The GBPUSD pair jumped on Thursday after the Bank of England (BOE) delivered a relatively hawkish interest rate decision. The pair rose to 1.3750, which was 1% above this week’s low of 1.3610. BOE interest rate decision This was a central bank week as multiple banks met and delivered their interest rate decisions. Among them were the BOE, Federal Reserve, Norges … [Read more...] about GBPUSD Forecast as UK Stagflation Fears Emerge
Forex News
Household Net Worth Breaches $140-Trillion Level in the Second Quarter
Source: Federal Reserve Household net worth continued to climb in the second quarter of the year to breach the $140-trillion level for the first time. DXY is up 0.27% Household and nonprofit net worth jumped to $141.668 trillion in the second quarter of the year, up from $135.818 trillion the previous quarter and $118.491 million the previous year.Corporate equities — … [Read more...] about Household Net Worth Breaches $140-Trillion Level in the Second Quarter
Japan Inflation Flat in August, Snaps 12-Month Decline
Source: Reuters Japan’s inflation was unchanged year-on-year in August, following 12 straight months of declines. EWJ is down 0.36% Inflation was unchanged, marking the first time that core prices escaped negative territory since July 2020.Higher energy costs were offset by lower mobile phone fees, while lodging prices surged 46.6% after a tourism campaign discount the … [Read more...] about Japan Inflation Flat in August, Snaps 12-Month Decline
Japan Private Sector Contraction Continues in September, But Up from August
Source: IHS Markit Japan’s private sector activity continued to contract in September, even as the latest figures indicate an improvement from the previous month. EWJ is down 0.36% premarket. The Flash Composite index stood at 47.7 in September, below the 50.0 threshold that separates expansion and contraction. This compares with 45.5 in August.The Services Business … [Read more...] about Japan Private Sector Contraction Continues in September, But Up from August
US Business Cycle Index Climbs Higher in August
Source: The Conference Board The Conference Board Leading Economic Index, which measures US business cycles, expanded at a faster rate in August to extend the upward trajectory. The Leading Economic Index stood at 117.1, marking a 0.9% growth from 116.0 the previous month. This is faster than the 0.8% growth in July and 0.6% in June.The Coincident Economic Index jumped by … [Read more...] about US Business Cycle Index Climbs Higher in August
