GBP/USD is down by over 1 percent since reaching 5-month highs last week as some analysts say Sterling's strong post-election rally has run its course. Following the unexpected election result on the night of May 7th, GB…
GBP/USD is down by over 1 percent since reaching 5-month highs last week as some analysts say Sterling's strong post-election rally has run its course. Following the unexpected election result on the night of May 7th, GBP/USD appreciated by around 7 cents in 6 trading sessions. The result also pushed GBP/EUR towards a 7-year high.
However, GBP/EUR has fallen more than 2 percent since Thursday's highs. UK Chancellor George Osborne has announced new government spending cuts. The news has put downward pressure on Sterling this morning amid bets that investors may be underestimating the negative impact on UK economic growth from government austerity.
Sterling's post-election gains could continue to unravel if Tuesday's UK inflation data at 09:30 and Wednesday's 09:30 BOE minutes are dovish.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
