The Pound Sterling surged against the dollar following the US Nonfarm Payroll data release, which added 216K new jobs in December. Despite revisions to key datasets, markets surged on the NFP forecast-beater, pushing the US Dollar broadly lower and sending the Pound Sterling to a new 2024 high. US Average …
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The core Personal Consumption Expenditures Price Index would increase by 0.1% in November, signifying a 3.3% increase from the previous year according to market estimates. Policymakers should take heart from this since it provides a steadier picture of pricing pressures by removing unpredictable prices for food and petrol.A 3.3% reading …
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The Pound Sterling is up against the Euro by 0.5%, while hawkish remarks from Bank of England policymakers have helped the pound to surge. Before Wednesday’s trading session, the Euro is trading near its lowest point and showing little signs of recovery. In testimony before the Treasury Committee of the …
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Amidst growing geopolitical tensions in the Middle East, risk aversion remains the driving force behind the financial markets. The GBP/USD pair hit a three-day low of 1.2113, with sellers aiming for the next support level at 1.2100. The US economy is doing well, according to economic data; in September, new …
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Investor expectations that the following policy divergence between the Fed and the BoE will end have given the British pound a boost. Investors continue to support the GBP/USD pair as they anticipate further interest rate increases from the BoE. The UK’s manufacturing industry and real estate market have suffered greatly …
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The Dallas Fed’s Texas Manufacturing survey has revealed that the Fed’s hawkish interest rate hikes have had a negative impact on the economy. The August survey found that the production index, which measures factory activity in the state, fell again in August, dropping 6 points to -11.2, the lowest level …
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On a quiet Monday’s trading session, US stocks finished modestly higher on a shortened session. On Tuesday, Wall Street will remain closed due to Independence Day. The low volume could lead to consolidation and/or erratic moves.Economic DataThe US dollar lost momentum on Monday following the release of the ISM Manufacturing …
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In June, the eurozone’s factory decline got worse. According to a poll that portrayed an increasingly bleak picture for the industry, industrial activity in the Eurozone shrank more quickly than initially estimated in June as continued policy tightening by the European Central Bank strained finances.Surveys released earlier on Monday showed …
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Gold prices fall 1.48% as US economic data showcases resilience, led by strong retail sales and industrial production figures. Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices; trading at $1985. 76 per ounce at the time of writing. Upcoming …
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The Gold Index XAU/USD rallies on Tuesday, benefiting from concerns over the US debt ceiling and slowing Chinese manufacturing activity.Falling US Treasury bond yields support gold prices despite strong US Dollar. Eyes are focused the upcoming US CPI data, which has the potential to impact gold prices. Gold price is …
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