FX

GBP/USD trimmed earlier gains nearby the 1.1600 figure on positive US economic data. The US services sector improved while price pressures continued to ease. Kwasi Kwarteng, the so-called new Chancellor in the UK: “Truss government would not blow a hole in public finances.” The GBP/USD tumbled toward its opening price after the US ISM Non-Manufacturing
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GBP/USD prints seven-day downtrend as bears attack the year 2020 bottom. Firmer DXY joins fears of worsening energy crisis to exert downside pressure. Liz Truss’ plan to overcome cost of living crisis gains more accolades than Rishi Sunak’s reasoning. Any recovery on Truss’ selection appears tepid amid US holiday, broad risk-off favoring the greenback. GBP/USD
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The US official employment report showed the US economy added 315K jobs in August, slightly above expectations of 300K; the unemployment rate rose unexpectedly from 3.5% to 3.7%. According to analysts at Wells Fargo, today’s data in isolation tilt the scales toward a 50 basis points interest rate hike at the Fed’s September meeting but
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Asia-Pacific equities track Wall Street’s performance to trade mixed. Markets in Australia, New Zealand print mild gains amid hopes of stimulus from China, receding hawkish central bank bias. Covid woes, Sino-American tussles join pre-NFP anxiety, hawkish Fed bets to weigh on sentiment elsewhere. Asian equities trade mixed on Friday as market players await the US
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