See the full story in the original article.
Read the original on redditchadvertiser.co.uk ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 1.33804 |
| Change that session | -0.15% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Plan to drag UK back into EU single market slammed as 'total betrayal'
Andy Burnham has said he wants an 'honest discussion' about rejoining the EU single market and restoring free movement, ahead of a UK-EU summit in Brussels on 20 November. He previously called Brexit a 'catastrophic mistake', although Labour's 2024 manifesto ruled out single market membership and free movement. Burnham argued migration patterns have changed since the Brexit referendum and said free movement brought benefits and access to security frameworks such as Eurodac, but that he is 'not proposing' an immediate return. He says a new public vote would be needed for full EU membership, is open to single market options and free movement, and has ruled out joining Schengen or adopting the euro. Reform UK leader Nigel Farage called the remarks a 'total betrayal', while shadow home secretary Chris Philp said a return to free movement would mean uncontrolled migration.
- Rayner : Nothing off table in Burnham talks with European Union
- Sterling today: Pound slips as AI fears ebb; UK budget, Fed in focus
Sterling fell 0.18% against the dollar to $1.3283 as of 06:17 ET, while the euro was little changed at $1.1125, near its lowest level of the year, as a firmer dollar and caution ahead of the Federal Reserve decision weighed on European currencies. Receding fears of an AI-driven equity sell-off, after strong third-quarter results from SK Hynix, let markets refocus on dollar-supportive factors, with the dollar index nearing its yearly highs around 102.35. ING's Chris Turner said the clearer risks are higher energy prices, higher inflation and the central bank response, and suspected Fed Chair Warsh would avoid citing tighter financial conditions. The UK budget is due the same day, but ING does not expect it to have much say on Bank of England tightening, though a 20 basis point risk premium in 10-year gilt yields could partly unwind. The euro was also pressured by an unresolved French budget crisis, while the ECB's lending survey showed tighter conditions and an unexpected fall in corporate loan demand.
- Interest rates unlikely to reach 4 . 75 % by next summer , say City economists
City economists argue financial markets are wrong to price in a rise of a full percentage point or more in Bank of England rates by next summer. Market-implied expectations point to the bank rate rising from 3.75% today to 4.75% by the end of July, possibly reaching 5% by December 2027. James Smith of ING and Sanjay Raja of Deutsche Bank both see that path as unlikely, with Raja estimating that only about 50bps of hikes is priced in once risk premia are removed. Deutsche Bank expects the rate at 4.25% by next February, while Oxford Economics forecasts 25bps rises in November and February. The BoE is widely expected to lift rates to 4% on 5 November, after UK inflation rose to 3.5% in September.
- Dollar Sinks to One-Month Low as Oil Slump Eases Haven Demand
The dollar fell to a one-month low against a basket of currencies as oil prices dropped sharply. The headline indicates that this move came alongside easing demand for the dollar as a haven.
- Sterling today: Pound gains as dollar slips on Iran diplomacy bets
Sterling rose 0.39% against the dollar to $1.3440 and the euro gained 0.65% to $1.1233 on Monday, as the dollar eased after oil prices fell 2-3% on reports that U.S. President Donald Trump wants diplomacy with Iran to run its course. ING's Chris Turner expects DXY to trade around 102.00 and sees no strong case for a lower correction, while describing the Fed outlook as hawkish. A 25 basis point Bank of England hike to 4% on Thursday is fully priced, with ING expecting a 7-2 vote, while the euro faces added pressure after Fitch cut its outlook on France to negative. HSBC puts EUR/USD support at 1.1084 and resistance at 1.1250.
Related markets
Latest news
- Amazon Soars 5% as Phillip Securities Upgrades It to Buy After Earnings Sell-Off
Amazon (AMZN) shares rose 5% after Phillip Securities upgraded the stock to Buy with a 330 USD price target, following a Friday sell-off over AI spending that outpaced cash flow. Phillip analyst Helena Wang pointed to demand visibility: AWS revenue grew 39% to 46.0 billion USD last quarter, backlog reached 578 billion USD, and CEO Andy Jassy projected AWS growth above 40% in both 2027 and 2028. Against this, capital spending has nearly tripled since late 2024 to 77.3 billion USD in the September quarter, leaving trailing 12-month free cash flow at a 42.4 billion USD outflow. Alphabet and Meta face similar cash shortfalls, while Nvidia stands to benefit from the spending. Amazon's forward P/E fell to 24x, its lowest in five years and less than half its five-year average of 49x.
- Chamath flags a hidden risk building under the AI boom
The AI race among Big Tech companies is creating a new financing risk for investors.
- Amazon is on a course to spend half a trillion dollars in a single year: JPMorgan
JPMorgan tech analyst Doug Anmuth projects Amazon's capital expenditure will reach 395 billion USD in 2027, up 77% year over year, and 476 billion USD in 2028, up 20%, as he expects capex growth not to slow next year. He argues management's strong visibility into demand gives it confidence to underwrite growth above 40% over the next two years and to invest even more aggressively in AI infrastructure. Amazon itself estimated 2026 capex at 220 billion USD, while CEO Andy Jassy said 2027 spending would be 'meaningfully more' without giving a figure. Trailing 12-month free cash flow turned to a 42.4 billion USD outflow, driven by a 94.8 billion USD year-over-year increase in property and equipment purchases, mainly for AI. Shares fell over 1% on Friday before rebounding Monday, lifting year-to-date gains to 9% versus 11% for the S&P 500.
- Tempus AI Revenue Up 23%; Gains Cut Net Loss: Rapid Earnings Reaction
Tempus AI (TEM) reported third-quarter revenue up 23% to $411.5 million and raised its 2026 revenue outlook; shares rose about 3.9% in pre-market trading. The net loss narrowed to $14.9 million from $80.0 million, mainly due to $42.8 million in unrealized gains on marketable securities, while the operating loss barely changed at $56.9 million versus $61.0 million. Data and Applications revenue rose 33% to $108.1 million, with a gross margin above 71%, which lifts overall margins. Adjusted EBITDA reached $25.6 million versus $1.5 million a year earlier, though it excludes about $48 million in stock-based pay. The adjusted EBITDA outlook held at about $65 million, implying about $34 million in the fourth quarter, and the article flags Hereditary testing revenue, up just 3%, as a point to watch.
- Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish
Bitmine Immersion Technologies bought 8,573 more ETH in its latest weekly purchase, lifting total holdings to 6,060,506 ETH, worth about $13.7 billion, or 4.9% of Ethereum's 122.2 million token supply. The company said it is 99% of the way to its goal of owning 5% of the network. Chairman Tom Lee said the record $6.4 billion Binance hack, which the FBI attributed to North Korea, showed crypto's resilience, as ETH fell only 4%, compared with an 8% drop on the day of the $1.5 billion Bybit hack in February 2025. Lee cited six reasons, including Binance's ability to cover all customer losses and the FBI naming North Korea within two days. As of Nov. 1, total holdings, including cash, other tokens and investments, reached $14.5 billion, and about 86% of its ETH is staked through its MAVAN platform, with projected annual staking revenue of about $358 million.
- Behind Anthropic's 1,127% revenue surge — and the computing bill that erased its profit
Anthropic has just filed updated financial paperwork ahead of an IPO that could take place by the end of this month. Its revenue surged 1,127%, but computing costs erased its profit.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.