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GBP/USD flat as UK unemployment rise boosts BoE rate cut expectationsThe Pound Sterling (GBP) recovers some ground and trims some earlier losses on Tuesday following the release of softer-than-expected labor market figures in the UK, increasing speculation that the Bank of England (BoE) could cut rates at its December meeting. At the time of writing, GBP/USD trades at 1.3172, virtually unchanged. Read More…Pound Sterling underperforms as UK job market deteriorates furtherThe Pound Sterling (GBP) falls sharply against its major currency peers on Tuesday. The British currency weakens as the United Kingdom (UK) labour market data for the three months ending September has…
The record-setting government shutdown appears on course to conclude in a matter of days.
EUR/USD holds firm at around 1.1550 on Monday, virtually unchanged as the Greenback trims some of its earlier losses amid news that the White House backs a deal to end the US shutdown in the coming days, as reported by Bloomberg. At the time of writing, the pair trades flat at 1.1560.Speculation of US government reopening caps Euro’s advanceThe White House expressed support for a bipartisan deal aimed at reopening the government within days. Despite voting and passing the legislation in the US Senate, House Representatives must come back to Washington, as the House Speaker Mike Johnson would give 36…
“I have a mortgage balance of $600,000 on a $1.7 million house.”
West Texas Intermediate (WTI) Oil price extends its gains for the second consecutive session, trading around $60.00 per barrel during the Asian hours on Monday. Oil prices rise on optimism that the US government shutdown could end soon, boosting demand in the world’s top Oil consumer.Bloomberg reported on Monday that the record-breaking US government shutdown is nearing an end. A group of centrist Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year. The agreement would ensure federal employees receive back pay and allow states to resume delayed federal…
“We can move 10 miles south, where property is much cheaper.”
Highlights include China Inflation and Activity Data, UK Jobs, Aussie Jobs, NZ Inflation Forecasts, BoJ SOO UK Jobs MON: BoJ Summary of Opinions (Oct); Norwegian CPI (Oct), EZ Sentix (Nov), Chinese M2 & New Yuan Loans (Oct) TUE: US Veterans’ Day; New Zealand Inflation Forecasts (Q4), UK Unemployment Rate/Wages (Sep), EZ & German ZEW(Nov), US NFIB (Oct), ADPʼs new weekly “preliminary” jobs estimate WED: BoC Minutes (Oct), EIA STEO, OPEC MOMR THU: IEA OMR; UK GDP (Sep/Q3), EZ Industrial Production (Sep), US Cleveland Fed (Oct), New Zealand Manufacturing PMI(Nov) FRI: CNB Announcement; Chinese Activity Data (Oct), German WPI (Oct), Swedish…
“I’m concerned that my parents are going to strike me from any will.”
The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks before barely managing to squeeze back to flat for the day as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation. Friday would have seen the release of the latest US Nonfarm Payrolls (NFP) jobs report, but the ongoing US government shutdown, which is officially the longest shutdown in US history, is crimping the flow of official data, leaving investors to grapple with volatile private data, and…
The benchmark index has been above its 50-day moving average for 133 sessions, the longest streak since 2007. But that nearly came to an end on Friday.