Cable falls further after below-forecast UK January inflation
Cable extends weakness into second straight day, initially deflated by stronger dollar on unexpectedly hot US inflation on Tuesday, while today’s softer than expected UK CPI data raised bets for BoE rate cut by June and added pressure on…
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Unchanged UK inflation in January provides relief to Britain’s central bank
British inflation unexpectedly remained unchanged at 4.0% in January, contrary to expectations of a 4.1% increase. This stability offers relief for the Bank of England and Prime Minister Rishi Sunak, particularly in the lead-up to an…
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Dollar index – bulls regained control after hotter than expected US January inflation
The dollar index is trading near three-month high in early Wednesday, following sharp rise (0.7%) on Tuesday, sparked by higher than expected US January inflation, which cooled bets for the first Fed rate cut.
Fresh advance generated…
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Gold falls below $2000 after US inflation data
Gold price fell sharply after US data showed January inflation increased above expectations and cooled hopes for early start of Fed rate cuts, which made the dollar more attractive and deflated demand for safe haven bullion.
The price…
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US inflation rises above expectations in January
Inflation in the United States rose above expectations in January amid rises in the costs of shelter and healthcare, but January’s increase is unlikely to have stronger impact on growing expectations that the Federal Reserve will start…
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UK earnings ease in December but BOE looks for more evidence before starting to cut rates
British earnings grew at the weakest pace in more than a year at the end of 2023, but the labor market slowdown was probably not significant enough to prompt the Bank of England into faster action towards cutting interest rates.
Wages…
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Bitcoin – overbought studies suggest that limited correction would precede fresh push higher
Bitcoin keeps firm tone and holds near one-month high on Monday, after advancing 12.5% last week (the biggest weekly gains since mid-Oct 2021) however, narrower ranges in past three days suggest that bulls might be running out of steam on…
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Oil price dips on easing concerns about Middle East supply
WTI oil edged lower in early Monday, following calmer tones regarding possible end of Israeli strikes on southern Gaza, which eased fears about supply disruptions from the Middle East.
Fresh easing started to develop a reversal pattern…
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GBPUSD – limited recovery warns of prolonged sideways mode
Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day.
A double Doji (Fri/Thu) signal indecision as daily…
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EURUSD – recovery likely to stall under the base of thick daily cloud
Recovery leg from 1.0723 double bottom (Feb 5/6) started to face increased headwinds on approach to daily Tenkan-sen (1.0810), with the base of thick daily cloud (spanned between 1.0828 and 1.0969) laying just above and adding pressure.…
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