Prime Minister Rishi Sunak pledged to cut 17 billion pounds ($21.7 billion) of taxes for working people if re-elected, launching a final throw of the dice to overturn polls that put him on course for a heavy defeat in Britain’s July 4 election.
“We note the dollar has ended lower on the day after the last four consecutive FOMC meetings – largely on the back of Chair Jerome Powell’s dovish rhetoric at the press conference,” said analysts at ING, in a note.
Oil prices were largely steady on Tuesday, as investors waited for U.S. and China inflation data and the outcome of the Federal Reserve’s policy meeting to see how changing prices could hit demand.
Markets immediately reduced the probability of a 25-basis point Federal Reserve rate cut in September to 60% from 85%, leading to a decline in risk assets, including cryptocurrencies.
The best performers of the session on the Tadawul All Share were Miahona Holding SCJSC (TADAWUL:2084), which rose 10.00% or 1.88 points to trade at 20.68 at the close. Meanwhile, Fawaz Abdulaziz AlHokair Company (TADAWUL:4240) added 9.35% or 0.76 points to end at 8.89 and Saudi Chemical Company (TADAWUL:2230) was up 8.63% or 0.88 points to 11.08 in late…
