Cable establishes above 1.36 pivot, additionally supported by upbeat UK retail sales
Cable maintains firm tone and stays above broken 1.3600 barrier in early Friday, extending advance into fourth straight day and on track for the third consecutive bullish weekly close.
Pound remains underpinned by expectations of BoE rate…
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Gold price surges on renewed geopolitical tensions
Spot gold advanced 1.4% on Thursday and hit new 8-month high, as renewed tensions over Ukraine and less hawkish than expected Fed minutes, boosted demand for safe-haven metal.
Fresh acceleration came ticks ahead of psychological $1900…
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US jobless claims unexpectedly increased in January
The US weekly jobless claims unexpectedly rose last week, increasing 23,000 to 248,000, beating forecast for 219,000 increase and remaining above previous week’s figure, upwardly revised to 225,000.
Although the number of Americans…
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The dollar remains at the back foot after less hawkish than expected Fed minutes
The dollar was deflated in European trading on Thursday and entered the US session in red after traders digested Fed’s minutes of January policy meeting and judged that the central bank’s outlook was less hawkish than expected.
Although…
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Fed is committed to start raising interest rates to fight high inflation, but policymakers are not…
The minutes of US Federal Reserve Jan 25/26 policy meeting showed that the central bank is ready to start raising interest rates, as inflation tightens its grip, and the labor market remains strong.
Fed officials said that it would be…
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Gold holds firm tone ahead of Fed minutes
Spot gold regained traction on Wednesday and bounced 0.5% following Tuesday’s 1% drop, keeping steady tone on strong demand as safe haven against geopolitical tensions and a hedge against inflation.
Traders await release of Fed minutes of…
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US retail sales rise well above expectations in January after strong decline in December
US retail sales surged 3.8% in January, following December’s decline (downwardly revised from -1.9% to -2.5%) and strongly beat forecast for 2.0% rise.
Strong rebound in January was sparked by surge in purchases mainly of motor vehicles…
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Higher than expected UK inflation lifts sterling
Cable ticked higher after UK inflation beat forecast in January and hits the highest in thirty years.
Further rise in consumer prices underpins expectations of more BoE rate hikes, with strong bets for the third consecutive hike in March.…
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UK inflation rises to highest in 30 years in January
Britain’s inflation rose further in January, increasing pressure on consumers and boosting expectations that the Bank of England will raise interest rates again in its next policy meeting that will be the third hike in a row.
The…
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Oil dips over 3% as tensions over Ukraine ease
WTI oil price pulls back from new 7-year high on Tuesday, as geopolitical tensions ease on news that Russia returns some military units to their bases after exercises near Ukrainian border.
Optimistic news prompt traders to collect some…
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