China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
AI Memory Boom Sparks Global Chip Supply Crunch 
With Iran and the US signing a peace deal, where does that leave Benjamin Netanyahu? 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies 
Sell the Bounce": Gold Rally Stalls Near $4165 as Fed Hawks Slam the Door on Rate Cuts — Targets $4000/$3600 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
World Cup technology: from ref cams to AI analysts, cutting-edge research is changing the game 
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum 
Today’s space race could turn fatal if we don’t agree on new rules 
Pound which has already gained over sharp rises in wages, in spite of slowdown in global economic activity received further fuel from Bank of England's (BOE) Monetary Policy Committee (MPC) members.
Latest unemployment report showed that in three months to August, unemployment rate has dropped to 5.5% from 5.6% in prior report. Wage growth got most of the spotlight as for three months, wages rose by 2.9% both including and excluding bonus. Wage growth is much higher for services sector.
Sterling is up more than 1.1% against Dollar, trading at 1.5513, broken above key resistance.
Analysts are divided over bank of England's rate hike, while some remain skeptical, others have repeatedly warned that markets might be misreading BOE's commentary.
In parliamentary hearing several MPC members have provided additional fuel to Pound.
- Ian McCafferty - There is a risk that wages will grow faster than originally expected by the bank. Risks of persistent deflation in UK is low.
- Governor Mark Carney - Economy is growing faster than trend rate, will consider rate hike discussion at turn of the year. China influence, not determinant for rate hike.
- Kristin Forbes - Underlying inflation should start to pick up soon. Credit conditions have improved for most companies. Growth and wages to remain strong going forward.
