The ease of travel restrictions between the UK and US will see an exchange of 9.5 million visitors.The US CPI index also rose 0.81% to 269.20 from 267.05, beating estimates at 268.47. The UK's recovery is dependent on complete reopening in June 2021. The GBP/USD pair traded at a +0.42% change on June 10, 2021, from the previous day. It hit a high of 1.4177 after opening … [Read more...] about GBP/USD: Pound Trades Higher On Services Forecast and US Trade-Deal Hopes
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Oil Demand to Hit Pre-Pandemic Levels in 2022, Says IEA. Unequal Recovery Possible Due to COVID Resurgence
The International Energy Agency forecasts global oil demand in 2022 to reach levels before the pandemic hit. Source: Markets Insider The IEA expects global demand to grow 3.1 million barrels per day to reach 100.6 million bpd in 2022. Growth for 2021 is 5.4 million bpd.The IEA believes recovery will not be even as the pandemic continues to hit countries with slower … [Read more...] about Oil Demand to Hit Pre-Pandemic Levels in 2022, Says IEA. Unequal Recovery Possible Due to COVID Resurgence
Turkish Lira Advances on Hopes of Missile Spat Resolution
Source: Bloomberg Turkey's lira strengthened on Thursday to its best showing in a month after a top official welcomed a possible resolution to the conflict with the United States. The lira strengthened by as much as 1.7% to hit 8.2860 against the greenback.Weekly gains rose to 4.4% to mark the best weekly performance since March but lost ground later.Defense Minister … [Read more...] about Turkish Lira Advances on Hopes of Missile Spat Resolution
U.K. Economy Hits Nine-Month High in April
Source: Office for National Statistics The United Kingdom gross domestic product posted a nine-month high in April, as more businesses reopened amid the easing of government restrictions due to the COVID-19 pandemic. GDP grew by 2.4% in April to mark the fastest monthly growth since July 2020.Services climbed 3.4% on the back of the 12.7% growth in consumer facing … [Read more...] about U.K. Economy Hits Nine-Month High in April
Inflation Zooms to Highest in Nearly 13 Years
Source: US Labor Department U.S. headline inflation accelerated to 5% in May to reach its highest level in over 12 years. The all items index recorded its biggest year-on-year growth since inflation clocked in at 5.4% in August 2008.Inflation has been on an uptrend since January's reading of 1.4%.Core inflation for the month came in at 3.8%, the highest in 28 years since … [Read more...] about Inflation Zooms to Highest in Nearly 13 Years
