Fed is expected to stay on hold but to signal start of monetary policy shift
The US Federal Reserve ends its two-day June policy meeting today and is likely to leave its policy unchanged but with growing expectations that the central bank would upgrade its forecast and at least hint the possibility of starting talks…
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British inflation rises above Bank of England’s target in May
British inflation rose well above expectations and extended above Bank of England’s 2.0% target in May as the country’s economy reopens after Covid lockdowns.
The consumer prices jumped to 2.1% in May, the highest in almost two years,…
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US retail sales drop in May as spending shifts from goods to services
The US retail sales fell below expectations in May, dropping by 1.3% from upward-revised April’s 0.9% increase and strongly overshooting forecast for 0.8% decrease.
Downbeat figures come as a result of consumers shifting their spending…
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EURGBP rises as delay of an end of Covid restrictions and Brexit tensions weigh on pound
The EURGBP rose in early European trading on Tuesday, regaining strength after last Thu/Fri drop on dovish ECB.
Brexit tensions and delay to end Covid restrictions for another one month, due to rising numbers of rising number of new cases…
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Lira lost traction after thick daily cloud stopped rise; Fed and CBRT policy meetings in focus
The USDTRY advances for the second straight day after the pullback from new record high (8.7536) lost power on approach to thick rising daily cloud (cloud top lays at 8.20), with double failure at 55DMA (8.2781) and subsequent bounce,…
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Sterling remains in red, weighed by expectations for delay in lifting Covid restrictions
Cable stands at the back foot on Monday and fell to one-month low (1.4069), in extension of Friday’s 0.45% drop that generated negative signal on formation of bearish engulfing pattern on daily chart.
Stronger dollar keep pound under…
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Dollar holds firm tone ahead of Fed policy meeting which would provide clearer direction signal
The dollar maintains firm near-term tone and consolidating after strong rally on Friday (up 0.56% for the day) and following the biggest weekly advance in six weeks.
Expectations that the US Federal Reserve might signal a shift in the…
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Gold extends weakness as dollar rises ahead of Fed
Spot gold accelerated further down, losing 1% in Asia / early Europe trading on Monday and adding to Friday’s 1.1% drop.
Stronger dollar keeps the metal under pressure as investors turn focus to Fed’s policy meeting later this week.
The…
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Oil prices hit new multi-year high, lifted by improved demand outlook
WTI oil price extends advance and hits the highest in nearly three years in early Monday’s trading, following bullish signal generated on last week’s close above psychological $70 barrier (the first weekly close above this level since…
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UK economy posts record annual expansion in April as economic recovery accelerates
Britain’s annual Gross Domestic Product growth hit record 27.6% in April, compared to the same period last year when tight lockdowns on widespread coronavirus pandemic paralyzed the economy.
The monthly figure showed the economic output…
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