On Thursday, The pound fell sharply after the Bank of England cut interest rates for the first time since March 2009, and said it would buy 60 billion pounds of government debt.
GBP fell to $1.31 affected by the BoE’s interest rate decision. Cable could decline further during the course of the day as investors awaited U.S. jobs data later in the day.
Markets are awaiting US Non-farm Payrolls report, which is expected to show that the US economy created 180K new jobs in July.
The U.S. dollar index recovered for a second day in a row and settled at 95.70.
On Thursday, Gold prices rose once again, after the Bank of England cut interest rates for the first time since 2009.
Gold jumped to $1,360 in anticipation of the US Non-farm Payroll report later on today. Strong U.S. data may push the yellow metal to settle below $1,330.
Euro settled at $1.11 vs. USD on Thursday, as traders’ awaited U.S. jobs data. On the other hand, the European Central Bank said, “The global economic outlook has become more uncertain after Britain's vote to leave the European Union; the European Central Bank said on Thursday, reaffirming its readiness to act if needed to support euro zone inflation.”
Fiber could break $1.11 by the end of today’s trading session.
Oil prices rose by 3% on Thursday, and US crude settled at $41 as gasoline stocks declined. Form a technical point of view, oil could settle below $42 by the end of the week.
The most important economic events:
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