17/10/2024 Daily Reports
UK inflation came in softer than expected for September, with CPI rising just 1.7% vs. the 1.9% forecast. This surprising miss has sparked speculation that the Bank of England could cut rates more aggressively in November—sending GBP/USD tumbling.
But here’s the real question: could this be just the beginning? Analysts at HSBC warn that if services inflation keeps cooling, the pound could slide even further in the months ahead. Markets are already eyeing a December cut, but how much lower could the BoE go?
A pivotal moment for the pound—what’s next?
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Gold Hits Record Highs! Is It Time to Invest?
Gold soared to $2,680 per ounce, reaching new record highs as investors eye a wave of central bank rate cuts and declining bond yields. With the Federal Reserve likely to cut rates in November and the ECB expected to follow suit, gold’s appeal has surged. Meanwhile, geopolitical tensions in the Middle East and uncertainty surrounding the U.S. presidential election are adding fuel to the fire. As global interest rates drop, is gold becoming the ultimate safe haven asset?
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