Share: GBP/USD continues its downward trend, dropping 0.16% despite the UK GDP narrowly avoiding a contraction in Q3. The Bank of England’s cautious stance mirrors the Fed’s, as both central banks adopt a meeting-by-meeting approach to monetary policy. Upcoming economic releases from the UK and US, including jobs, inflation, and retail data, are
Share: GBP/USD failed to gain traction on Friday, extended its losses to five consecutive days, is down 0.16% or 20 pips from its opening price after hitting a daily high of 1.2237. At the time of writing, the pair exchanges hands at 1.2205. Read More… The Pound Sterling (GBP) is expected to continue
Share: USD/CAD trades with a mild negative bias and is pressured by a modest USD downtick. The uncertainty over the Fed’s rate-hike path should help limit any meaningful USD fall. Bearish Oil prices might continue to undermine the Loonie and lend support to the pair. The USD/CAD pair ticks lower during the Asian
Former European Central Bank President, and former prime minister of Italy, Mario Draghi was cited in a report on a conference organised by the Financial Times. The FT is gated but other news services have picked up the main points made by Draghi: euro zone is nearly certain to experience a recession by the end
Deutsche Bank says Germany’s economy is set for a double-dip recession (after the recession in Q4 of 2022 & Q1 of 2023) expects a GDP contraction in Q3 2023 that’ll weigh on economic activity into 2024 despite receding inflation, we expect that private consumption will only gradually come out of its rut consumer confidence has
CIBC today indicates that next week it will upwardly revise its forecasts for US economic growth and pencil in an additional Fed hike this year. That move goes against the current prevailing market thinking that has the Fed stuck on the sidelines for months. Current pricing suggests only an 8% chance of a hike on
Share: Pound Sterling finds buying interest while UK recession risks remain intact. UK Manufacturing PMI is expected to contract for the 14th time in a row. UK’s real estate inquiries increase as households see no more increase in mortgage rates. The Pound Sterling (GBP) faces an intense sell-off despite the United States’ core Personal
Share: EUR/GBP corrects significantly to near 0.8630 ahead of the German HICP data for September. Germany’s annual HICP inflation is seen softening despite rising energy prices. The UK economy is facing the headwinds of a stubborn inflation outlook and economic woes. The EUR/GBP pair drops vertically to near 0.8630 in the European session.
Share: While speaking before the European Parliament’s Committee on Economic and Monetary Affairs on Monday, European Central Bank (ECB) President Christine Lagarde said that a recession was not a part of the baseline scenario. Lagarde added that the ECB was not talking about rate cuts and noted that the European labor market was finally
Share: Pound Sterling may continue its three-day losing spell further amid uncertainty over the economic outlook. S&P Global reported that UK Services PMI contracted for the second time straight. BoE policymakers shifted focus on the UK’s economic prospects against persistent inflationary pressure. The Pound Sterling (GBP) faces selling pressure as investors start worrying
