Tag Archives: BoE
Pound Sterling Rises on Strong PMI, eyeing BoE’s next move
Sterling experienced a broad surge on Thursday, fuelled by better-than-expected PMI data, suggesting the UK economy is on course for solid growth in the third quarter. The flash composite output index climbed to a four-month high of 53.4 in August from 52.8 in July, surpassing the forecasted figure of 52.9. The services business activity index […]
Pound Sterling Strengthens on Rebound in Retail Sales
The UK economy received another boost as retail sales rebounded in July, rising by 0.5% month-over-month, after a revised 0.9% decline in June. This positive retails sales data has contributed to a rise in the pound’s value. GBP/USD rose 0.72% last Friday, closed at 1.2940. (GBP/USD Daily Price Chart) The recovery in retail sales can […]
Focus on GBPUSD today – 15th Aug, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBPUSD for Aug 15, 2024. Key Takeaways Technical Analysis Daily Chart Insights 1-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
UK Interest Rates Cut; Financial Stocks Struggle to Resist Selling Pressure
In its August meeting, the Bank of England reduced its Bank Rate by 25 basis points to 5%, aligning with the expectations of a narrow majority of market participants. The cut lowered the benchmark rate from its 16-year high, where it had remained for a full year. The Monetary Policy Committee (MPC) described the decision […]
Focus on GBPUSD today – 2nd AUG 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBPUSD for AUG 2 2024. Key Takeaways Technical Analysis Daily Chart Insights H1 Chart Insights Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Focus on GBPUSD today – 25th June, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBPUSD for June 25, 2024. Key Takeaways Technical Analysis Daily Chart Insights 4-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
UK Inflation Hits 2% Target, Bank of England Maintains Interest Rates
In May, the annual rate of inflation in the United Kingdom dropped to the 2% level that the central bank aims for, meeting the expectations of financial analysts. Additionally, the core inflation rate, which removes the volatile food and energy prices to give a clearer view of inflationary trends, decreased from 3.9% to 3.5%, aligning […]
Focus on GBPUSD today – 20th June, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBPUSD for June 20, 2024. Key Takeaways Technical Analysis Daily Chart Insights 4-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
FTSE 100 Hits New Record as Bank of England Signals Potential Rate Cut
On the 9th of May, the Bank of England held the main bank rate steady at 5.25%, which hasn’t been this high since 2008 and was anticipated. Yet, two of the committee’s members were in favor of a 0.25 percentage point cut, an increase from the solitary member at the last meeting. Additionally, while they […]
