EUR/USD remains down around 1.1400 before Eurozone HICP inflation figures
EUR/USD has weakened as the US dollar (USD) rebounds from previous technical corrections. The European Union has cautioned that Trump’s new proposal to double US tariffs on steel and aluminum could jeopardize trade negotiations. The ISM Manufacturing PMI in the US declined from 48.7 in April to 48.5 in May. EUR/USD is showing a downturn […]
Treasury Secretary disputes media warnings about tariffs as inflation decreases
Scott Bescent Discusses Tariffs on CBS “Face the Nation” In a recent interview on “Face the Nation,” Treasury Secretary Scott Bescent addressed concerns regarding the Trump administration’s tariffs on imports. He noted that these tariffs had been cooled to a four-year timeline and emphasized warnings about potential price increases for consumers. Brennan pressed him on […]
Don’t hold Walmart responsible: Trump’s tariffs ensure inflation is unavoidable
Shortly after Walmart announced plans to increase prices due to President Trump’s tariffs on Chinese imports, the company, interestingly, also adopted a phrase from Trump’s blunt social media comments. Trump warned the company, stating, “I’m watching, and your customers will too!!!” However, it’s essential to reflect on the fact that the President’s attempts at price […]
Forecasts for the Japanese Yen and Australian Dollar: Unexpected Inflation in Japan, USD/JPY Declines
Bearish USD/JPY outlook: Recent trade tensions, disappointing housing figures, or dovish comments from the Fed could push USD/JPY down to 142.5. Bullish USD/JPY outlook: Ongoing trade developments, stronger housing data, or hints of hawkishness from the Fed might drive USD/JPY up to 145, possibly reaching the 50-day EMA. For a detailed forecast on USD/JPY, including […]
Klarna’s losses increase as Buy Now Pay Later defaults hit 17% due to inflation.
Klarna Faces Rising Losses as Consumer Loan Defaults Increase Klarna, a significant player in the shopping sector, is experiencing substantial losses as more consumers struggle to repay their loans. Despite expanding its user base in the first quarter, the company reported that its losses have more than doubled compared to last year, with a default […]
Cisco leader states that the European market for AI will improve; UK inflation rises
European stock markets end where they started European stock markets closed the day relatively unchanged, with the Stoxx Europe 600 slipping only 0.04%. In contrast, the FTSE 100 experienced a slight rise of 0.06%, while France’s CAC 40 fell by 0.4%. Germany’s DAX also dropped by 0.3%. On Thursday, companies like EasyJet, British Land, and […]
Inflation Climbs to Its Highest Level in 15 Months as Utility Costs Rise
UK Inflation Rate Hits High in April In April, the UK’s annual inflation rate peaked, primarily driven by rising household energy and water costs, as indicated by new official data released on Wednesday. The consumer price index soared to 3.5% last month, a significant increase from 2.6% in March, according to the National Bureau of […]
Today in Forex: Pound Sterling increases due to strong UK inflation, US Dollar continues to fall
Daily Financial Update – May 21 Here’s what you should know today: The British pound (GBP) has gained traction against other currencies early Wednesday. This comes after the April inflation figures from the UK were released. Meanwhile, the US dollar (USD) is continuing to weaken amidst uncertainties around trade and ongoing political matters. It’s a […]
UK inflation rises unexpectedly to 3.5% due to rising costs
Inflation Increase in April Recent statistics show that inflation climbed to 3.5% in April, largely driven by significant hikes in water bills, energy costs, and council taxes. Additionally, rises in employers’ national insurance contributions and minimum wage adjustments have pressured businesses to increase prices, more than analysts in the city had anticipated. The National Bureau […]
Concerns About Inflation Push Gold Prices Higher – Crude Oil Prices Today
Global precious metal prices have been on the rise. The overall index saw a 5.11% increase, with gold reaching new record highs once again. Palladium remains inactive Palladium has been performing well lately, but some key demand factors are weakening. With U.S. vehicle production slowing, auto manufacturers are increasingly opting for platinum, which is currently […]