Alan Taylor, a renowned economics professor specializing in international economics and financial crises, has been selected to join the Bank of England’s Monetary Policy Committee (MPC), as announced by Britain’s finance ministry. Taylor is currently a professor at Columbia University in New York, with a distinguished career that includes serving as a senior advisor at
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In recent market trends, crude oil prices saw a struggle to surpass the $80.00 resistance zone. Although there was a temporary spike above this level, the bears quickly appeared and pushed prices lower. This was evident on the 4-hour chart of XTI/USD, where the price began a fresh decline from the $80.26 high. As a
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Gold prices experienced a rebound after a post-CPI selloff that initially pushed the precious metal down to around $2438/oz. The unexpected nature of this selloff was surprising to market participants, especially considering that US CPI figures had come in below expectations. This led to a reduction in rate cut expectations, causing a temporary dip in
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The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, marking an increase of 0.36% on the day. This positive movement can be attributed to the improved Chinese July Retail Sales data, which has provided a boost to the Australian Dollar (AUD). The National Bureau of Statistics of China reported that China’s Retail
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The recent data shows that the US Dollar Index (DXY) has been dropping to multi-day lows, hovering around 102.30. This can be attributed to the persisting disinflationary pressures in the US economy. Despite a busy economic calendar ahead, featuring various key data releases and Fed speeches, the Greenback seems to be struggling to gain momentum.
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The AUD/USD currency pair is currently consolidating gains near the 0.6620 zone after experiencing a downside correction from 0.6640 against the US Dollar. The pair managed to clear the 0.6580 resistance and move into a positive zone, with a close above the 0.6600 resistance and the 50-hour simple moving average. However, the pair faced resistance
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