Monthly Archives: August 2024
41654156156Pound Sterling Gains Following Positive UK Data
Written on August 16, 2024 at 2:05 am, by pumarketings
Fundamental Analysis * Upbeat Data: The pound sterling gained against the dollar following positive U.K. data. Reports indicate that the U.K. economy grew as expected in the second quarter, with GDP increasing by 0.6% quarter-on-quarter and 0.9% year-on-year. The annual GDP growth figures showed a strong recovery from the previous 0.3% reading. Additionally, U.K. ManufacturingContinue Reading
Wall Street Rally on Soft CPI
Written on August 15, 2024 at 5:18 am, by pumarketings
Market Summary The most anticipated economic indicator of the week, the U.S. Consumer Price Index (CPI), was released yesterday, coming in at 2.9%, below the 3% threshold and in line with the Producer Price Index (PPI) data from the previous day. This further sign of easing inflationary pressure in the U.S. has heightened expectations thatContinue Reading
Gold Price Slips Following U.S CPI Data
Written on August 15, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Gold Slide: Gold prices which trading against the greenback have edged lower as markets absorbed the U.S. inflation data released on Wednesday. The Labor Department reported that U.S. inflation in July met expectations, with the headline Consumer Price Index (CPI) rising 0.2% month-over-month, resulting in a 2.9% annual inflation rate. The coreContinue Reading
