Tag Archives: GBP

On Thursday, the British blue-chip stock index set a record as the Bank of England moved closer to reducing interest rates, with a second official endorsing the move. Meanwhile, the pound sterling and UK bond yields declined. Sterling hit a two-week low of $1.2446, down as much as 0.4% vs …

The US dollar started the week on the back foot in a week where interest rate cut bets by the Fed would be in the focus of interest amidst the FOMC event and the release of Non-farm Payrolls data for April.The US dollar lost Friday’s gains due to the yen’s …

Official data released on Thursday confirmed that the British economy slipped into a mild recession last year, posing a significant challenge for Prime Minister Rishi Sunak as he seeks to reassure voters about the economy’s stability ahead of anticipated elections later this year. According to the Office for National Statistics …

The major central banks’ monetary policy announcements cause the pound sterling to plunge sharply against the US dollar, hitting a new low that hasn’t been seen in two weeks. The market took a wrong turn on Thursday after the Bank of England became more dovish. As of this writing, the …

After US inflation data came in higher than anticipated, the dollar maintained its good start to the week, supporting investors’ further repricing of a Federal Reserve rate cut in June.As confidence in the Fed’s summer easing cycle increased, the USD Index recovered the territory above the 103.00 mark. A light …

Markets seem to have entered a consolidative stage ahead of key data releases on both sides of the ocean, while Fed speakers and ECB officials equally appear aligned behind the idea of cutting rates later than the majority of investors anticipate.The USD Index maintained its gradual leg lower in place, …

GDP Data Release:Data released Thursday morning by the Office for National Statistics in Britain revealed that the country’s gross domestic product (GDP) contracted by 0.1% on a monthly basis in January. This figure exceeded market expectations, which had predicted a contraction of 0.2%. Notably, the previous reading for December indicated …

The UK’s GDP is expected to experience a marginal contraction in Q4, with the Bank of England expecting a slow but steady increase in growth over the next few quarters. If the GDP prints meet market consensus, the UK economy would have entered a “technical recession” following the 0.1% contraction …

A growing appetite for riskier assets caused gold prices to retreat during the North American session, closing in on the $2010 area. The recovery of interest in the risk complex put pressure on the dollar and drove the EUR/USD pair above 1.0900. News of further stimulus in China from the …

Thursday was the day of robust data. Strong data, rate cut bets bolstered the US dollar again. Another positive set of results in US key indicators boosted the upside bias in the US dollar and underpinned the tighter-for-longer narrative around the Fed. The same view seems to emerge around the …