Sun and World Cup helped some UK businesses as economy grew in April to June
An added boost from summer sun and sports fixtures for some businesses helped the UK economy to grow by 0.4% between April and June, according to official data.
Economy
Victims of road crime feel ‘forgotten by system’, official review finds
Bereaved families or seriously injured victims of road crime feel “forgotten by the system” with offences not treated with the seriousness they deserve, an official review has found.
US Dollar: Fed-driven hedge rebuilding revives selling pressure – BNY
BNY’s Geoff Yu argues that the July Fed meeting marked a peak in Dollar dehedging rather than an end to U.S. exceptionalism. Cross-border investors are rebuilding USD hedges, reducing effective unhedged U.S. exposure wh…
Gold: Upside capped by Fed hike risks – TD Securities
TD Securities’ Bart Melek notes Gold extended gains after the July Consumer Price Index (CPI) matched expectations, reinforcing a dovish narrative around Fed Chair Warsh. With prices near $4,434/oz and resistance just b…
Indonesian Rupiah remains subdued as safe-haven demand lifts US Dollar
USD/IDR gains ground for the third consecutive day, trading around 17,920 during the early European hours on Thursday. The pair appreciates as the US Dollar (USD) recovers its daily losses amid escalating geopolitical t…
UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather – business live
Across Europe stock markets are mostly doing better than the FTSE 100 in London.
Canadian Dollar extends pullback from two-month high as oil-driven Fed hike bets lift USD
The USD/CAD pair builds on the previous day's bounce from the 1.3900 neighborhood, or a two-month low, and gains follow-through positive traction for the second straight day on Thursday. The momentum lifts spot prices t…
Commodities: Weaker Dollar lacks growth catalyst – BNY
Geoff Yu at BNY says a less hawkish Fed has weakened the Dollar, but this has not translated into a broad commodity rally. Institutional investors remain sellers of metals and miners, while EM commodity sovereign debt c…
GBP/JPY Price Forecast: 50-day SMA caps sideways trading
The GBP/JPY holds firm on Wednesday at around 215.00, as neither buyers nor sellers are reluctant to open fresh directional bets amid fears of renewed intervention in the FX markets by US and Japanese authorities to pro…
Pound Sterling runs out of room at the July high
Sterling spent the London morning building a case for a break and the rest of the session dismantling it, trading near 1.3495 after a high just short of 1.3550 and a loss of not quite a tenth of a percent. The mid-July …
RBA's Kent: Cash rate hikes are achieving their intended impact
Reserve Bank of Australia (RBA) Assistant Governor Chris Kent said on Thursday that interest rate hikes are producing the expected effect.
Iran says no progress on interim peace deal with US — Reuters
The United States (US) and Iran remain at loggerheads over efforts to agree a permanent end to the war in the Middle East, Reuters reported on Wednesday. A senior Iranian source said that there had been no progress in …
Gold edges lower to near $4,400 as Iran-US tensions counter support from tame US inflation
Gold price (XAU/USD) declines to around $4,400 during the early Asian session on Thursday, pressured by escalating geopolitical tensions between the United States (US) and Iran. However, the potential downside for the p…
The Japanese Yen gives back half of what Tokyo bought
The Dollar has spent Wednesday grinding higher against the Yen with no headline to carry it, trading near 159.50 after a low just beneath 158.60 and a gain of under a tenth of a percent. Close to two Yen have been added…
Why Japanese firms are being so slow to use AI
Facing acute labour shortages, ageing demographics and chronic productivity problems, Japanese companies should be fertile ground for the take-up of artificial intelligence (AI). Yet, compared with the US and UK, adopti…
Indonesia: BI succession supports Rupiah stability – DBS
DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor. She stresses that an experienced…
Greenland forces Trump-linked US oil firm to delay drilling
Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president’s envoy that Americans could be extracting crude by nex…
WTI holds firm as Strait of Hormuz concerns outweigh sharp US inventory build
West Texas Intermediate (WTI) Oil trades in a narrow range on Wednesday as traders weigh a sharp rise in US crude inventories against persistent supply risks in the Middle East. At the time of writing, WTI trades around…
Discord ordered to suspend livestreams in Brazil
Brazil's data protection authority (ANPD) has ordered Discord to suspend its livestreaming feature after a teenage girl was allegedly encouraged to take her own life in a broadcast on the platform.
US inflation eases as food and fuel costs cool
US prices rose 3.4% in the year to July, slightly lower than the 3.5% in the year to June, new figures show.
New Zealand Dollar struggles as political uncertainty overshadows US inflation
NZD/USD retreats to around 0.5865 on Wednesday at the time of writing, down 0.25% on the day. The New Zealand Dollar (NZD) remains under pressure against the US Dollar (USD), while inflation data from the United States …
Cooler inflation buys the Dow Jones Industrial Average nothing
The July Consumer Price Index (CPI) landed at 12:30 GMT on every line the consensus had written for it, and the Dow Jones Industrial Average (DJIA) has spent the hours since handing back the few minutes of enthusiasm th…
Trump sued over Truth Social's $100,000 early access service
Donald Trump is being sued by two US media groups over a new Truth Social service that charges up to $100,000 a month for early access to his posts.
British Pound holds near 1.3500 as CPI relief meets Hormuz risk
The Pound Sterling (GBP) holds firm within familiar levels on Wednesday after the US inflation report was in line with estimates, a relief for the Federal Reserve (Fed), which is laser-focused on tackling higher prices.…