EUR/USD
1.14653
-0.543%
Gold
4027.39
-1.857%
Oil
83.661
1.226%
USD/JPY
159.436
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GBP/USD
1.34050
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GBP/JPY
213.728
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Real-time News
Federal Reserves Logan: Inflation risks are tilted to the upside, and the robust job market is strengthening slightly.On July 31, Bank of England Chief Economist Hugh Peele stated that the sharp fluctuations in energy and commodity prices caused by the Iran war could continue into 2027, highlighting the risk that inflation may remain high for an extended period, forcing policymakers to take action. Peele said that developments in the Middle East and how they will ultimately impact the UK economy remain "extremely uncertain" and difficult to predict. He added that the Bank of England cannot currently determine the duration or scale of the conflict, as evidenced by the recent erratic nature of US-Iran negotiations. He said, "In April, one might have hoped that, despite the significant uncertainty, at least by July we would know where things were headed. But that uncertainty remains, and we may face continued sharp fluctuations in energy and commodity prices by the end of this year and into next year." Peele is one of the most hawkish members of the Bank of Englands Monetary Policy Committee and one of the three members who voted for an interest rate hike this week.The final reading of the University of Michigan Consumer Sentiment Index for July was 55.2, below the expected 54 and the previous reading of 54.4.The final reading of the University of Michigan Current Conditions Index for July was 54.8, below the expected 54.7 and the previous reading of 54.9.The final reading of the University of Michigan Expectations Index for July was 55.4, compared to a forecast of 53.8 and a previous reading of 54.
