The pound sterling (GBP) exchange rate against the US dollar (USD) has continued to weaken for the fifth consecutive day and is now trading around 1.3340 in the Asian session on Thursday (October 23rd) morning. Pressure on the pound increased due to the strengthening of the US dollar amid growing market concerns ahead of the…
EU leaders met in Brussels to discuss new sanctions against Russia and plans to use frozen Russian assets in Europe to fund Ukraine’s war effort and economic recovery over the next two years. Ukrainian President Volodymyr Zelenskyy also participated in the meeting, urging an immediate ceasefire after nearly four years of war. The meeting came…
Oil prices rose around 2.5% after the US imposed sanctions on Rosneft and Lukoil related to the Ukraine war. Brent was at $64.15 (+$1.56) and WTI at $60.03 (+$1.53) at 03:03 GMT. The rise was also aided by data showing a surprising drop in US inventories. Key point: the market immediately reacted to supply risks….
The Australian Dollar (AUD) weakened against the US Dollar ahead of the release of highly anticipated US inflation data for September on Friday. Markets were also cautious following the surprising Australian employment data, which saw the unemployment rate rise to its highest level in nearly four years. This caused the probability of an interest rate…
Gold prices fell slightly below $4,100 per ounce in European trading Thursday morning, as investors took profits after significant gains in recent weeks. Optimism about easing trade tensions between the United States (US) and China prompted market participants to sell gold to lock in profits. At the same time, demand for the US dollar has…
