Liz Truss won the race for the leadership of the Conservative Party and will become prime minister of the United Kingdomreplacing Boris Johnson. In her acceptance speech, Truss said she will address long-term energy supply issues and the crisis over high energy bills in homes. “I will rule as a Conservative,” said the next prime […]
Tag: UnitedKingdom
UK: Utilities report record cost rises and are less optimistic about the future
According to the latest data from the Confederation of British Industry (CBI), released during the Asian session on Tuesday, UK utilities have posted record cost increases in the past three months and are dim optimistic about the future as inflation headwinds look set to further reduce demand. Following the release of the data, Charlotte Dendy, […]
UK: We are working hard to develop options for more support on energy bills – Nadhim Zahawi
The UK Chancellor of the Exchequer Nadhim Zahawistated on Friday that “I’m working flat out to develop options for more support on energy bills“. “This will mean that the incoming Prime Minister will be able to get down to business and offer support to those who need it most, as soon as possible,” he added. […]
EUR/GBP could return to the 0.84 area – ING
Sterling rallied briefly on higher money market rates but ended the day weak. The ING economists believe the EUR/GBP could drop back to 0.84. No real signs of fiscal risk in the British pound “We wondered if fears over future Tory Prime Minister Liz Truss’s spending plans were driving up maximum credit values ​​and effectively […]
GBP/USD: Break below 1.2110, opens doors at 1.20 – BBH
The British pound is retreating on Friday in the market, even despite better than expected data from the UK. GBP/USD trades in the 1.2120 zone, according to analysts at Brown Brothers Harriman, the break of 1.2110 could enable a drop towards 1.20. Key Statements: “A break below 1.2110 would test 5th Aug low near 1.20“. […]
Breaking News!: UK Preliminary GDP Contracts 0.1% QoQ in Q2 vs. -0.2% Expected
UK quarterly GDP contracted 0.1% in the second quarter, versus -0.2% expected. UK GDP came in at -0.6%m/m in June vs. -1.3% expected. The British economy contracted 0.1% quarter-on-quarter in the three months to June.compared to the growth of 0.8% registered in the first quarter and the -0.2% expected. In annual terms, UK GDP grew […]
UK: Final services PMI revised down to 52.6 in July vs. 53.3 expected
UK Final Services PMI is revised down to 52.6 in July. GBP/USD keeps its recovery mode intact around 1.2200 after the dismal data. The focus is on US-China tensions over Taiwan and US services PMI data. UK services sector activity expanded less than expected in Julyas confirmed on Wednesday by the final report of IHS […]
UK: Preliminary Services PMI falls to 53.3 in July vs. 53.0 expected
UK Manufacturing PMI falls to 52.2 in July, improves estimates. UK services PMI stands at 53.3 in July, improving forecasts. The UK manufacturing Purchasing Managers’ Index (PMI), seasonally adjusted, fell to 52.2 in Julycompared to the 52.0 expected and the 52.8 of the final reading for June. For its part, the preliminary UK service sector […]
UK: Retail sales fall 0.1% MoM in June vs. -0.3% expected
UK Retail Sales came in at -0.1% MoM in June, improving estimates UK core retail sales rose 0.4% mom in June. UK retail sales came in at -0.1%m/m in Junevs. -0.3% expected and -0.8% prior. Core retail sales excluding auto fuel sales came in at 0.4% MoM vs. -0.4% expected and -1.0% prior. In annualized […]
Breaking News!: UK Inflation Accelerates to 9.4% YoY in June vs. 9.3% Expected
UK CPI rises 9.4% yoy in June, vs. 9.3% expected. UK monthly CPI rises 0.8% in June vs. 0.7% expected. The UK Consumer Price Index (CPI) stood at 9.4% yoy in June, down from 9.1% in Mayand above estimates of 9.3%, the UK Office for National Statistics (ONS) reported on Wednesday. On the other hand, […]
