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Flash PMIs The GBP experienced a slight dip in early trading as the UK’s public sector net borrowing figures for April came in higher than expected. The government borrowed £25.6 billion, reflecting increased energy costs, benefit payments, and interest payable on gilts. However, there is room for optimism as the energy price guarantee is likely […]

GBP awaits UK CPI release amid slump in housing market and possible change in rate hike expectation The GBP is awaiting key UK-specific news this week, with April inflation data scheduled to be released on Wednesday. In the meantime, an update on the housing market showed a decline in the year-on-year increase in asking prices,

GBP Yesterday, the GBP had a quiet session with no significant data releases. Bank of England Governor Andrew Bailey’s testimony to the Treasury Select Committee did not generate much market reaction, as his comments did not contain new information. GfK Consumer Confidence data, which showed a slight improvement from the previous month but has proven

Bank of England Governor Andrew Bailey Yesterday’s session was relatively quiet for the GBP, with no significant data releases. The focus was on central bank commentary, particularly a speech by Bank of England Governor Andrew Bailey at the British Chamber of Commerce Annual Conference. Bailey reiterated that inflationary risks were skewed to the upside, and

GBP market Yesterday’s focus in the GBP market was on UK labor market data and its implications for monetary policy and the pound. The release showed a softening in the labor market, with a decline in payrolled employees and an unexpected increase in unemployment. This data suggests that the anticipated slowdown in the job market

The us dollar The US dollar (USD) has been supported by concerns over a potential breach of the US debt ceiling, leading to defensive positioning in the currency. Despite the counterintuitive nature of a default leading to dollar strength, historical market behavior suggests that investors tend to favor the dollar in such situations. Additionally, weakening

Bank of England, Hiking Cycle: Is the End in Sight? Following the decicion of the Bank of England to raise the Bank Rate to 4.50%, market participants are seeking further guidance on the future path of interest rates. However, it is believed that the Bank of England’s hiking cycle may be coming to an end,

British Pound: Challenges and Outlook Amidst Uncertainty over UK Interest Rates The British pound (GBP) faced challenges in maintaining its recent rally against the US dollar and the euro. The uncertainty surrounding UK interest rates and the Bank of England’s (BoE) future actions limited the pound’s upside. While a 25 basis point hike in the

British Pound Challenges and Uncertainties: UK Interest Rates and Future Outlook In yesterday’s trading session, the British pound (GBP) faced challenges in maintaining its momentum despite a weaker-than-expected US inflation report. Initially, the pound reached a five-month high against both the US dollar and the euro but retraced most of its gains later. The uncertainty

GBP and EUR Market: Bullish Outlook for GBP Faces Market Resistance Sterling continued to capture significant attention from analysts yesterday, with the Financial Times featuring a front-page story on the improvement in some analysts’ forecasts. The more optimistic outlook for GBP in the GBP and EUR Market, is based on the belief that the UK