Tag Archives: UK

The UK retail sales arrived at 0.6% over the month in October vs. 0% expected and -1.5% previous. The core retail sales, stripping the auto motor fuel sales, rose 0.3% MoM vs. 0.6% expected and -1.5% previous. On an annualized basis, the UK retail sales plunged 6.1% in October versus …

Sir Graham Brady, chair of the 1922 Committee, announced on Monday that Rishi Sunak is elected as leader of the Conservative Party and new prime minister following Penny Mordaunt’s decision to drop out of the contest. Sunak will reportedly deliver a private speech to Tory MPs at 1430 GMT.

Suella Braverman has left her position as UK Home Secretary, adding to the turmoil surrounding Prime Minister Liz Truss’s six-week government. In less than a week, after finance minister, Kwasi Kwarting, had been fired on Friday.The Home Secretary was reported to be leaving “by order” from the new Finance Minister …

The United Kingdom seized most of investors and traders’ attention. During London trading hours, the Financial Times suggested the Bank of England could delay the start of the quantitative tightening bond-selling program, sending the Pound up and adding pressure on the US dollar.However, the BOE quickly denied the news headline, …

The new British Finance Minister Jeremy Hunt is speaking before the House of Commons following the Leader of the House Penny Mordaunt.Earlier on Monday, Hunt announced the UK government will reverse almost all tax measures announced on the mini-budget. Speaking to MPs, UK Finance Minister said that there are still …

The 10-year US Treasury yields travelled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data paving the way for more rate hikes by Fed.In response, gold dropped below the $1,650 an ounce level, with December futures last trading at $1,643.87, down 1.74% …

The industrial sector recovery lost momentum in August, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at -1.6% MoM in August versus 0% expectations and 0.1% booked in July while total industrial output came in at -1.8% …

The UK Gross Domestic Product (GDP) monthly release showed on Wednesday that the economy returned to a contraction in August, arriving at -0.3% vs. 0% expectations and 0.2% previous. Meanwhile, the Index of services (August) came in at -0.1% 3M/3M vs. 0.2% estimate and -0.2% prior. The Cable remains little …

UK’s final reading of the second quarter (Q2) Gross Domestic Product (GDP) offered a positive surprise on early Friday. That said, the Q2 GDP improved to 0.2% QoQ versus -0.1% previous forecasts while the YoY figures increased to 4.4% versus 2.9% prior estimations. Further details suggest that the UK’s Q2 …

Intense market volatility in the UK escalated recession risks and global contagion fears. The gold market is one clear example, as it is cautiously observing the developments as prices rise from 2.5-year lows.UK market’s decline continues one day after the BoE intervened in the gilt market via an emergency bond-buying …