GBP/USD Slides after US Inflation Surprise & UK Wage Data
The pair pulled back from its 2024 highs as US inflation came in hotter than expected on Tuesday and UK wage growth eased, with the rate decisions by both CBs due next week
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
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The pair pulled back from its 2024 highs as US inflation came in hotter than expected on Tuesday and UK wage growth eased, with the rate decisions by both CBs due next week
The pace of pay increases slowed further according to today’s data, helping the pair, ahead of next week’s UK inflation and BoE decision
HKG33 makes a strong start to the week helped by Chinese inflation pickup and Xiaomi’s jump after announcing deliveries of its first EV within the month
Comcast’s Universal got the most awards in Sunday’s Oscar ceremony with Oppenheimer, Disney’s Searchlight followed with Poor Things, Netflix , Warner and Amazon got just one accolade, while Apple won nothing
The tech giant is having a tough year, as it has not responded to the AI progress of its rivals and its lack of innovation hurts its growth, which in turn creates headwinds for the stock
The EV startup unveiled three impressive smaller and more affordable electric vehicles, which will be crucial for its future and the expansion of its customer base
The pair extends its correction to key tech levels as Mr Powell remarks maintained expectations for cuts, while markets are coming to grips with prospects of an end to BoJ’s negative rates
NGAS post a recovery this week, as major drillers slash production outlook and the International Energy Agency forecasts an acceleration in demand
The commodity could not benefit from the OPEC+ supply cuts extension and faces pressure today as China’s economic targets fail to impress
OPEC and allies led by Russia agreed to rollover their recent additional 2.2 mbpd of cuts into the second quarter of the year to support oil prices
A year after the SVB collapse, NYCB sustains fears around regional banks after disclosing “material weaknesses” in its internal controls, not long after it had posted a surprising Q4 net loss
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