No change of the indicator value may reduce the volatility of the related markets.
No change of the indicator value may reduce the volatility of the related markets.
The Bank of England raised its key rate by 0.5% to 3.5%, while Great Britain is preparing for a prolonged recession.
Expectations of specialists and market participants came true — the Bank of England increased Bank Rate by 50 basis points to the level of 3.50%. Thus, the pound sterling is left without much support from the British central bank, according to a report by TD Securities economists.
Last month in Mexico there was a significant drop in inflation. Currently, the central bank of Latin America's second-largest economy slowed the pace of interest rate increases.
According to strategists at ANZ Bank, gold prices tend to remain under downside pressure ahead of an economic downturn. However, recessions usually move gold prices up and make gold perform inversely to other markets, such as the stock market.
Oil is about to end the week on the rise after a series of positive forecasts regarding fuel demand. On Tuesday, OPEC stuck to its projections for global oil demand growth of 2.55 million bpd this year and 2.25 million bpd next.
On Friday, gold prices began to stabilize. Previously, the yellow metal was losing ground significantly amid growing recession risks and expectations of higher interest rate peaks by some leading central banks.
The focus is on speculative positions in gold and silver.
On the agenda are data on rigs from Baker Hughes and speculative positions on oil and gas.
On the agenda are the decision of the Central Bank of Russia on the interest rate, inflation in the Eurozone, the business climate and retail sales of the UK, the unemployment rate of Sweden and the trade balance of Singapore.
On Wednesday, the dollar rate changed after the speech of the head of the Fed Jerome Powell. According to the Fed’s forecasts, in 2023, the borrowing costs will increase at least by 75 basis points.