Author: FX
Bank of England (BoE) Governor Andrew Bailey noted late on Thursday that the primary drivers behind the BoE’s main reference rate remains the economic needs of the United Kingdom (UK), not external drivers such as the Trump administration’s tariff policies.Key highlightsRaising the UK’s potential growth rate critical.We take a gradual and careful approach as the economy is hard to read.Spend a lot of time examining risks from market fragilities, including bonds.Not useful to ask if dollar will remain reserve currency, may see some rebalancing but not anywhere near dollar losing its status.Rate cuts uncertainty prevalent.UK labour market data pretty much…
A US appeals court has reinstated US president Trumps tariffs during appeal temporarily.The keyword is “temporarily”. I would assume that is for a formal appeal to take place, but cannot be too sure. This article was written by Greg Michalowski at www.forexlive.com. Source link
XAU/USD jumps 0.94% after weak labor report despite court ruling against Trump tariffs.Initial Jobless Claims rise above estimates, increasing pressure on Fed to consider rate cuts.US GDP confirms Q1 contraction; US Dollar tumbles, fueling safe-haven demand for Bullion.Court ruling nullifies Trump tariffs, boosting risk appetite and weighing on Greenback.Gold price bounced off weekly lows of $3,245 and rose past $3,300 on Thursday, helped by a softer jobs report in the United States (US), while markets cheered a US court decision to block US President Donald Trump’s tariffs. At the time of writing, XAU/USD trades at $3,318 and gains 0.94%.The US…
Vanguard expands "Investor Choice" proxy voting program Source link
Prior month +6.1% revised to 5.5%Pending home sales for April -6.3% versus -1.0% estimatepending home sales index 71.3 versus 76.1 (revised from 76.5)Sales are down -2.5% year over yearThe 30-year fixed mortgage rate is near 6.98% which is putting a brake on salesRegionally,Northeast -0.6%West -9%Midwest -5%South -8.0% This article was written by Greg Michalowski at www.forexlive.com. Source link
The Pound Sterling recovers to 1.3470 against the US Dollar as investors reassess the impact of the US court’s decision against tariffs.The US court ruled out Trump’s tariff policy, citing it as a violation of constitutional limits.The IMF has slightly raised its forecast for UK GDP growth for the year to 1.2%The Pound Sterling (GBP) recovers from early losses against the US Dollar (USD) and reclaims the key level of 1.3500 during North American trading hours on Thursday. The GBP/USD pair rebounds as the US Dollar surrenders a chunk of its initial gains, as the United States (US) Court of…
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Chinese Commerce Ministry said in a statement on Thursday, “China and US have used multilateral and bilateral occasions to maintain communications at various levels.”Further commentsFocused on US export controls abuse in semiconductors sector.Very concerned by the EU tire anti-dumping probe.Will defend legitimate rights, interests of Chinese firms.Market reactionAmid increased risk flows, AUD/USD is extending its rebound to 0.6450. The pair is up 0.40% on the day, as of writing. US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade…
Google begins direct online sales of Pixel phones in India Source link
WTI crude oil has been climbing steadily after bouncing from its $60.50 lows, but now appears to be approaching a major test at the $64.00 psychological resistance. Will the range resistance hold, or can oil break higher on supply concerns and risk-on sentiment? WTI Crude Oil 4-hour Forex Chart by TradingView Crude oil prices popped higher as a U.S. trade court blocked President Trump’s global tariffs, easing trade tensions and boosting risk appetite. Supply worries also resurfaced after OPEC+ kept production steady and the U.S. barred Chevron from exporting Venezuelan crude. But the rally may soon hit a resistance. The…