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live commentary Post
Pound Sterling plummets as UK economy approaches recession
By TradeRadius | Thu, 24 Aug 2023 15:13:51 UTC
The Pound Sterling (GBP) witnessed a breakdown of the consolidation formed above 1.2700 as bullish market sentiment failed to neutralize the impact of vulnerable British PMIs reported by S&P Global on Wednesday. The agency reported that factory activities were at their lowest since the pandemic period as firms underutilized their operating capacity due to a bleak demand outlook.
Fears of a recession in the UK economy deepened on Wednesday as warning from Bank of England (BoE) policymakers about significant upside risks to corporate defaults strengthened after the release of vulnerable PMIs. Deepening recession fears are forcing investors to bet on a lower interest rate peak. A poll from Reuters shows that the BoE could pause the rate-tightening spell after an interest rate hike in September.
Daily Digest Market Movers: Pound Sterling falls vertically ahead of Jackson Hole
Technical Analysis: Pound Sterling recovery fades, declines toward 1.2600
Pound Sterling falls back after a solid recovery move as investors await the Jackson Hole Symposium for further action. The Cable recovered sharply on Wednesday after forming a Triple Bottom chart pattern around 1.2613 but investors capitalized the pullback move as a selling opportunity. For a confident bullish reversal, the asset has to overstep the round-level resistance of 1.2800. The Cable is consistently failing to close above the 20 and 50-day Exponential Moving Averages (EMAs).
Partners News
Ceigall India opens bid for IPO on August 1. Check dates, other details
The IPO consists of a fresh issue of shares worth Rs 617.69 crore and an offer for sale (OFS) of up to 1.42 crore shares with a face value of Rs 5 per share. The company has informed that the price band, employee discount and the minimum bid lot will be decided by the company…
By TradeRadius | 17 Minutes Ago
Steve Kornacki breaks down the rules of Olympic Handball | Keeping Score
IE 11 is not supported. For an optimal experience visit our site on another browser. July 26, 202403:14 UP NEXT U.S. swimmer Torri Huske wins the 100m Butterfly Olympic heat race 02:10 Watch riveting moment from USA vs China in Olympic Badminton 01:15
By TradeRadius | 17 Minutes Ago
‘He always managed to play golf’: My husband of 14 years never worked and now we’re divorcing. He wants half of my $1 million home. What can I do?
“I made all the mortgage payments, in addition to paying for health coverage for both of us.”
By TradeRadius | 36 Minutes Ago
Team USA push for first gold medals as Olympic Games kick off
21m ago / 8:45 AM UTC Freddie Clayton For those who caught last night’s opening ceremony, you may have noticed the torrential rain pouring down on Paris. And due to the adverse weather, organizers have pushed back the men’s street skateboarding event originally scheduled to start this morn...
By TradeRadius | 1 Hours Ago
High housing costs hitting record highs, Harvard University report says
Economists predict mortgage rates will remain elevated for the rest of the year and will only begin to fall once the Federal Reserve starts cutting rates. The high cost of housing is making it hard for many Americans to make ends meet, and monthly rents are rising faster than wages, according t...
By TradeRadius | 2 Hours Ago
Custom duty reduction impact: How gold prices may perform in near future
Government has slashed customs duties on gold and silver by 6 percent. The basic customs duty has been reduced to 5 percent from 10 percent, and the Agriculture Infrastructure and Development Cess lowered to 1 percent from 5 percent. This decision will effectively bring down the overall taxes...
By TradeRadius | 2 Hours Ago
Job losses, protests present difficulties for Chinese Communist Party
Job losses and wage cuts from China's economic downturn are hitting key industries, according to the South China Morning Post, and analysts say the situation could lead to political difficulties for the ruling Chinese Communist Party (CCP).
By TradeRadius | 2 Hours Ago
Kamala Harris campaign looks for ‘reset’ with crypto companies
Vice-president’s team aims to improve relations after industry criticism of the Biden administration
By TradeRadius | 3 Hours Ago
Mirae Asset Mutual Fund withdraws temporary suspension in large & mid cap fund
Since the initial restriction in November 2020, which limited SIP investments to Rs 2,500 monthly (later increased to Rs 25,000 in October 2023), Indian equities have experienced substantial growth. The Nifty 50 Total Return Index (TRI) and Nifty Midcap 150 TRI have risen by approximately 1.2...
By TradeRadius | 3 Hours Ago
How equity mutual funds have performed after the Budget?
Two small cap funds - Tata Small Cap Fund and LIC MF Small Cap Fund - offered 3.38% and 3.36% returns respectively in the last week. SBI Consumption Opportunities Fund delivered 3.17% return in the similar time frame.
By TradeRadius | 3 Hours Ago
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