The unemployment rate in the United Kingdom fell to 3.5% in the three months to August 2022, a new low since 1974 and lower than the previous period’s 3.6% and market forecasts of 3.6%. The rate of economic inactivity increased by 0.6 percentage point or 252K to 21.7%, the highest since records began in 1971, owing to people being sick… Read More »UK unemployment has reached levels not seen since 1974, but the pound is unfazed
Most investors will be keeping an eye on the second part of the week as the US prepares to release PPI, CPI, and Core Retail Sales data. This could result in a high level of volatility at the week’s finish, along with the FOMC meeting minutes. The PPI, CPI, and Core Retail Sales predictions point to continued expansion in the… Read More »Week ahead in Forex Markets (Oct 10 – 14), Main focus on FOMC, BOE Governor Bailey speaks
The pound fell against the dollar on Wednesday, capping a six-day rally but remaining well off recent lows following the government’s U-turn on some tax cuts earlier this week. The pound fell 0.6% to $1.1404 (GBPUSD) and was little changed at 87.095 pence per euro (EURGBP). The pound has recovered some ground after falling to a record low of $1.0327… Read More »Sterling drops ahead of UK Prime Minister Truss’s speech.
Week ahead in Forex Markets (Oct 3 – 7), Main focus on RBA, RBNZ’s rate hikes and the US Non Farm payroll data
As we are entering the last quarter of the year, We have major news releases like RBA, RBNZ interest rate decision and the USD’s Non Farm Payroll Major Economic events RBA’s policy decision (Oct 3, 11:30 pm GMT)The RBA may increase rates by a another 50 basis points. Or, with a 25bps rate hike, will members let off the gas… Read More »Week ahead in Forex Markets (Oct 3 – 7), Main focus on RBA, RBNZ’s rate hikes and the US Non Farm payroll data
USD – Fed announces another 0.75 percentage point increase in interest rates JPY – BOJ keeps ultra-low rates, dovish policy guidance CHF – The Swiss National Bank raises interest rates to 0.5% in order to cool the country’s raging inflation. GBP – Bank of England hiked interest rates for a seventh straight time for 50 bps