Goldman Sachs Forecasts BoE to Raise Interest Rates in May 2022

Citing the week’s stronger-than-anticipated UK employment data, Goldman Sachs has pushed back the date when the Bank of England is likely to increase benchmark rates by over a year. “Latest stats on the UK labor market have been better than

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Hopes of Australian Economic Rebound Fades as Iron Ore Price Hits New Yearly Lows

Iron ore prices dropped dramatically, down to around $110 (Tianjin delivery) a tonne after falling from a record high of $230 in May to about $110 a tonne. The dip in iron ore prices comes as China, the world’s largest

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Aussie Declines as the RBA Expects GDP to Shrink Sharply in Q3

The AUDUSD currency pair fell 0.0023, or 0.31%, to 0.7345 on Tuesday, September 14, from 0.7367 the preceding trading period, as the Reserve Bank of Australia (RBA) maintained the cash rate largely untouched at a historic low of 0.1% during

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Pound Weakens as Global Financial Market Sentiment Deteriorates

A sharp downturn in global market mood prior to the weekend fueled demand for safe-haven assets at the cost of the British pound. The Pound had been rising versus the Euro and the Dollar, but reports that the US will

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Russian Ruble Likely to Hit 75.76 Against Greenback as Rate Hike Misses Expectations

The Central Bank of Russia increased its benchmark interest rate by 25 basis points to 6.75%, despite market expectations for a larger 50 basis point increase, stating that the balance of threats for inflation is sloped to the plus side

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Eurodollar Declines to $1.18 as Investors Await ECB Policy Meeting

The euro dollar fell to $1.18 after climbing over $1.19 for the foremost time after June 30th. ingnvestors are waiting for the European Central Bank’s policy meeting tomorrow to see if the bank will start reducing its bond-buying initiative after

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Euro Hits 2-Month High on Calls for Tapering Bond Purchases by ECB Governing Council Member

Friday’s lackluster US employment data helped the euro rise over $1.19 for the foremost time since June 30th. In addition, there are indications that the European Central Bank may begin discussing reducing its extraordinary bond-buying program. Inflation in the eurozone

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Canadian Dollar Under Selling Pressure as Economy Continues to Slide

The Canadian Dollar fell to the bottom of the main currency performance chart on Tuesday, boosting GBP/CAD and USD/CAD in the way, as Statistics Canada indicated that the economy disappointed growth forecasts in the previous quarter and also at the

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New Zealand Dollar Rebounds as Market Shifts to Risk-On Sentiment

The Kiwi dollar gained ground Friday to hit $0.70, from $0.68 in early August as investors swirled away from the greenback after the Fed Chair Powell asserted that a decline in bond purchases will not result in a simultaneous rise

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Russian Ruble Strengthens On Crude Recovery & Rate Hike

The Russian ruble strengthened over the 74 mark versus the US dollar, aided by a rebound in crude prices and a significant rise in the central bank’s benchmark rate in July. After a 7.7% drop last week, reflecting the worst

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