Sterling steadies after worst week in 9 months versus euro
Jul21

Sterling steadies after worst week in 9 months versus euro

  Sterling steadied on Friday but was on track to record its worst week against the euro in nine months, with the single currency rallying across the board on bets that the European Central Bank was on track to tighten monetary policy next year. The pound sank to an eight-month low of 89.91 pence earlier in the day, extending the falls of the previous day after ECB chief Mario Draghi said possible changes to the central...

Read More
UK’s public sector posts rise in borrowing by 8.6%
Jul21

UK’s public sector posts rise in borrowing by 8.6%

The update of net borrowing figures of Great Britain’s public sector, excluding banks, revealed a gap of £6.9 billion for last month. The report published on Friday by the Office for National Statistics showed the volume rose 43.8% on an annual scale, but it came in 90.1% lower than in May, the second month of the financial year. The cumulative rise in the net budget deficit measure grew 8.6% from the same three months of last...

Read More
Gold trades well above 200 –day ma, jump till $1258 likely
Jul19

Gold trades well above 200 –day ma, jump till $1258 likely

Gold jumped till $1244 on account of weak U.S dollar and falling U.S bond yields. The yellow metal formed a minor bottom around $1204 and any minor weakness can be seen only below that level. It is currently trading around $1240. Gold price upside might be limited as ECB has a chance more hawkish monetary policy agenda this week. U.S bond yields shown dip after delay in Trump health care. Technically gold is trading well above major...

Read More
Pound reaches 10-month high versus dollar
Jul18

Pound reaches 10-month high versus dollar

Just before the release of inflation data for Britain on Tuesday, sterling leaped to $1.31265, a level unseen since September 16. The surge comes despite indications prices are rising much faster than wages. The annual inflation rate has reached a four-year high of 2.9% in May, while salaries accelerated just 0.2 percentage points, to grow 2% in the three months through that month. The current appreciation came mostly amid the...

Read More
Gold ticks higher on receded rate hike hopes
Jul17

Gold ticks higher on receded rate hike hopes

Precious metals traded in the green on Monday with gold flirting around the $1,233 mark as investor confidence diminished over lowered hopes of further US Federal Reserve interest rate hikes. Last week’s worse-than-expected inflation and domestic demand data also supported the overall shift towards more safe-haven assets such as gold. Influenced by the same factors, the dollar grew weaker, providing further support for the rise...

Read More