The UK economy has been struggling and Friday's GDP is expected to indicate negative growth, with a market consensus of -0.1% q/q for the third quarter. In Q2, GDP showed a small gain of 0.2%. August GDP is expected at 0.0% m/m, after a 0.2% gain in September. A soft GDP report will raise speculation about a recession and could weigh on the pound. Bank of England...
💬 Description: The metal follows the previously planned course exactly. Demand continues to grow, including against the backdrop of the aggravated situation in the Middle East, but in addition, purely technically, sellers cannot realize their sales at the local elites. In the very near future, most likely, Gold prices will go towards updating local highs. In...
Bitcoin hits $35k amid more encouraging ETF news: BTC soared from ~$30k USD to ~$35k earlier in the week, before settling around $34k USD by Friday. Spurring the price action, news began circulating on Monday that BlackRock’s spot bitcoin ETF, with the ticker IBTC, was listed with the DTCC, leading to speculation that the ETF was nearing approval. Bitcoin...
The Japanese yen has steadied after three straight days of losses. In the European session, USD/JPY is trading at 150.11, down 0.19%. Tokyo Core CPI climbed 2.7% y/y in October, above 2.5% in September which was also the consensus estimate. The index, which excludes fresh food is a key indicator of inflation trends in Japan and is closely monitored by the Bank of...
The Australian dollar started the day higher but has reversed directions. In the North American session, AUD/USD is trading at 0.6357, down 0.13%. The US dollar has steamrolled the Aussie, which hasn't posted a winning week since September and dropped close to a one-year low last week. The Australian dollar has bounced back this week, however, gaining 1.08%. The...
Was curious to see the spread between the US National Debt and Real GDP. As we can see, the National Debt was sustainable prior to 2016 as productivity was greater, but this has since changed. How long can we continue this, especially with a looming recession aka reduced productivity in spite of continued deficit spending?
Just curious to see how the Real GDP chart stands against the National Debt chart. According to this, there is currently almost a 50% spread between productivity and fiscal spending. Is this sustainable?
The British pound is calm on Wednesday. In the European session, GBP/USD is trading at 1.2297, up 0.10%. The UK economy has been struggling and GDP declined by 0.5% m/m in July. The markets are expecting a rebound on Wednesday, with GDP projected to rise by 0.2% m/m in August. For the three months to August, GDP is expected to increase by 0.3%, up from 0.2% in...
The euro has extended its losses on Wednesday and has declined close to 1% this week. In the European session, EUR/USD is trading at 1.0552, down 0.18%. Germany has traditionally been the powerhouse of Europe but finds itself lagging in the rear, with a struggling economy and high inflation. The GfK Consumer Climate index fell to -26.5 for October, down from a...
The British pound is in negative territory on Tuesday. In the European session, GBP/USD is trading at 1.2470, down 0.31%. Will the real UK labour market please stand up? The UK labour market is showing signs of weakening, while at the same time wage growth grew at a record pace, according to today's employment release. The economy shed 207,000 jobs in the three...
EUR euro dollar The stock rose 0.13% to $1.0714 after ending an eight-week losing streak on Friday. sterling pound dollar It rose 0.16% to $1.2486. GBPUSD SELL 1.2490 - 1.2510 🔼🔼 ✅TP1: 1.2460 🚫SL 1.2550
The Canadian dollar is steady on Friday in what should be a busy day. In the European session, USD/CAD is trading at 1.3670, down 0.12%. Canada releases the August job report later today, with the markets braced for a decrease of 6,400 in employment. The US dollar has been on a tear against the major currencies since mid-July. The Canadian dollar has slumped,...
USD/CAD is trading quietly in Europe at 1.3651, up 0.06%. I expect to see stronger movement in the North American session, with the Bank of Canada making its rate announcement and the US releasing the ISM Services PMI which is expected to show little change. The Bank of Canada is virtually certain to hold rates at today's meeting, with just a 6% probability of a...
1. Inflation Rates Importance: Inflation is a critical indicator of economic health, affecting consumer spending and central bank policies. How it's Bullish: The EU Harmonized Index of Consumer Prices (HICP) rose 5.3% YoY in August, higher than the 5.1% anticipated. This could prompt the European Central Bank (ECB) to consider tightening monetary policy, which is...
In the ever-evolving landscape of global economics, precious metals like silver, often serve as key indicators and safe havens. This week, we'll explore the factors making silver an interesting prospect in today's market. Current Macroeconomic Indicators: The latest Consumer Price Index (CPI) data indicates a slight increase in the US for July, registering at...
The British pound showed some strength earlier on Thursday but reversed directions and lost ground after the US inflation report. In the North American session, GBP/USD is trading at 1.2725, up 0.05%. The US inflation report was somewhat of a mix, but most important was that both headline and core inflation were within expectations. This meant that the reaction...
The ‘crack spread’ is a term used in the oil industry that refers to the differential between the price of crude oil and the petroleum products extracted from it, such as gasoline and heating oil. The name comes from the process of 'cracking' crude oil in a refinery to produce these valuable products. The spread serves as a measure of refining margin, or...
The euro has bounced back on Friday after sliding 0.99% a day earlier. In the European session, EUR/USD is trading at 1.1018, up 0.38%. On the economic calendar, the US PCE Price index, the Fed's preferred inflation gauge, fell to 3.0% in June, down from 3.8% in May. The European Central Bank raised interest rates by 0.25% on Thursday, bringing the main rate to...