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.
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).
prices are back on the rise as a global supply shortfall is becoming more evident and the International Energy Agency (IEA) is once again claiming that the web can be okay if we just stop investing in fossil fuels. Of course, the IEA’s past predictions of supply and demand have been way off and ...
In the face of prolonged strikes, some smaller suppliers are cutting workers or announcing plans to do so.
Martyn Beauchamp is set to be named interim chief executive of the Financial Services Compensation Scheme
U.S. stocks opened higher Wednesday, finding supprort as Treasury yields pulled back and the Dow Jones Industrial Average attempted to recover from its worst one-day percentage loss since March. The Dow DJIA, -0.07% was up 47 points, or 0.1%, at 33,666. The S&P 500 SPX, +0.10% rose 0.4%, while...
JPMorgan Chase & Co. JPM, +0.43% said Wednesday it won a competitive process to provide account validation services for the U.S. Treasury Department under a financial agency agreement for a minimum of five years. Terms of the deal were not disclosed in a statement by the bank. The U.S. Treasury...
Technical signals suggesting the market is oversold aren't enough to confidently buy the dip, according to Canaccord Genuity.
Sixteen years ago, Madeline-Michelle Carthen was preparing for a summer internship in Ghana after she was accepted into Webster University's intern exchange program when she received shocking news: her social security number was associated with a deceased person.
Since my last remain extremely volatile amid concerns over the supply and demand mismatch, but the overall tone has been bullish. In the 4-hour chart, the natural gas futures have found a strong base at $2.858 after consolidating at $2.676, as I predicted in my last analysis.
Ruben Vardanyan’s detention comes as Baku steps up hunt for leaders of the former breakaway state