Disappointing UK Retail Sales Renew Rate Cut Speculation: GBP/USD Outlook
Disappointing UK Retail Sales Renew Rate Cut Speculation: GBP/USD Outlook HG MARKETS: The GBP/USD pair faced mild pressure today, trading around 1.21820 as mixed UK economic data weighed on sentiment. November saw a modest GDP growth of 0.1%, but industrial production dropped by 0.4%, reflecting the continued challenges facing the UK economy. Retail sales also […]
Yen Strengthens on BOJ Remarks, Sterling Stables After CPI,Market Bides forthcoming U.S. CPI Data
Yen Strengthens on BOJ Remarks, Sterling Stables After CPI,Market Bides forthcoming U.S. CPI Data HG MARKETS: The Japanese yen gained strength as speculation increased that the Bank of Japan (BOJ) could raise interest rates at its upcoming meeting. This speculation was fueled by recent comments from key BOJ officials. In particular, BOJ Governor Kazuo Ueda […]
Dollar Gains Momentum before Inflation Data; Sterling Struggles Again
Dollar Gains Momentum before Inflation Data; Sterling Struggles Again HG MARKETS: The US dollar extended its gains on Monday, maintaining elevated levels after stronger-than-expected US payrolls data bolstered sentiment. The Dollar Index, which measures the greenback against a basket of six major currencies, climbed 0.4% to 109.93, marking its highest point since October 2022 after […]
Pound Sterling Under Pressure as UK Gilt Yields Rise
Pound Sterling Under Pressure as UK Gilt Yields Rise HG MARKETS: The Pound Sterling (GBP) continues to struggle against its major counterparts, weighed down by rising UK government borrowing costs. The 30-year UK gilt yields have surged to 5.36%, their highest level since 1998, putting pressure on Chancellor of the Exchequer Rachel Reeves. Investors have […]
WTI Climbs as U.S. Crude Stocks Plummet and China Demand Outlook Brightens
WTI Climbs as U.S. Crude Stocks Plummet and China Demand Outlook Brightens HG MARKETS: Oil prices increased on Wednesday, driven by tightening supplies from Russia and OPEC members, alongside data revealing an unexpected rise in U.S. job openings, signaling robust economic activity and potential growth in oil demand. Brent crude futures rose by 37 cents, […]
Gold Prices Retreat Amid Fed’s Hawkish Stance and Geopolitical Uncertainty
Gold Prices Retreat Amid Fed’s Hawkish Stance and Geopolitical Uncertainty HG MARKETS: Gold prices (XAU/USD) declined for the second consecutive day on Monday, retreating further from the nearly three-week high reached on Friday. Despite an intraday uptick to the $2,647-$2,648 range earlier in the day, the metal faced selling pressure. The Federal Reserve’s hawkish stance, […]
Silver XAG/USD Climbs Up Driven by Increased Safe-Haven Appeal
Silver XAG/USD Climbs Up Driven by Increased Safe-Haven Appeal HG MARKETS: Silver prices (XAG/USD) continued to climb for the third consecutive day, reaching around $30.15 per troy ounce during Asian trading hours on Friday. The ongoing rally is primarily driven by strong safe-haven demand amid ongoing geopolitical tensions, particularly in the Middle East and the […]
Oil Prices Rise on China Optimism & Investors Return from Holidays
Oil Prices Rise on China Optimism & Investors Return from Holidays HG MARKETS: Oil prices rose on Thursday as investors returned to optimism about China’s economy and fuel demand on the first trading day of the new year following President Xi Jinping’s pledge to boost growth. North Sea Brent crude futures rose $1.04, or 1.39 […]
Gold Set for Strongest Year Since 2010 Amid Rate Cuts and Global Tensions
Gold Set for Strongest Year Since 2010 Amid Rate Cuts and Global Tensions HG MARKETS: Gold prices rose on Tuesday, marking the last trading day of a record-breaking year that saw the metal achieve its best annual performance since 2010. This surge was driven by strong central bank buying, geopolitical tensions, and monetary easing by […]
US Dollar Heads for Strong Year-End Performance on High-Rate Outlook
US Dollar Heads for Strong Year-End Performance on High-Rate Outlook HG MARKETS: The U.S. dollar was poised for an annual gain of nearly 7% on Friday, while the Japanese yen faced its fourth consecutive year of depreciation, as traders anticipated strong U.S. economic growth would prompt the Federal Reserve to adopt a cautious approach to […]