British Pound (GBP) Latest – GBP/USD Boosted by Positive UK PMIs, Weak US Dollar

The latest UK S&P PMIs suggest that the economy is growing by 0.2-0.3% in Q1 2024, confirming the BoE’s view that the UK’s recession is likely to be short-lived.

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German PMI Data Slumps after Decent Run, Broader EU PMI Data Mixed

Thursday’s PMI data was always going to be scrutinized after the Bundesbank signalled the likelihood of a German recession. Forward-looking metrics disappointed

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Crude Oil Heavy As Global Demand Worries Win Out Over Geopolitics

Conflict in Ukraine and Gaza have clouded oil supply prospects but demand is in focus at the moment thanks to higher interest rates and China’s economic woes.

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US Dollar Trims Losses After Fed Minutes Caution Against Premature Rate Cuts

The Fed minutes showed that most officials are wary of cutting interest rates quickly and want to see additional evidence of persistent disinflation before pulling the trigger. This policy stance could benefit the U.S. dollar for now.

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