July 2017 News Archive

<h3>Pound (GBP)</h3> The Pound (GBP) held steady today despite growing fears for Britian’s retail sector after the retail giant Marks & Spencer announced that it would be slashing jobs due to the Covid-19 crisis. As a result, GBP investors have become increasingly jittery as the economy struggles. Meanwhile, a study by...

<h3>Pound (GBP)</h3> The Pound (GBP) struggled today after UK unemployment remained high with over 640,000 people losing their jobs since the onset of the coronavirus pandemic. As a result, investors have become increasingly concerned that Britain’s economic recovery could be much slower than previously expected. ...

<h3>Pound (GBP)</h3> The Pound (GBP) struggled today after the Institute of Directors (IoD) reported that UK high street footfall had significantly decreased in June. As a result, GBP investors have become increasingly concerned over Britain’s economic recovery. Meanwhile, Sterling traders have also become worried over the...

Pound Sterling (GBP) The Pound saw yet another week of recovery over the past week. Hopes for Brexit developments and some reaction to UK fiscal stimulus plans helped Sterling to firm a little higher. Hopes that UK economic activity will improve as more of the economy reopens is also supporting the currency. No notable UK data will be...

Pound Sterling (GBP) The Pound held its ground today after advancing yesterday. Speculation that there could be Brexit developments in the coming weeks, as well as higher market appeal for taking risks, is helping the Pound to hold its advances. Britain’s final June services and composite PMIs will be published tomorrow. Even if the...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) edged higher against many of its competitors today despite increased no-deal Brexit fears. Prime Minister Boris Johnson has taken a more confrontational approach on the Irish backstop, requesting that the EU remove it from the withdrawal agreement. Mr Johnson has increasingly...

<h2>Pound Sterling (GBP) Slumps as UK Wages Rise at Fastest Rate Since 2008</h2> Sterling was left under pressure on Tuesday despite data revealing that UK unemployment remained at a multi-decade low of 3.8%. Added to this, UK wages rose at the fastest rate in almost 11 years. However, the Pound slumped as there were some...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) rose against many of its competitors following the Bank of England’s (BoE) financial stability report today. The BoE emphasised its resilience in response to a possible chaotic, saying in its statement that it is ‘prepared for Brexit and trade war fall-out’. Mark Carney,...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell following the publication of the annual BRC like-for-like retail sales figures for June, which fell to record lows from -3.0% to -1.6%. Helen Dickinson, the Chief Executive at BRC, said: ‘Overall, the picture is bleak. Rising real wages have failed to translate into...

<h2>Pound Sterling (GBP) Under Pressure as Brexit Pessimism Looms</h2> Sterling (GBP) remained under pressure on Thursday as Brexit Secretary Steve Barclay stated that a no-deal Brexit could trigger a recession. When asked if he could rule out the UK suffering a recession due to a no-deal Barclay simply stated ‘Well,...

<h2>Pound (GBP) Under Pressure as Carney Warns Trade Tensions Could ‘Shipwreck’ Global Economy</h2> On Tuesday afternoon, Sterling remained under pressure following a disappointing UK construction PMI which fell at its fastest rate in a decade. Meanwhile, in a speech Bank of England (BoE) Governor Mark Carney warned the...

Pound Sterling (GBP) The Pound has advanced against the US Dollar and a number of other peers today, but has conversely fallen against the stronger Euro. This mixed performance comes as GBP traders consider the odds of a Bank of England (BoE) interest rate hike when policymakers meet on Thursday. Some economists put the odds of a...

Pound Sterling (GBP) Today has seen the Pound make limited movement against the Euro and US Dollar, due to persistent uncertainty about the state of the UK economy. The latest mixed message has come from the Confederation of British Industry (CBI), which has released distributive trade data covering retail activity in July. The...

Pound Sterling (GBP) The Pound has fallen against the Euro but traded in a narrow range against the US Dollar today, on a slow start to the week for the UK. The main source of influence on the UK currency has been signs of a potential Conservative Party leadership scuffle over how Brexit is delivered. Last week saw heavy criticism...

Pound Sterling (GBP) On Thursday, the Pound briefly saw stronger demand as investors reacted to a speech from Bank of England (BoE) Governor Mark Carney. Carney appeared optimistic about Britain’s economic outlook due to recent stats and this bolstered market confidence that the bank could be on track to hike UK interest rates in...

Sterling The Pound (GBP) rallied against the majority of its peers in trade today as the CBI published some upbeat data regarding the UK’s recent retail sales growth. The CBI reported a notable uptick in the pace of the UK’s retail sales growth in the year to July as the warmer weather helped to drive seasonal grocery and clothing...

Pound Sterling (GBP) The Pound tumbled on Thursday as investors reacted to June’s UK retail sales results. UK retail sales actually beat expectations in both major prints. Month-on-month retail sales improved from -1.1% to 0.6% while yearly retail sales rose from 0.9% to 2.9%. However, analysts noted that the figures overall rounded...

Pound Sterling Political jitters weighed down the Pound at the start of the week, with various reports circulating in the media alleging infighting within the cabinet. Coupled with the resumption of formal Brexit negotiations this soured the mood towards Sterling, with investors still wary of the prospect of the UK leaving the EU via the...

Pound Sterling (GBP) Sterling has risen by over 0.3% against the Euro and US Dollar today, thanks to words from Bank of England (BoE) policymaker Ian McCafferty. As well as stating that he will continue to support interest rate hikes in the future, McCafferty also toyed with the idea of unwinding the BoE’s considerable quantitative...

Pound Sterling (GBP) A pair of disappointing UK activity measures have weakened the Pound this week, causing tight trading against the Euro and a decline against the US Dollar. As well as Monday showing a dip in UK manufacturing, Tuesday has seen the construction PMI for June also decline. Neither sector has fallen into contraction,...

Pound Sterling (GBP) After solid performance last week, Pound demand cooled on Monday as investors reacted to the first of Britain’s June PMIs from Markit. Markit’s latest UK manufacturing PMI was projected to slip from 56.7 to 56.5, but instead dropped to 54.3 while the previous figure was revised to 56.3. As a result of the...

Pound Sterling (GBP) The Pound surged upwards on Tuesday, extending on its Monday rally following news that Britain’s next Prime Minister would be in office far quicker than expected. The UK’s Conservative leadership contest had been whittled down to two finalists, Andrea Leadsom and Theresa May, last Thursday. These two were expected...

Pound Sterling The mood towards the Pound turned rather optimistic this morning, with investors encouraged by the latest raft of UK production data. Industry growth continued to pick up in May, suggesting that the economy had been in a robust state ahead of the EU referendum. However, Sterling’s resultant gains may prove limited thanks to...

Pound Sterling (GBP) Sterling has been in a widespread state of decline against its peers today, on account of the major Bank of England (BoE) news consisting of a warning-laden report on the current and future state of the UK economy. The first financial stability report released since the ‘Brexit’ decision that came on June 23rd has...

Pound Sterling The Pound is gradually weakening after the latest construction sector PMI showed a significant decline in industry activity in the run-up to the UK’s ‘Brexit’ vote. While a weakening had been expected, economists weren’t expecting the sector to contract; the PMI dropped down to 46. This suggests that the UK’s...

Pound Sterling (GBP) The British asset declined versus the majority of its currency rivals on Friday afternoon in response to less-than-ideal domestic data results. GfK Consumer Confidence was forecast to drop from 7 to 5 in July, but the actual result dropped to 4. Additionally, the Lloyds Business Barometer declined from 55 to 50 in July....

Pound Sterling (GBP) The British Pound advanced versus many of its currency competitors on Thursday despite a distinct lack of domestic data to provoke volatility. The appreciation was the result of a survey which showed personal insolvency in the UK dropped to its lowest level in nearly ten years. That is a drop of 29.3% annually. Also...

Pound Sterling (GBP) After British economic data bettered median market forecasts, the Pound strengthened versus many of its currency rivals. Net Consumer Credit, Net Lending Securities on Dwellings and Mortgage Approvals all eclipsed the respective market consensuses. However, Sterling gains were a little sluggish as data revealed that...

Pound Sterling (GBP) The British Pound advanced versus most of its currency rivals during Tuesday’s European session after growth data met with estimates. Second-quarter Gross Domestic Product equalled economists’ forecast of 0.7% growth on the quarter and 2.6% growth on the year. The appreciation has been somewhat sluggish, however, as...

Pound Sterling (GBP) The British Pound declined versus the majority of its most traded currency rivals on Monday morning. The depreciation can be linked to a general reluctance to invest ahead of the significant second-quarter Gross Domestic product data due for publication on Tuesday. Many analysts expect the result of the UK’s growth...

Pound Sterling (GBP) After Thursday’s disappointing retail sales data caused the Pound to slump versus its major rivals, the UK asset advanced on Friday morning. This was mainly due to better-than-expected mortgage approvals data. BBA Loans for House Purchase was forecast to advance from 42876 to 43300 in June, but the actual result...

Pound Sterling (GBP) The British Pound softened versus the majority of its closest currency rivals on Thursday. The depreciation is the result of disappointing British retail sales despite expectations that the combination of record-low interest rates, soft consumer prices and accelerated wage growth would cause retail sales to spike. On...

Pound Sterling (GBP)\r\nThe British asset rallied versus most of its major peers on Wednesday despite the fact that minutes from the most recent Bank of England (BoE) interest rate decision showed all nine Monetary Policy Committee (MPC) members opted to hold the cash rate. Sterling appreciation can be linked to speculation that may MPC...

Pound Sterling (GBP) The British Pound edged lower versus many of its currency rivals on Tuesday despite mixed results from domestic finances data which erred towards positivity. The Pound’s depreciation is the result of traders locking in profits after last week’s significant surge has opened up some attractive selling positions. Whilst...

Pound Sterling (GBP) On Wednesday the Pound declined versus its major rivals in response to subpar domestic employment figures. However, although wage growth data failed to meet with median market projections; the result still put average earnings at a five-year high. This has seen the Pound recover losses on Thursday despite a complete...

Pound Sterling (GBP) After British labour market data produced mostly disappointing results, the Pound softened versus most of its major peers. June’s Jobless Claims Change saw 7,000 new claimants, much higher than perditions of -9,000. Unemployment rose in May from 5.5% to 5.6%. May’s Employment Change dived by -67,000 and Average...

Pound Sterling (GBP) After British data showed Consumer Prices dropped to 0.0% in June, the British asset declined versus its major peers. However, the depreciation was short-lived after Bank of England (BoE) Governor Mark Carney stated that he sees low consumer prices as temporary with inflation picking up towards the end of the year. This...

Pound Sterling (GBP) The British Pound advanced versus the majority of its most traded currency rivals during Monday’s European session. This is partly due to ongoing positive sentiment after Friday’s domestic data showed that the trade deficit narrowed beyond expectations. The general weakness of the Pound last week has also...

Pound Sterling (GBP) The British Pound advanced versus the majority of its most traded currency competitors on Friday after a recent sustained depreciation was seen as unjustified. The UK asset dived on news that Chancellor George Osborne cut 2015 growth projections. However, the majority of the budget was hawkish and looked to improve the...

Pound Sterling (GBP) The British Pound dived versus nearly all of its major peers on Wednesday amid speculation of a long delay before a Bank of England (BoE) interest rate hike. Manufacturing Output slowed unexpectedly on Tuesday as a result of Sterling overvaluation and weak demand from Europe. The Pound’s relative high value has caused...

Pound Sterling (GBP) The British Pound softened versus most of its major competitors on Tuesday afternoon following mixed results from economic data publications. Industrial Production bettered estimates in May on both an annual and monthly basis. However, manufacturing Production failed to meet with expectations. May’s manufacturing...

Pound Sterling (GBP) Despite moderate concerns that the British economy could suffer from diminished exports to the Eurozone with heightened potential for a Greek exit, the Pound strengthened versus many of its peers on Monday morning. The appreciation can be linked to New Car Registrations having hit a record 7.0% half-year advance. The...

Pound Sterling (GBP) The Pound Sterling edged higher versus most of its peers during Thursday’s European session despite registering mixed results from domestic data publications. On the year, Nationwide House Prices came in at 3.3% in June; missing the median market forecast 4.5% increase. On the month, June’s House Prices declined by...

Pound (GBP) The British Pound softened versus most of its currency rivals on Wednesday thanks to disappointing manufacturing output. June’s seasonally-adjusted Manufacturing PMI was forecast to rise from 51.9 to 52.5, but the actual result dropped to 51.4. David Noble, Group Chief Executive Officer at the Chartered Institute of...

Pound (GBP) The UK economy saw Mortgage Approvals data published on Tuesday that proved highly favourable; approvals jumped up to 67.2K, bypassing forecasts of only 63.0K. Furthermore, Net Lending Secured on Dwellings reached 2.1B despite economists forecasting only a 1.9B figure. The Pound however was unaffected by the positive mortgage...

Pound (GBP) In a quiet day by way of data yesterday, Tuesday will see Mortgage Approvals, Net Lending Secured on Dwellings and Net Consumer Credit data published. The Pound (GBP) has been trading strongly in the currency market, and fears are becoming evident that Sterling is overvalued which could cause problems for the balance of the UK...

Pound (GBP) The Pound (GBP) saw an interesting day on Thursday with UK Retail Sales data failing to meet economists’ forecasts. However, the figures showed a more than ten-year high in sales growth in the second quarter as a whole. Friday will be an influential day for the Pound as Gross Domestic Product figures are released. The GDP...

Pound (GBP)\r\n\r\n Monday sees the Pound (GBP) currently trading up at 1.6977 against the US Dollar (USD). Tuesday will see the publication of UK Mortgage Approvals alongside Net Lending Secured on Dwellings data which could give support to the Pound against other major currency peers. However, concerns are rising regarding the high trading...

Pound (GBP) Thursday will see the UK release June’s Retail Sales figures which are currently forecast to remain at 3.9% year- on- year. The Pound (GBP) could enjoy a boost if statistics prove favourable as investors remain attentive to the UK economy’s progress with the speculation of interest rate hikes this side of Christmas...

Pound (GBP) The UK is eagerly anticipating the Bank of England’s (BoE) Meeting Minutes released this morning, which may shed some light on the current stance of board members regarding UK interest rate hikes. The Pound (GBP) has gained against the Euro in anticipation of the minutes, allowing the GBP/EUR exchange rate to climb to 1.2681....

Pound (GBP) UK businesses are fearing for their profits with the Pound (GBP) trading so strongly in the currency market at present. The Pound may be influenced on Tuesday however, as Public Finances and Public Sector Net Borrowing data is released. However Monday saw less favourable results from House Prices figures, which have added to...

Great British Pound (GBP) The UK’s soon to be released GDP report is expected to show that growth is back to pre-crisis levels with expansion through six consecutive quarters. Former Bank of England (BoE) official David Tinsley commented: ‘The story continues of a pretty consistent and fast rate of growth. Policy makers will need to...

Pound (GBP) The Pound (GBP) has firmed recently against all major currencies, however the discussion over how much more it can feasibly gain against the US Dollar (USD) is in debate on Friday; instead, economists are speculating that Sterling will be gaining vastly against the Euro (EUR). A representative for the Bank of America, MacNeil...

Pound (GBP) Wednesday saw the Average Weekly Earnings data in the UK disappoint as it revealed that wages aren’t increasing as hoped. This could support Governor of the Bank of England Mark Carney’s views on keeping the interest rates in the UK low. The BoE has been under increasing pressure to increase interest rates and this data...

Great British Pound (GBP) The Pound has soared during the beginning of the week after Tuesday revealed positive Consumer Price Indexes, showing the UK inflation rate has grown quicker than anticipated. Economist for BNP Paribas, David Tinsley, stated: ‘It’s hard not to conclude that this looks like a good, old-fashioned UK inflation...

Great British Pound (GBP) The UK has seen extremely positive results from the release of the Consumer Price Index today, with it beating expectations for an annual rise in June of 1.6%(up from May’s previous 1.5%) and achieving 1.9% Year-on-Year. Month-on-Month the figure has risen by 0.2% following a previous decline of -0.1% in May....

Great British Pound (GBP)\r\n\r\nThe Pound experienced a disappointing day on Thursday with poor Trade Balance data and the lack of encouragement gained from the Bank of England with regards to interest rate hikes. Moreover the strong Pound is damaging profit margins for retailers. However, economists are predicting the Pound will reach highs...

British Pound (GBP) In a quiet day by way of UK data on Monday, the Pound is currently trading lower at 1.7113 against the US Dollar after a poor performance for UK figures last week. Tuesday will be an influential day for Sterling with the UK Consumer Price Index released, along with the Core Consumer Price Index and the Producer Price...

Pound (GBP) As the UK eagerly anticipates data publishing today, the Pound still remains bullish in the currency market trading against the US Dollar at 1.7138. However, manufacturers and corporate giants are concerned about how the strong Pound will affect profits made as their sales surge Year on Year. Burberry believes that the strong...

Pound (GBP) The Pound declined slightly yesterday after unexpected Industrial Production and Manufacturing Production data were published for the UK revealing a much lower than anticipated figures. In a fairly quiet day for the UK on Wednesday, the Pound prepares for the US meeting minutes, due for publication later today, and data-heavy...

Pound (GBP) Tuesday will see the publication of UK data for Industrial Production, which is expected to rise from 3.0% to 3.2% YoY, and Manufacturing Production which is forecast to jump from the former 4.4% to 5.6% YoY. Currently trading at 1.7136 against the US Dollar, the Pound could jump climb higher if positive data this week...

Pound Sterling (GBP) With a weak US Dollar and Euro, Sterling has been able to be bullish in the currency market.; Hhowever, recent speculation regardingfor the Federal Reserve raising interest rates has caused economists to hypothesis that the ‘Buck’ is on the rise. Tuesday will see the publication ofpublish data for UK Industrial...

Pound (GBP) The Pound has dominated the currency market in the latter half of the week, boosted to its highest level against the Euro in 21 months in the anticipation of UK interest rate hikes and ECB low interest rates continuation. Bank of Tokyo representative Lee Hardman stated: ‘The trend is still strongly higher for the Pound....

Pound (GBP) Positive Manufacturing PMI has proved greatly supportive for the Pound this week with the currency currently trading at 1.7151 against the US Dollar, reviving hopes of an interest rate hike before Christmas. EEF representative, Lee Hopley, stated: ‘We’ve seen a big focus on new product and service innovation across industry...

Pound (GBP) The Pound has only grown stronger in recent weeks, unable to be held back by other major currencies. With the latest unexpected rise in UK Manufacturing PMI the Pound has reached its most prominent value against the US Dollar since 2008, with highs on Wednesday of 1.7159, causing the subject of interest rate rises to become a...

Pound Sterling (GBP) The Pound has risen again against the weakened US Dollar to 1.7102, over the 1.71 threshold, its highest level for nearly six years. Tuesday will see the publication of Markit PMI manufacturing data for the UK, which is forecast to be slightly lower than the current 57 reading at 56.8. Although a great amount of...

With Asian stocks taking a little tumble before the Federal Open Market Committee issues its policy statement, investors turned to safe-haven assets and the Swiss Franc was able to rally. The Franc edged up to 92.87 centimes per Dollar and 1.2311 centimes per Euro. The currency was also supported by the news that the Swiss KOF leading...

Pound Sterling GBP/EUR – Trading in the Region of 1.1466 Although a gauge of UK consumer confidence rose by more than expected, Sterling was trading within the region of a four-month low against the Euro and was softer against the US Dollar. The British currency was adversely affected by a larger than forecast decrease in the BRC shop...

The Rupee softened against several of its most traded rivals in the aftermath of the Reserve Bank of India’s rate decision. Although economists had expected the central bank to leave rates unaltered, the tone of the policy statement was surprisingly dovish. The RBI also asserted that it will taper the liquidity tightening measures...

Pound Sterling GBP/EUR – Trading in the Region of 1.1566 Better-than-forecast news from the Eurozone saw the Pound slip against the Euro as the European session progressed. While Lloyds business barometer for the UK will be of interest, investors will also be looking ahead to tomorrow’s domestic consumer confidence figures and the Bank...

Although the Rupee has recovered some of the losses which saw it hit record-lows against the US Dollar earlier this month, the currency was trading slightly lower against the US Dollar today and its weakness remains a real cause for concern. Ahead of tomorrow’s Reserve Bank of India rate decision, the central bank commented that: ‘The...

Pound Sterling GBP/EUR – Trading in the Region of 1.1588 Before the publication of UK mortgage approval data the Pound posted a modest advance against the Euro. As the report showed that mortgage approvals for house purchases fell, while lending to small and medium-sized British firms expanded at a record pace, Sterling could fluctuate...

With the Reserve Bank of India taking decisive steps in order to temper the Rupee’s volatility, the currency is set for a third consecutive five-day gain against the US Dollar. After the Rupee plummeted in response to Federal Reserve tapering speculation, the Reserve Bank of India took action. In recent weeks the central bank has imposed...

Pound Sterling GBP/EUR – Trading in the Region of 1.1581 While the Pound has retained declines against the Euro, the British currency is in line to record a five-day advance against the US Dollar. Investors will now be looking ahead to next week’s significant UK news, including a mortgage approvals report. US Dollar USD/EUR –...

Pound Sterling GBP/EUR -Trading in the Region of 1.1621 Ahead of the release of the latest GDP data the Pound came close to a four-month high against the US Dollar as investors wait for the release of data which is expected to show that the UK economy expanded in the second quarter. Against the Euro, Sterling advanced for the first time in...

During the local session the Ruble weakened to 32.38 against the US Dollar and 37.0823 against the Russian central bank’s Dollar/Euro basket. The currency fell as crude oil, Russia’s major export, declined by 0.9 per cent to roughly 106.32 Dollar’s per barrel. Emerging-market currencies like the Ruble were also adversely...

Pound Sterling GBP/EUR – Trading in the Region of 1.1615 For the first time this week the Pound declined against the US Dollar as the safe-haven American asset was boosted by disappointing economic news from China. Sterling also softened modestly against the Euro as several pieces of positive Eurozone data supported the common currency....

With the US Dollar broadly softening in the wake of yesterday’s disappointing US housing data the Indian Rupee was able to strengthen against its American counterpart. The less-than-impressive US news makes it increasingly likely that the Federal Reserve will refrain from tapering stimulus in the months ahead. India’s currency was...

Pound Sterling GBP/EUR – Trading in the Region of 1.1645 The world’s media may be focused on the birth of the future UK monarch, but there is other important domestic news scheduled for release this week. UK GDP figures, out on Thursday, are expected to show economic expansion of 0.6 per cent and the Pound remains supported against its...

According to the President of the Swiss National Bank, there are currently no plans to alter or remove the Swiss Franc ceiling of 1.20 per Euro. The Franc has been capped since September 2011 as the SNB attempts to fight off deflationary concerns and recession fears. The SNB’s efforts have resulted in the central bank accumulating...

Pound Sterling GBP/EUR – Trading in the Region of 1.1616 As Prime Minister David Cameron intimated that UK taxes could be lowered if recent economic improvements continue the Pound was able to strengthen against several of its rivals. Sterling advanced on a softening US Dollar, brushing an over two-week high, and posted a modest gain...

After declining for two days, speculation that China’s government will widen the Yuan’s currency trading band helped the Yuan gain. For all bar one day this week the People’s Bank of China has cut the Yuan’s reference rate. The Asian asset is currently trading against the US Dollar in the region of 6.1377 Yuan per Dollar....

Pound Sterling GBP/EUR – Trading in the Region of 1.1607 With a UK public finance report showing that Britain’s budget deficit unexpectedly widened in June from the same period of the previous year the Pound fluctuated as the European session progressed. Investors will now be looking ahead to next week’s second quarter GDP figures...

According to Moody’s Investor Service, one of the top three credit ratings agencies, the Rupee’s persistent weakness could constrain India’s sovereign credit rating. Since Federal Reserve Chairman Ben Bernanke announced that the US central bank may begin tapering stimulus if the world’s largest economy continues to recover,...

GBP recovers against EUR, USD peers on stronger data Pound Sterling GBP/EUR – Trading in the Region of 1.1575 The Pound has recovered its earlier losses against the Euro and US Dollar due to the release of the latest retail sales figures. The data came in at 0.2% on a month-by-month basis matching economist expectations. Year by year...

For the first time this week the Lira dropped against the US Dollar as investors speculated that Turkey’s central bank will issue a smaller-than-forecast rate increase when it meets next week. Bond yields also rose in light of the speculation. Economist Tim Ash said of next week’s meeting: ‘The hope/expectation is that the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1493 As the local session began the Pound was trading close to a four-month low against the Euro. Sterling fluctuations are likely to result from today’s big UK news, including the publication of minutes from the latest Bank of England policy meeting and British employment data. News...

Yesterday’s smaller-than-forecast gain in US retail sales, coupled with a supportive domestic infrastructure plan, saw Mexico’s currency rally. The Peso was able to achieve a month-high against its North American rival after the 0.4 per cent advance in US retail sales (compared with expectations for a 0.8 per cent gain) lowered the...

Pound Sterling GBP/USD – Trading in the Region of 1.5089 With economists forecasting that today’s UK inflation data will show that consumer and producer prices accelerated in June, the Pound was little changed against the Euro as the local session got underway. However, the British currency was able to advance on a broadly softening US...

Turkey’s currency was trading within the region of a week-high against its US counterpart after appreciating by 1.2 per cent following heavy hints from the nation’s central bank that rates could be increased this month. According to a statement by the Governor of the Turkish central bank Erdem Basci, ‘A measured step to widen the...

Pound Sterling GBP/USD – Trading in the Region of 1.5089 Although a UK report revealed that home sellers raised asking prices to record levels in July, the Pound was little changed against peers like the US Dollar as the European session began. However, with UK retail sales, employment and inflation data all on the cards for this week...

During local trade the Banco de Mexico announced its decision to hold the overnight rate at 4 per cent. The result was expected by economists as above-target inflation and a depreciating Peso have worn on Mexico’s economic growth. ows Although economists have lowered growth forecasts for Mexico to their lowest since 2009, the weak Peso...

Pound Sterling GBP/USD – Trading in the Region of 1.5133 As a result of recent US news, and with economists forecasting that today’s industrial production report for the Eurozone will show a decline, the Pound advanced modestly against the US Dollar and Euro as local trade began. However, with UK construction output declining by...

Although the Rupee hit a fresh record low against the US Dollar earlier this week, the Indian currency strengthened as emerging market assets were boosted by the decreasing odds of the US Federal Reserve tapering stimulus. India’s currency strengthened to 59.32 against the US Dollar, breaking through the psychological 60 Rupee per...

Pound Sterling GBP/USD – Trading in the Region of 1.5080 Speculation that the Pound’s recent decline has been excessive, coupled with an unexpectedly dovish statement from Fed Chairman Ben Bernanke, saw the Pound advance against the US Dollar over night. Sterling also posted modest gains against several of its other most traded...

For the first time in several days Turkey’s Lira weakened against the US Dollar. The Lira fell to 1.9497 against the US Dollar after Fitch Ratings, one of the top three ratings agencies, intimated that Turkey could be in line for a rate cut given the extended period of social unrest the country has experienced. Back in November...

Pound Sterling GBP/USD – Trading in the Region of 1.4896 Yesterday’s disappointing UK industrial production and manufacturing figures pushed the Pound to a three-year low against the US Dollar and saw Sterling adopt a bearish relationship with the majority of its other currency peers. However, as investors look ahead to next week’s...

Russia’s Ruble was able to advance by the most for two weeks as a major Russian export, oil, edged towards a 14-month high. The Ruble also gained as speculation that the Bank Rossii may cut rates when it meets on Friday caused bonds to rise. A domestic report published today showed that a gauge of Russian consumer confidence climbed...

Pound Sterling GBP/USD – Trading in the Region of 1.4954 Prior to the release of UK industrial production and GDP data the Pound was slightly stronger against the US Dollar but little changed against the Euro. However, with UK industrial production declining by significantly more than expected in May the Pound could decline in the hours...

Thailand’s currency dropped to a 10-month low against the US Dollar in the aftermath of a better-than-forecast increase in US employment. After data published on Friday showed that the US economy added 195,000 jobs rather than the 165,000 expected, the US Dollar broadly strengthened and emerging market/commodity driven currencies...

Pound Sterling GBP/USD – Trading in the Region of 1.4895 The Pound continues to trade below 1.50 against the US Dollar following last week’s surprisingly dovish policy statement from the Bank of England. Although an absence of UK news is likely to limit Pound fluctuations today, tomorrow’s UK industrial production report will be of...

For the ninth week in a row the Indian Rupee declined against the US Dollar as expectations surrounding the Federal Reserve tapering stimulus saw more foreign funds pulled from India’s debt and caused the ‘Greenback’ to broadly strengthen. Foreign investor’s holdings of Rupee bonds were cut by 562 million Dollars in the first...

Pound Sterling GBP/USD – Trading in the Region of 1.5014 Given the recent stream of positive UK data, the BoE’s dovish policy statement took markets by surprise. In response to hints that rates will not be raised for some time to come the Pound dropped against most of its counterparts and hit a five-week low against the US Dollar. News...

A surprisingly dovish statement from the Bank of England saw the Pound plummet against the US Dollar, shedding 1.3 per cent. The rapid decline was the most significant for 18 months. Under the direction of new BoE Governor Mark Carney, the Monetary Policy Committee intimated that interest rates will be held at their record low for longer...

Pound Sterling GBP/USD – Trading in the Region of 1.5255 Yesterday’s stronger than forecast UK services PMI helped the Pound advance on several of its main counterparts. However, the British currency slid to an almost 5-week low against the US Dollar ahead of Mark Carney’s first Bank of England policy meeting. Sterling was little...

Yesterday ongoing speculation regarding the Federal Reserve’s intentions towards tapering quantitative easing saw Mexican Peso volatility hit an 11-month high. Recent positive US data, including yesterday’s better-than-expected gain in factory orders, has upped the odds of the Federal Reserve starting to rein in stimulus before the...

Pound Sterling GBP/USD – Trading in the Region of 1.5162 Before UK services PMI data was published the Pound was trading in the region of a month low against the US Dollar and was little changed against the Euro. However, the British currency could climb in the hours ahead as UK services PMI unexpectedly climbed to 56.9 in June....

Mark Carney’s first policy meeting as Governor of the Bank of England and the European Central Bank’s rate decision, both taking place on Thursday, might be the biggest pieces of European economic news scheduled for this week, but there are other events investors will be looking out for. One such event is the Riksbank’s rate...

Pound Sterling GBP/USD – Trading in the Region of 1.5220 Yesterday’s better than expected UK manufacturing data helped the Pound post modest gains against several of its peers. Although the British currency was little changed as local trade began it could soften slightly in response to a report showing that the UK construction sector...

After gaining for two days, and rising close to a two-week high against the US Dollar, the Rupee weakened before the close of the local session. The Rupee dipped against its safe-haven American counterpart as the benefits of a strong local market and corporate inflows were undone by a sudden surge in US Dollar demand on the part of oil...

Pound Sterling (UK) GBP/USD – Trading in the Region of 1.5219 Last week the Pound broadly softened after Mervyn King, former Governor of the Bank of England, stated that the UK economy isn’t strengthening as rapidly as hoped. Today Sterling is little changed against its main rivals, despite a report showing that UK house prices climbed...