by Charles Purdy | May 15, 2024
Sterling was the winner and the US dollar the loser from another round of “who’s going to cut interest rates first?” yesterday, after unemployment rose in the UK and inflation expectations rose in the USA. The Bank of England’s chief economist Huw Pill confirmed that...
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by Jonathan Cook | May 15, 2024
Believe it or not, US PPI and Jerome Powell’s comments were arguably not the biggest release this week. US inflation is vying for that title, and we’ll get April’s figures this afternoon, which could provoke more volatility. EUR/USD: the past year 1 Min 5 Min 1 Hr 1...
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by Jonathan Cook | May 15, 2024
The European consumer has been through a lot in recent years, but it seems they are ready to put that in the past. German and European consumers were more upbeat than at any time since the Ukraine war in April, a promising shoot of green this spring. GBP/EUR: the past...
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by Jonathan Cook | May 15, 2024
Nothing is ever certain in currency markets. There are far too many variables at play to have certainty, and UK wage data is one variable the Bank of England will be examining in detail. What felt like a new consensus was challenged on Tuesday, as unemployment hovered...
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by Jonathan Cook | May 15, 2024
Another logic-defying, volatile day in currency markets yesterday saw the pound gain ground over the US dollar even as the Federal Reserve played down the prospect of interest rate cuts. Sterling advanced by more than half a cent on the US dollar during the European...
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