The Australian labour market appears to be cooling somewhat, which could give the Reserve Bank of Australia room to cut key interest rates again in August, Commerzbank's FX analyst Volkmar Baur notes.
EUR/GBP has broken out of its recent consolidation range, confirming renewed bullish momentum. With technical indicators supportive, the pair now targets higher levels, provided key support at 0.8585 holds, Société Générale's FX analysts note.
The latest Federal Reserve (Fed) Beige Book, a summary of interviews with businesses, economists, and market experts, revealed that although business activity remains healthy overall and inflationary pressures remain on the subdued side, pressures are still building in the background and business op