noor Capital and member of the American Society of Technical Analysts, shed light and commented on the developments in financial markets, most notably on crypto crash and Fed Chair Jerome Powell’s upcoming testimony before the Congress.European Equities: Asked, …
Read More »BOE’s Mann: My views on interest rates are not about defending sterling
Bank of England policymaker Catherine Mann said on Monday that her views on the BOE’s rate outlook were not about defending the British pound.“There is an important difference of view on the Monetary Policy Committee (MPC) on the resilience of UK consumption,” Mann added. “Since the May MPC meeting, I …
Read More »Financial Markets’ Weekly Recap, 13 – 17 June
Central banks, categorized as most observed and most monitored around the globe, are coining what can be called a campaign against surging inflation. But this week it became more obvious that they know this could be achieved only at a cost that their economies should endure.US president Joe Biden indicated, …
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