GBP/USD Threatens Key Support after UK Services Sector Contraction
The pair extends this month’s fall and threatens critical support, amidst broader USD strength and the contraction of the UK’s services sector in August
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The pair extends this month’s fall and threatens critical support, amidst broader USD strength and the contraction of the UK’s services sector in August
The Reserve Bank of Australia kept rates unchanged for third straight meeting and last under current Governor Lowe, but once again did not shut the door on further tightening
Country Garden’s default warning aggravated concerns over China’s property sector, but authorities announced action to lower mortgages, helping copper prices
HKG33 falls today as China’s factory activity contracted for fifth straight month and troubled property developer Country Garden warned of default, after massive H1 loss
The pair hit new 2023 lows after poor preliminary PMIs from Europe, but the subsequent UK prints sent it higher, as markets contemplate their impact on monetary policy outlook
This week’s data from the UK showed that headline inflation eased further in July, but remains far from target and that wages increased further, keeping pressure on BoE for further monetary tightening
China’s consumer inflation fell to negative territory as today’s data showed, but Copper rises on hopes for further stimulus by authorities
Consumer inflation fell to negative territory in July, for the first time in more than two years, aggravating fears over the recovery of the world’s second largest economy
Today’s Q2 labor report showed an increase in unemployment, which could help the bank stay in the sidelines after last month’s pause, sending the Kiwi lower
Chinese factory activity contracted for fourth straight month, suppressing USOIL today, but heads towards it best month in over a year as authorities have pledged stimulus measure
Core PCE came in at 4.1% y/y. This was lower than the 4.2% expected and lower than the previous print of 4.6%. This is the lowest annual rate since September 2021. On a monthly basis core PCE came in at 0.2%, which is 2.4% annualised.
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