US Manufacturing Index Hits Two-year Low in June
In the European session on Friday, the US dollar rose versus its main rivals as European markets sank on increasing concerns of a recession in the aftermath of a speedier policy tightening by major central banks to combat skyrocketing inflation.
Read MoreUK Inflation Hits 40-Yr High of 9.10% in May
As a result of higher costs for energy and food, consumer prices in the United Kingdom increased further in May at the quickest rate in forty years, significantly aggravating the nation’s affordability issue. According to statistics that were released by
Read MoreRuble Strengthens on Bank of Russia Rate Cut & Surge in Commodity Prices
The Russian ruble plummeted to historical lows on February 28, 2022, and residents of the country started withdrawing cash, leading to what is referred to as a ‘bank run.’ During that period, Russia was slapped with a plethora of financial
Read MoreDollar Strengthens as Employment Data Boosts Prospects Of Further Rate Hikes
The US dollar rallied against its rivals on Friday as economic data reflected better-than-anticipated rise in the US non-farm payrolls, boosting prospects of further tightening of monetary policy by the Federal Reserve. The Labor Department’s data indicated that non-farm payroll
Read MoreDollar Turns Weak Against Rivals, But Euro is Unable to Take Advantage
The greenback lost ground against its peers on Friday, continuing its recent downtrend, against the backdrop of worries about interest rate increases, and data reflecting a slowdown in the rate of consumer price growth in April. The dollar index fell
Read MorePound Strengthens on Unexpected Rise in the UK Retail Sales in April
The pound gained ground against its peers Friday following the release of better-than-anticipated economic data. According to the ONS, the country’s retail sales volumes grew by 1.40% in April 2022 following a decline of 1.20% in March, and better than
Read MoreEuro Continues its Losing Streak as Gas Prices Surge
The Eurodollar continued its downtrend last week against the backdrop of another sharp rise in natural gas prices, aided by reports of Russia initiating new steps to turn off the taps to Europe. The Eurodollar declined fell to its major
Read MorePound Remains Weak Despite the Recent Decline
The pound lost considerable ground against the euro, the US dollar, and other top currencies in the week that ended and analysts stated that additional losses are likely in the week ahead even though a short-term rebound cannot be brushed
Read MoreEuro Remains Under Pressure as Russia Stops Gas Supply to Bloc
The GBP/EUR currency pair exchange rate has been consolidating as economic concerns of investors shift from the UK to the Eurozone following a reduction in the flow of Russian gas supplies to the bloc and against the backdrop of worries
Read MoreEuro Eclipses Pound as UK Witnesses Series of Poor Economic Data
The British Pound has fallen dramatically versus the Euro and the US Dollar after a series of dismal economic data readings. It is possible that economic growth in the UK may drop significantly since consumer confidence in the country has
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