Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD
WhatsApp Telegram LinkedIn Facebook X TikTok Instagram

Sterling falls after BOE's Carney remarks

Economies.com
2019-11-07 19:46PM UTC

The British pound fell against the US dollar today, after the Bank of England rate decision and the bank president Mark Carney's remarks.

 

The Bank of England kept the interest rates at 0.75% unchanged today, in a widely expected move, but left the door open for futures rate cuts.

 

The bank also kept the asset purchase program at £435 billion, which is aimed at supporting the British economy growth.

 

The bank president Mark Carney talked about the Brexit uncertainty and the damages of the US-China trade war and the growing global trade protectionism during a press conference today.

 

Carney stated the BoE is ready to cut interest rates if the British economy saw further growth slowdown.

 

Back to trading, GBP/USD fell by 0.2% to 1.2825 as of 19:44 GMT, the pair hit an intraday high of 1.2878 and a low of 1.2795.

Oil extends gains on trade talks progress

Economies.com
2019-11-07 18:00PM UTC

Oil prices surged during trading today, to extend gains on news about further progress in the US-China trade talks.

 

Several news agencies reported the US and China have agreed to gradually eliminate the tariffs imposed on each other's goods.

 

The Chinese Ministry of Commerce stated that the signing of the first phase trade deal with the US will be held between the countries' presidents likely within next few weeks. 

 

A deal of such between the world's two largest economies is ought pave the way for ending their ongoing trade dispute and tariffs war, and in return support demand on commodities including oil.

 

West Texas Intermediate (WTI) rose by 2.1% to $57.5 a barrel as of  17:40 GMT, with a session-high of $57.8 and a low of $56.2.

 

Brent rose by 1.3% to $62.5 a barrel, with a high of $62.8 and a low of $61.6.

Gold posts lowest finish since early August

Economies.com
2019-11-07 19:15PM UTC

Gold prices fell sharply today as a robust dollar dented the yellow metal safe-haven appeal in favour of stocks and high- yielding currencies.

 

Which came after the Chinese Ministry of Commerce stated that the signing of the first phase trade deal with the US will take place within weeks, in addition to news about further progress in the trade talks. 

 

Several news agencies reported the US and China have agreed to gradually eliminate the tariffs imposed on each other's goods, and a summit between President Trump and Chinese Leader Xi Jinping will take place in December.

 

The US dollar index rose by 0.2% to 98.1 points as of 19:03 GMT, with an intraday high of 98.2 and a low of 97.8.

 

Gold futures for December delivery fell by 1.8% to settle at $1,466.40 an ounce (the lowest level since August 2nd), with a session-high of $1,493.6 and a low of $1,461.4.

Dollar rises on US-China trade deal hopes

Economies.com
2019-11-07 18:41PM UTC

The US dollar rallied against most of major currencies on Thursday, after news emerged that the US and China are close to secure a trade deal.

 

Bloomberg reported the US and China have agreed to gradually eliminate the tariffs imposed on each other's goods.

 

The Chinese Ministry of Commerce stated that signing the first phase trade deal with the US will likely take place within the next few weeks. 

 

The White House stated that the two countries are engaged in intensive calls to choose which country will host the meeting, and will most likely be Switzerland or Sweden.

 

The US labor market continued to show improvement with the unemployment claims data released today showed that claims fell during the last week.

 

The dollar index rose against a basket of currencies by 0.2% to 98.1 points as of 18:30 GMT, with an intraday high of 98.2 and a low of 97.8.

Frequently asked questions

What is the price of GBP/USD today?

The price of GBP/USD is $1.3660 (2025-07-04 03:55AM UTC)