Tag Archives: UK

The UK’s Conservative Party’s 1922 Committee will hold an internal election of a new executive next Monday. The new executive will decide whether to change the rules surrounding the grace period following the no-confidence vote. The British pound is having hard times amid political jitters. The GBP/USD pair, which touched …

Proposed legislation to allow the UK to unilaterally rip up Brexit arrangements for Northern Ireland at the risk of a trade war with the EU passed the second reading stage in the House of Commons on Monday night.As for the market’s reaction, the GBP/USD pair extends retreat from over a …

The UK retail sales arrived at -0.5% over the month in May vs. -0.7% expected and 1.4% previous. The core retail sales, stripping the auto motor fuel sales, stood at -0.7% MoM vs. -1.0% expected and 1.4% previous. On an annualized basis, the UK retail sales plunged 4.7% in May …

The UK is considering stricter enforcement of the economic sanctions measures next week after passing a relevant legislation in the wake of Russia’s invasion of Ukraine.Starting June 15, the UK’s Office of Financial Sanctions Implementation will not have to seek evidence that companies or individuals who violate the country’s sanctions …

Gas prices soared higher in the US while demand for gasoline drops before the beginning of the summer driving season. US President Joe Biden warned that Americans will likely feel “Putin’s price hike” at the gas pump in the foreseeable future. Russia’s invasion of Ukraine caused commodity prices to rise …

Britain’s retail sales unexpectedly rose 1.4% m/m after falling 1.2% in March, and sales in the three months to April fell 0.3% after a 0.7% drop in March. Britain’s consumer confidence index fell to its lowest level since the survey began in 1974, as this data comes as inflation in …

The US dollar changed course on Thursday despite prevalent risk-aversion and fell across the board. Fears and concerns burnt around inflationary pressures and the probable slowdown of the global economic growth. Demand for safe havens continued, with government bonds appreciating and yields retreating.Gold neared $1,950 a troy ounce, now trading …

US Retail Sales rose at a pace of 0.9% MoM in April, in line with the expected pace of 0.9% but slower versus the previous month’s 1.4% MoM pace of gain (which had been revised up from 0.7%), data released by the US Census Bureau on Tuesday revealed. YoY, sales …

Gold prices fell on Friday and appeared to be poised for a third consecutive weekly loss as the dollar and Treasury yields rose after the Federal Reserve’s strong stance, while investors awaited US jobs data due on Friday. Spot gold fell 0.2 percent to $1,873.75 an ounce by 0742 GMT, …

Gold has extended its losses below solid resistance around $1890. The Gold Index is recording losses during the North American session, retreating from daily highs around $1909.66, amid a risk-off market sentiment.Two central banks expressed worries about China, while the Bank of England foresees a GDP contraction on 2023 for …