Gold holds on to heavy gains as Fed signals victory in battle against inflation July 14, 2023 Gold markets have consolidated this week's price rally, following encouraging inflation data from the US.
Pound surges to strongest level since April last year as traders bet on further rate hikes July 14, 2023 The pound has surged to its strongest position in over a year over the past week as traders bet the Bank of England will have to hike rates further and faster than global counterparts. Since the beginning of the month, the pound has risen from below $1.27 to trade at over $1.31. The last time [...]
FTSE 100 close: London’s premier index creeps into the green ahead of crucial inflation print on Wednesday July 14, 2023 London’s premier index closed the week slightly in the green after a quiet day ahead of next week’s crucial inflation print. The FTSE 100 slipped out marginal gains to trade at 7,440.65 while the midcap FTSE 250 index dropped 0.2 per cent to 18,594.73. All eyes will be on UK inflation data next week. Inflation [...]
Wall Street winning streak continues as US inflation continues to fall way past UK July 14, 2023 Wall Street’s winning streak barrelled into a fourth day following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 0.8 per cent on Thursday for its highest close since April 2022. The Dow Jones Industrial Average rose 0.1 per cent , and the Nasdaq composite rallied 1.6 per [...]
US regulator investigates ChatGPT maker over potential harm to consumers July 13, 2023 The US Federal Trade Commission has opened an investigation into OpenAI, the maker of ChatGPT, on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, according to an FTC demand for information sent to the company. The move marks the strongest regulatory threat to the Microsoft-backed startup [...]
Regenerate, not degenerate – blockchain’s central role in sustainable finance July 13, 2023 For those hard at work building in the crypto and blockchain sector, a more sustainable future beckons, says Nick Jones of Zumo.
FTSE 100 close: Barclays, NatWest and Lloyds all surge after Bank of England gives clean bill of health to lenders July 12, 2023 London’s FTSE 100 was yanked higher today by Britain’s biggest banks surging after being given a clean bill of health by the Bank of England this morning. The capital’s premier index notched one of its best days in weeks, surging 1.83 per cent to 7,416.10 points, while the domestically-focused mid-cap FTSE 250 index, which is [...]
US inflation slumps to lowest level in more than two years and is now well below UK July 12, 2023 Inflation in the US has slumped to its lowest level in more than two years and is now far below the UK’s rate, official figures out today reveal. American inflation fell to three per cent in June on an annual basis, down from four per cent in the previous month, according to the US Labour [...]
Bitcoin and Ethereum lead the way as most cryptocurrencies see green ahead of CPI figures July 11, 2023 BTC and ETH are inching upwards, both gaining more than 1% this morning, while the rest of the crypto markets reflect investor optimism.
Oil prices up three per cent to nine-week high on supply concerns July 8, 2023 Oil prices climbed about three per cent to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.95, or 2.6 per cent, to settle at $78.47 a barrel, while U.S. West Texas Intermediate crude [...]