The Bank of England could cut interest rates in the next few months, depending on how rapidly the knock-on impact on wage growth and prices from 2022’s surge in inflation eases, Deputy Governor Ben Broadbent said on Monday.
The dollar was broadly steady on Monday as investors awaited further clues to help chart the path of U.S. interest rates in the wake of cautious comments from Federal Reserve officials, even as inflation showed signs of cooling.
Oil prices slipped lower Monday, handing back early gains after the confirmation of the death of Iran’s President in a helicopter crash. At 08:30 ET (12:30 GMT), Brent oil futures fell 0.5% to $83.53 a barrel, while West Texas Intermediate crude futures dropped 0.6% to $79.10 a barrel.
Bitcoin price moved little on Monday after rebounding over the weekend, although the token still remained rangebound amid persistent caution over the outlook for U.S. interest rates.
JPMorgan (JPM) shares are rising premarket Monday, currently up 0.8%, after the company reportedly increased its 2024 net interest income (NII) forecast to $91 billion, excluding the markets division.
China said on Thursday that U.S. and European assertions of excess capacity were “naked trade protectionism” and that efforts to constrain new energy exports from the World’s No.2 economy would frustrate global efforts to tackle climate change.
The shekel had briefly surpassed the 3.80 level against the dollar due to recent tensions between Iran and Israel, as well as the ongoing conflict with Hamas. UBS analysts expect these pressures to ease, setting the stage for the shekel to capitalize on Israel’s economic rebound and the prudent policies of the Bank of Israel…
Oil prices rose on Thursday, extending gains from the prior session on signs of stronger demand in the U.S., the world’s largest consumer. 11:15 ET (15:15 GMT), Brent oil futures rose 0.3% to $83.03 a barrel, and West Texas Intermediate crude futures rose 0.6% to $79.06 a barrel.
Bitcoin price jumped on Thursday, benefiting from a weaker dollar after some relatively softer consumer inflation readings for April, although the token remained comfortably rangebound as sentiment towards crypto remained subdued.
Germany stocks were mixed after the close on Thursday, as gains in the Retail, Software and Food & Beverages sectors led shares higher while losses in the Industrials, Construction and Technology sectors led shares lower.
