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US annual producer price inflation picks up to 2.6% in June

Published at Fri, Jul 12 2024 - 5:08 pm

US producer prices grew at a slightly faster pace than expected in June, numbers on Friday showed, in contrast to data earlier this week which showed a slowdown in consumer price inflation. The Bureau of Labor Statistics said producer prices rose 2.6% on-year in June

Pound jumps above USD1.29 as dollar slumps after US data

Published at Thu, Jul 11 2024 - 3:33 pm

The dollar tanked in the wake of a cooler US inflation reading on Thursday, sending the pound to its best level in around a year, and spurring the euro on to the cusp of the USD1.09 mark. The reading also offered the yen some respite too, with the dollar falling belo

Euro mixed after France poll and pound up again

Published at Mon, Jul 8 2024 - 5:03 pm

The euro recovered from some post-French election nerves, while the pound rose as traders digested early policy plans by the new UK chancellor. Against the dollar, the euro rose to USD1.0843 on Monday afternoon in London, from USD1.0830 at the same time on Friday.

Pound gets boost thanks to Labour landslide

Published at Fri, Jul 5 2024 - 4:52 pm

The pound was on the up on Friday, after Labour's landslide general election, which has seen the Tory party witness one of its worse loses in its history. "There is always a sense of nervousness ahead of markets opening the day after a general election, but

Dollar declines on soft jobs figures, Powell remarks

Published at Wed, Jul 3 2024 - 4:56 pm

The dollar lost ground on Wednesday after comments by Federal Reserve Chair Jerome Powell boosted rate cut hopes and figures showed signs of softening conditions in the US labour market. Versus the dollar, the pound firmed to USD1.2709 on Wednesday afternoon in Londo

Euro falters despite hot CPI while dollar makes ground

Published at Tue, Jul 2 2024 - 4:47 pm

The euro gave up Monday's gains on Tuesday despite hotter-than-forecast inflation figures held back by uncertainty over the electoral outcome in France. Versus the dollar, the euro eased to USD1.0722 on Tuesday afternoon UK time, from USD1.0742 on Monday. Sterlin

Euro perks up after first round of French election

Published at Mon, Jul 1 2024 - 3:55 pm

The euro climbed on Monday after results from the first round of the French legislative election soothed some market unease, while the dollar traded mixed as eyes turn to US jobs data. Versus the dollar, the euro rose to USD1.0742 on Monday afternoon UK time, from US

Dollar edges lower as US inflation cools as expected

Published at Fri, Jun 28 2024 - 4:07 pm

The dollar eased slightly on Friday after figures showed the Federal Reserve's favoured inflationary measure cooled in line with forecasts. Against the dollar, the pound fell to USD1.2646 on Friday afternoon from USD1.2652 on Thursday. The euro slipped to USD1.07

Dollar struggles despite upward US growth revision

Published at Thu, Jun 27 2024 - 4:51 pm

The dollar was on the back foot going into Thursday afternoon, as forex traders digested a wave of economic data from the US. Against the dollar, the pound rose to USD1.2652 on Thursday afternoon from USD1.2638 on Wednesday. The euro climbed to USD1.0716 on Thursday,

Gold slips before US inflation

Published at Wed, Jun 26 2024 - 2:21 pm

Spot gold slid to USD2,310.29 an ounce on Wednesday from USD2,334.33 on Tuesday. Silver fell to USD28.93 from USD29.57. The yellow metal looked shaky in thin trade as investors stood on the sidelines ahead of the release of the US core personal consumption index on F

Oil prices remain stable

Published at Tue, Jun 25 2024 - 2:29 pm

Oil prices were little changed on Tuesday as traders sought clarity on the global demand outlook, while supply limits kept the energy market well supported. A barrel of Brent crude fetched USD85.46 around 1200 BST on Tuesday, almost flat from USD85.42 on Monday. The

Euro climbs but remains under pressure amid French poll

Published at Mon, Jun 24 2024 - 4:32 pm

The euro rebounded on Monday, while the pound was up, as eyes were on politics in Europe. Against the dollar, the pound rose to USD1.2668 on Monday afternoon from USD1.2644 on Friday. In the UK, it is the final full week of campaigning before the July 4 general el

Pound weakens as BoE keeps interest rates unchanged

Published at Thu, Jun 20 2024 - 3:51 pm

The pound fell on Thursday, after the Bank of England decided to leave interest rates unchanged, a day after inflation cooled to the central bank's target. Sterling fell to EUR1.1823 on Thursday against the euro, down from EUR1.1835 on Wednesday. Against the doll

Pound jumps as UK inflation ebbs before BoE

Published at Wed, Jun 19 2024 - 5:54 pm

The pound rose on Wednesday, after UK inflation data cooled to the Bank of England's target, putting the central bank's decision on Thursday under the spotlight. "Inflation hitting the Bank of England's 2% target might not be the magic moment desired

Eyes on UK inflation data; AUD higher on RBA hold

Published at Tue, Jun 18 2024 - 6:05 pm

The pound rose on Tuesday, ahead of UK inflation data on Wednesday followed by an interest rate decision from the Bank of England the following day. Meanwhile, the Australia dollar rose as the Reserve Bank of Australia left interest rates unmoved. Sterling rose to

Oil slips on complexity of supply demand dynamics

Published at Mon, Jun 17 2024 - 2:50 pm

Oil prices inched lower on Monday, despite renewed optimism over the demand outlook, amid market uncertainties on the timing and scale of US rate cuts. A barrel of Brent crude fetched USD82.48 around 1150 BST on Monday, down from USD82.78 on Friday. The price of West

US monthly import, export prices fall against expectations

Published at Fri, Jun 14 2024 - 3:24 pm

US import and export prices in May fell at a monthly level against expectations, data from the US Bureau of Labor Statistics showed Friday. Import prices fell 0.4% in May from April, counter to a FXStreet cited forecast of a 0.1% rise. In April of this year, import p

US consumer price inflation rate cools to 3.3% in May

Published at Wed, Jun 12 2024 - 3:14 pm

The US annual inflation rate unexpectedly eased last month, numbers on Wednesday showed. The Bureau of Labor Statistics reported that the year-on-year consumer price inflation rate cooled to 3.3% in May from 3.4% in April. According to FXStreet, markets were expectin

Oil price rally gains speed

Published at Tue, Jun 11 2024 - 2:21 pm

Oil prices rose on Tuesday as the rally continued to gather momentum amid supply limit concerns and expectations of demand up-lift in the US. A barrel of Brent crude fetched USD81.30 around 1200 BST on Tuesday, up 1.9% from USD79.76 on Monday. The price of West Texas

Dollar continues post-nonfarms march as euro struggles

Published at Mon, Jun 10 2024 - 3:52 pm

The dollar continued to climb on Monday following Friday's red-hot US jobs data, though the euro struggled after the latest European elections caused political uncertainty. The euro's slump propelled the pound above the EUR1.18 mark for the first time since t

European Central Bank cuts rates by 25 basis points

Published at Thu, Jun 6 2024 - 3:30 pm

On Thursday, June 6, 2024, the European Central Bank cut interest rates for the first time since 2019, outpacing the US Federal Reserve and the Bank of England. The Frankfurt-based institution reduced rates by 25 basis points, a move that was widely anticip

Oli prices recover despite global demand remains weak

Published at Wed, Jun 5 2024 - 3:54 pm

Oil prices rebounded on Wednesday, but global demand concerns kept a lid on further potential gains, while a surprise build in US oil inventories prompted traders to take a cautious stance. A barrel of Brent crude fetched USD77.74 around 1150 BST on Wednesday, slight

US job openings fall more than expected in April

Published at Tue, Jun 4 2024 - 7:13 pm

The number of job openings in the US dropped more than expected in April, figures on Tuesday showed, suggesting the labour market may be starting to cool. According to the US Bureau of Labor Statistics the number of job openings was 8.1 million on the last business d

Oil down despite Opec+ decision

Published at Mon, Jun 3 2024 - 2:44 pm

Oil prices remained weaker on Monday, although the world's leading producers agreed at the weekend to keep energy supplies tight in an attempt to boost prices. A barrel of Brent Crude fetched USD81.02 around 1150 BST on Monday, down from USD81.51 on Friday. The p

US GDP growth slows as expected; trade deficit widens

Published at Thu, May 30 2024 - 3:02 pm

The gross domestic product in the US climbed as expected in the first quarter of 2024, data from the Bureau of Economic Analysis showed Thursday. The country's real GDP edged up 1.3%, decelerating from growth of 3.4% in the final quarter of 2023. The figure came

IMF lifts China growth forecast, warns on industrial policy

Published at Wed, May 29 2024 - 3:05 pm

The International Monetary Fund on Wednesday raised its yearly growth forecast for China, but warned that Beijing's industrial policy risks a "misallocation" of resources and could harm trade. The world's number-two economy has been battered in rece

Gold holds steady before US inflation

Published at Tue, May 28 2024 - 2:36 pm

spot gold was virtually flat at USD2,345.32 an ounce on Tuesday from USD2,345.48 on Monday. But silver was at USD31.61, up from USD30.85. The yellow metal remained steady ahead of the US inflation data on Friday. Gold has recently rallied amid expectations of inte

Oil prices rebounded on Monday

Published at Mon, May 27 2024 - 2:47 pm

Oil prices rebounded on Monday as traders shifted their attention to the upcoming meeting of leading oil producers later in the week, while gold rallied ahead of important US inflation report. Public holidays in the US and the UK on Monday kept trading volumes light.

Dollar climbs on back of robust US data

Published at Fri, May 24 2024 - 3:04 pm

The dollar was largely higher on Friday, as robust US data continues to chip away at Federal Reserve rate cut expectations. Against the dollar, the euro faded to USD1.0848 on Friday afternoon UK time, down from USD1.0857 on Thursday, but rising slightly from USD1.084

US initial jobless claims fall after markets expected rise

Published at Thu, May 23 2024 - 3:07 pm

US initial jobless claims fell from a week earlier, coming in below expectations of a weekly rise, numbers on Thursday showed. According to the Department of Labor, initial claims for unemployment benefits in the week to May 18 totalled 215,000, coming in below FXStr

Dollar perks up as dust settles after softer US data

Published at Fri, May 17 2024 - 4:30 pm

The dollar went into the weekend higher on Friday, clawing back some of its post-US inflation data weakness. Against the greenback, the euro faded to USD1.0842 on Friday afternoon UK time, from USD1.0865 on Thursday. "Despite somewhat favourable PPI/CPI data

Dollar faces "hurdles" as euro backed to hit USD1.10

Published at Thu, May 16 2024 - 4:16 pm

The dollar surrendered more ground on Thursday, struggling to mount a rebound in a sign of the "profound impact" of Wednesday's US inflation reading. Federal Reserve interest rate cut conviction built following the data. According to the CME FedWatch To

Weaker UK data, rate cut prospect weighs on pound

Published at Tue, May 14 2024 - 3:34 pm

The pound struggled for direction on Tuesday, after a weaker unemployment reading and the suggestion from a central banker that rates could soon be cut, contrasted with sticky wage growth. Against the dollar, the pound traded at USD1.2556 on Tuesday afternoon UK time

Pound perks up after initial post-BoE slump; dollar down

Published at Thu, May 9 2024 - 3:23 pm

The pound initially struggled in the wake of the latest Bank of England decision, which had a dovish tilt to the vote split, but it won back some impetus after a weaker US labour market data, which could presage an eventual rate cut by the Federal Reserve. Against th

Pound weakens before BoE decision; dollar climbs

Published at Wed, May 8 2024 - 3:39 pm

The dollar made strides on Wednesday, while the pound struggled for traction on the eve of the next Bank of England decision. Against the greenback, sterling fetched USD1.2481 on Wednesday afternoon London time, down from USD1.2552 a day prior. The euro slipped to US

Greenback rises as Australian counterpart slips post-RBA

Published at Tue, May 7 2024 - 4:49 pm

The dollar's decent start to the week continued on Tuesday, as its recovery after Friday's slump continues, while the pound was weaker as eyes turn to Thursday's Bank of England decision. The Australian dollar, meanwhile, struggled after the Reserve Bank

Euro supported by PMI data; dollar recovers

Published at Mon, May 6 2024 - 4:24 pm

The dollar largely clawed back some of the ground it lost following Friday's softer-than-expected US jobs report, while stronger data supported the euro on Monday. Against the dollar, the euro faded to USD1.0784 on Monday, from USD1.0789 on Friday. It traded as h

Oil remains under pressure

Published at Thu, May 2 2024 - 3:26 pm

Oil prices extended losses on Thursday amid signs of the demand weakness in the world's largest economy and as hopes of a truce in the Middle East grew. A barrel of Brent Crude fetched USD83.94 around 1210 BST on Thursday, down from USD85.05 on Wednesday. West Te

Dollar falls then rises after US data; yen plunges

Published at Fri, Apr 26 2024 - 5:57 pm

The dollar struggled for direction in the immediate aftermath of a key US inflation measure landing hotter-than-expected, while the yen tumbled after the Bank of Japan stood pat. Against the dollar, the euro climbed to USD1.0714 around 1250 GMT Friday afternoon, from

US data gives dollar impetus as yen sinks before BoJ

Published at Thu, Apr 25 2024 - 4:09 pm

The dollar perked up slightly on Thursday afternoon, after surrendering some ground in the morning, after data showed US economic growth eased at the start of the year, but inflation pressure accelerated. The yen's woes continued, as the dollar approached the JPY

Robust inflation data supports Australian dollar

Published at Wed, Apr 24 2024 - 3:20 pm

The dollar was mixed on Wednesday on the back of softer-than-expected US economic data, while the pound and Australian dollar made strides against the greenback. Hawkish words from a UK central banker aided sterling. An Australian inflation reading supported the auss

US business activity expands at slower pace in April

Published at Tue, Apr 23 2024 - 6:25 pm

US business activity continued to expand in April, albeit at a more modest rate amid signs of weaker demand, figures from S&P Global on Tuesday showed. The headline S&P Global flash US purchasing managers' index composite output index dropped to 50.9 in A

Pound slumps and dollar largely higher before US data

Published at Mon, Apr 22 2024 - 5:10 pm

The dollar was largely higher on Monday, kicking off a key week in decent fashion, while the pound struggled after a Bank of England rate-setter painted an optimistic picture as far as the fight to contain inflation goes. Thursday has the release of the latest US gro

Dollar mixed against pound and euro amid US jobs data

Published at Fri, Apr 5 2024 - 3:26 pm

The dollar traded mixed on Friday, and stronger against the euro, after US non-farm payrolls growth beat expectations significantly. Against the dollar, the euro fell to USD1.0809 on Friday from USD1.0860 on Thursday. Versus the yen, the dollar inched down to JPY1

Dollar lower as US initial jobless claims come in hot

Published at Thu, Apr 4 2024 - 4:08 pm

The dollar was trading largely lower on Thursday, after data showed that initial jobless claims in the US increased from a week earlier and higher than expected. Against the dollar, the euro rose to USD1.0860 on Thursday from USD1.0777 on Wednesday. Versus the yen

Dollar gets boost from ISM manufacturing report

Published at Tue, Apr 2 2024 - 5:14 pm

The dollar was stronger on Tuesday, after two key manufacturing reports were released on Monday, while the pound took a hit following a morning of economic data from the UK. Against the dollar, the euro fell to USD1.0751 on Tuesday from USD1.0803 on Thursday. Grow

Pound struggles on softer BoE rate expectations

Published at Fri, Mar 22 2024 - 4:44 pm

The dollar rounded off the week largely higher on Friday, though the pound fell under the weight of dovish Bank of England expectations and some less-than-stellar UK data. Against the dollar, sterling fell to USD1.2620 Friday afternoon UK time, from USD1.2719 on Thur

Dollar, franc and pound struggle on dovish central banks

Published at Thu, Mar 21 2024 - 3:31 pm

The dollar slid on Thursday, after the Federal Reserve's dot-plot suggested a trio of rate cuts in the offing this year, while a dovish Bank of England meant the pound struggled to keep pace with the stronger strides against the greenback registered by global counte

Yen slips despite rising conviction that BoJ hikes

Published at Mon, Mar 18 2024 - 4:03 pm

The dollar traded largely higher on Monday, while the yen and franc both declined at the start of the week, but there were differing interest rate expectations in Japan and Switzerland. It is a key week on the central banking calendar, with decisions from the Reserve

US annual consumer price inflation rate picks up to 3.2%

Published at Tue, Mar 12 2024 - 5:13 pm

The US consumer price inflation rate unexpectedly picked up speed last month, numbers showed Tuesday. The Bureau of Labor Statistics said the pace of year-on-year consumer price growth picked up to 3.2% in February, from 3.1% in January, where it had been expected to

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