The US Parties Lead the Country to a Default
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
Decelerating British services surge raises questions over BoE rate lift
In July, a surge in UK services companies speeded down by much more than anticipated, thus raising questions as for the BoE’s intention to have interest rates lifted, according to a poll uncovered on Friday.
In July, a closely-watched indicator of economic activity, the PMI index slumped to a three-month minimum of 53.5 in contrast with June’s outcome of 55.1.
Although staying above the 50 mark that stands for a surge, July's score turned out to be weaker than all estimates in a Reuters survey of more than 30 market experts.
A number of companies in the poll attributed the deceleration to a summer heatwave as well as the soccer World Cup that kept British customers away from their businesses.
There were also indications that uncertainty as for Brexit had restrained new business.
The poll showed up just a day after Britain’s key financial institution had interest rates increased to a fresh post-financial downtime maximum of 0.75% due to the fact it took the view that the UK economy had managed to recover momentum after a poor start to 2018 provoked by unusually bad weather.
UK business groups heavily criticized the given decision, and Friday's PMI can hardly soothe their worries.
In July, the service sector got back to the slow tempo due to the fact that business activity surge lost momentum for the first time since the beginning of spring, as some financial analysts pointed out.
In July, services companies hired personnel at the weakest tempo for two years.
Tight labor market conditions, as well as soaring wage pressures, also appear to be a major challenge for UK service sector companies that c since August 2016 contributed to the slowest tempo of job creation.
The Bank of England has told it actually expects wages to edge up faster, thus ramping up inflationary pressure.
Similar
The Sentiment is Bearish for the EUR
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
Latest news
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
