Pound Sterling consolidates amid uncertainty over interest rate peak

Share: Pound Sterling attempts recovery from below 1.2600 but still remains fragile as factory activities weaken further. UK factory activities dropped to 43.0, the lowest reading in the past 39 months. The BoE is expected to raise interest rates consecutive for the 15th time this month. The Pound Sterling (GBP) strives for a

GBP/USD halts decline and reclaims 1.2600

Share: The British Pound (GBP) stopped its free-fall on Monday against the US Dollar (USD) amidst a UK Summer Bank Holiday, which spurred choppy trading amongst most FX pairs during the overlap of the London-New York session. At the time of writing, the GBP/USD is trading at 1.2601, gaining 0.19%. Read More… The Pound Sterling

JPMorgan chief economist no longer expects a US recession

JPMorgan economists now no longer expect a US recession ‘this calendar year’. This is one of those instances where it becomes abundantly clear that the consensus has moved from recession…to mild recession…to soft landing…to no landing. I still think there’s room for optimism in risk assets because so much money that was on the sidelines

Gold capitalizes on soft consumer expenditure and labor cost growth

Share: Gold price falls back as Greenback swallows steroids amid US economic resilience. US Q2 GDP, demand for Durable Goods in June remained robust due to higher consumer spending. US recession fears fade significantly amid upbeat labor market conditions. Gold price (XAU/USD) recovers downside blip propelled by softer-than-anticipated United States Q2 Employment Cost index and