UK retail sales drop well below expectations in June
British retail sales dropped by 1.2% in June after a 2.9% jump in May and missed forecast for 0.6% fall.
Annualized figure showed that retail sales fell by 0.2% in 12 months to June, after May’s 1.7% rise and fell below forecast for 0.2%…
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EURUSD dips from new high following ECB decision
EURUSD eases further from new multi-week high (1.0948) as markets digested ECB’s decision to stay on hold and repeat its mantra that future action will be dependent on incoming economic data.
On the other hand, confidence that the ECB…
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ECB keeps rates unchanged as expected
The European Central Bank (ECB) maintained its interest rates on Thursday, aligning with expectations and refrained from signaling its next move, citing persistent domestic price pressures and anticipated above-target inflation well into…
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USDJPY sharply down, markets suspect intervention
USDJPY was sharply down on Wednesday (down 1.3% during the European / early US session), with markets suspecting another intervention, after Japan’s authorities intervened in the market and pushed yen away from the lowest levels in nearly…
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Cable rises above 1.30 and hits new 2024 high
Cable surged through psychological 1.30 barrier and hit its highest in one year on Wednesday, after hotter than expected UK June inflation data tempered expectations for first BoE rate cut in next month policy meeting.
Fresh strength…
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Above forecast UK June inflation questions expectations for BoE rate cut in August
British inflation was unchanged at 2.0% in June, missing forecasts for a slight fall (1.9%), with strong underlying price pressures hurting bets for the Bank of England’s first rate cut since 2020 in the next month’s policy meeting.…
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Gold hits new record high
Gold hit new record high early Wednesday ($2482), following acceleration through former top on Tuesday (metal was up 1.9% for the day, the biggest daily gain since Dec 13).
Break above previous all-time high ($2450) signaled an end of…
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Oil price falls nearly 2% but key supports still hold
WTI oil price fell nearly 2% on Tuesday, on track for the biggest daily loss since June 3, as growing worries about weaker demand from China and more signals for Fed September rate cut, soured sentiment.
Fresh bears hit the lowest in…
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US retail sales flat in June and beat negative forecast
The unchanged retail sales in June, despite expectations of a decline, suggest a stronger underlying trend in consumer spending which could positively influence economic growth estimates for the second quarter.
This stable performance…
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USDJPY may fall further if US retail sales miss in June
USDJPY remains in extended consolidation of last week’s sharp fall, sparked by US inflation data and intervention by Japanese authorities.
Near-term action is holding above 55DMA (157.55) which repeatedly contained dips and marks solid…
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