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Strong week, weak finish

Strong week, weak finish

UK economy surges unexpectedly, bolstering case for rate hike next week

  • #Gold retreated as investors focused on the likelihood that U.S. interest rates are set to rise, but concerns over the course of the Ukraine conflict put safe-haven bullion on track for a second consecutive weekly gain
  • Britain's economy rebounded much more than expected in January from its coronavirus-related lull in late 2021, raising the likelihood of an interest rate hike next week
  • The #euro steadied but was still set for weekly gains as the European Central Bank's announcement that it will phase out its stimulus lent support to the single currency
  • #WTIUSD skyrocketed 1.5%
  • #BTCUSD rose 0.4%

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