AI-powered tools are changing the world! Obviously, for the better. They are transforming many aspects of our lives, from helping to draft an email to giving recipes, helping us navigate fashion trends, and often resolving financial intricacies. They have become the core of our daily routine, making it easy and letting us enjoy ourselves while […]
GBP/JPY climbed to 192.10 as the Bank of Japan (BoJ) kept the interest rate the same and softened the growth rate forecast for the Japanese Yen (JPY). At May’s policy meeting, BoJ board members unanimously agreed to keep the short-term policy rate unchanged in the range of 0.0% to 0.5%, considering the impact of trade […]
GBP/USD hovered near 1.3386 as investors braced for the US Core Personal Consumption Expenditures (PCE) Price Index, a preferred inflation gauge for the Federal Reserve. Moreover, softer-than-expected US JOLTS Job Openings data and a sharp drop in Consumer Confidence, despite ongoing uncertainty surrounding US trade negotiations, strengthened the US dollar. The US Bureau of Labour […]
EUR/GBP fluctuated near 0.8558 after the release of the primary reading of the Purchasing Managers’ Index (PMI) from the UK and the Eurozone for April. The HCOB’s latest Purchasing Managers’ Index (PMI) survey revealed that the Eurozone’s manufacturing sector stayed in contraction. The Eurozone Manufacturing Purchasing Managers’ Index (PMI) improved to 48.7 in April, up […]
The dollar index skyrockets in reaction to the hawkish stance of the US Fed. Have you seen such headlines in front of the newspaper? Well, we all know that the central bank and its monetary policy play an important role in the economic governance of a country. The central banks, such as the Bank of […]
In today’s globalised economy, businesses of all sizes are increasingly engaged in international trade, dealing with customers, suppliers, and partners across multiple countries. However, managing transactions in multiple currencies can be both financially burdensome and operationally complex. Multi-currency accounts (MCAs) offer a strategic solution by enabling businesses to hold, receive, and send money in various […]
EUR/GBP weakened to 0.8593 as investors braced for the European Central Bank (ECB) interest rate decision. The market speculates that the ECB will reduce its key borrowing rates by 25 basis points (bps), pushing the Deposit Facility Rate and the Main Refinancing Operations Rate lower to 2.25% and 2.4%, respectively. Wednesday’s final readings from Eurostat […]
In today’s meeting, the European Central Bank has introduced another 25 bps rate cut, marking its sixth consecutive interest rate cut. The Deposit Facility Rate and the Main Refinancing Operations Rate were lowered to 2.25% and 2.4%, matching the market expectations. The interest rate decision failed to provoke a drastic market reaction, as investors anticipated […]
GBP/USD fluctuated near 1.3284 following the softer-than-expected UK consumer inflation data release for March. The Office for National Statistics (ONS) reported that the headline CPI grew at a moderate pace of 2.6% year-on-year, compared to estimates of 2.7% and the February reading of 2.8%. In the same period, the core CPI, which excludes volatile items […]
EUR/GBP fell to around 0.8590 as the robust UK employment data supported the sterling. On Tuesday, the Office for National Statistics (ONS) reported that the ILO Unemployment Rate remained steady at 4.4% in the three months to February, matching the market forecast. Additional details in the report revealed that the number of people claiming jobless […]
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