Business, Stock markets, Currencies, Commodities Business | The Guardian
Sterling boosted by UK growth data and weaker dollar; Graphcore once touted as rival to Nvidia but has struggled to secure investmentOil prices are rising today after signs of easing inflationary pressures in the United States, the world’s biggest oil consumer, although Brent crude, the global benchmark, is on track for a weekly decline.Brent crude futures rose by 51 cents, or 0.6%, to $85.91 a barrel. US West Texas intermediate crude futures climbed by 59 cents, or 0.7%, to $83.21 a barrel.Cooling US inflation numbers may support the case for the Fed to kickstart its policy easing process earlier rather than later, but it also adds to the series of downside surprises in US economic data, which points to a clear weakening of the US economy.The British pound has maintained its bullish bias since the UK election build-up. The fact that the election seemed so easy and straightforward has given investors a vote of confidence in UK assets, especially at a time when there is quite a bit of political instability worldwide. That’s not to say that the new Labour government will not face challenges up ahead, but for now, the political landscape seems a lot calmer than France.Sterling-dollar has also been taking advantage of a weaker US dollar. The pair has been building the gains day after day. Continue reading…
Sterling boosted by UK growth data and weaker dollar; Graphcore once touted as rival to Nvidia but has struggled to secure investment
Oil prices are rising today after signs of easing inflationary pressures in the United States, the world’s biggest oil consumer, although Brent crude, the global benchmark, is on track for a weekly decline.
Brent crude futures rose by 51 cents, or 0.6%, to $85.91 a barrel. US West Texas intermediate crude futures climbed by 59 cents, or 0.7%, to $83.21 a barrel.
Cooling US inflation numbers may support the case for the Fed to kickstart its policy easing process earlier rather than later, but it also adds to the series of downside surprises in US economic data, which points to a clear weakening of the US economy.
The British pound has maintained its bullish bias since the UK election build-up. The fact that the election seemed so easy and straightforward has given investors a vote of confidence in UK assets, especially at a time when there is quite a bit of political instability worldwide. That’s not to say that the new Labour government will not face challenges up ahead, but for now, the political landscape seems a lot calmer than France.
Sterling-dollar has also been taking advantage of a weaker US dollar. The pair has been building the gains day after day.
