Australia News

<h2>Pound (GBP) Gains as Coronavirus Jitters Hit Markets </h2> The Pound (GBP) made significant gains against its more risk-sensitive peers at the end of the week. News of the emergence of a highly-mutated coronavirus variant in southern Africa described as more transmissible than the Delta variant and able to evade immune responses that current vaccines provide rocked global markets. However, Sterling’s gains were limited and fell against the Euro as the threat of the latest variant appears to have caused some...

<h2>Pound (GBP)</h2>\r\nThe Pound (GBP) fell to a one-month low against the US Dollar (USD) yesterday, following the UK government’s decision to delay lockdown easing. Sterling also dropped in its currency pairing with the Euro (EUR).\r\n\r\nFallout from the government’s decision overshadowed the publication of positive unemployment rate and earnings statistics. Figures show that unemployment has dropped and wage growth increased in April.\r\n\r\nLooking ahead, the UK’s latest CPI findings may buoy the Pound as data...

<h2>Pound (GBP) </h2> The Pound exchange rate held steady today because of a lack of any influential UK economic data. UK markets remain on the whole positive, however, with Covid-19 infection rates only modestly rising, while daily hospitalisations are showing signs of dropping. Daily deaths from the coronavirus are also relatively low compared to the start of this year. Meanwhile, the property website Zoopla has predicted that house prices could leap by as much as 46% this year. Grainne Gilmore, head of research...

<h2>Pound (GBP) </h2> The Pound (GBP) struggled this morning despite UK inflation more than doubling in April because of rising energy prices. Inflation is expected to head higher in the coming months as the UK economy continues to ease lockdown restrictions. Jon Hudson, fund manager of Premier Miton UK Growth Fund, commented: ‘Inflation is likely to continue rising throughout the year as lockdowns ease, the economy recovers and various commodity shortages feed through to rising prices. The recent strength of...

<h2>Pound (GBP) </h2> The Pound (GBP) rose against many of its peers today after the latest UK growth data revealed that the UK had rebound in March, thanks to the Government’s extensive Covid-19 vaccination rollout programme. UK Chancellor Rishi Sunak celebrated the data, saying: ‘Despite a difficult start to this year, economic growth in March is a promising sign of things to come. As we cautiously reopen the economy, I will continue to take all the steps necessary to support our recovery.’ As a result,...

<h2>Pound (GBP) </h2> The Pound (GBP) exchange rate rose today following news that UK car sales had recovered in April, despite being down by over 12% against pre-pandemic levels. The Society of Motor Manufacturers and Traders (SMMT) commented on the data: ‘Demand is likely to be driven by a broad range of new models and powertrains, with confidence bolstered by the gradual reopening of the country.’ Confidence in the UK economy remains high, with falling Covid-19 cases and deaths currently in single figures....

<h2>Pound (GBP) </h2> The Pound (GBP) has continued to rise this week following the publication of the latest Confederation of British Industry (CBI) distributive trade index. The figure surged from -45 to 20 in April, buoying confidence in the UK’s retail sector. Fraser McKevitt, the head of retail at Kantar, commented: ‘There is a growing sense that the worst of the pandemic is behind us, and people are becoming more comfortable with venturing out to the supermarket. The past four weeks have been the busiest in...

<H2>Pound (GBP) </H2> The Pound (GBP) showed signs of recovery today as UK markets are becoming more optimistic about the state of Britain’s economy. Employers have now begun rehiring following months of begin unable to open due to Covid-19 lockdown restrictions. As a result, GBP investors are more hopeful that the economy could begin to recover as the joblessness crisis is remedied by the reopening of non-essential shops. Meanwhile, the latest UK inflation data for March showed a rebound thanks to rising fuel prices....

<h2>Pound (GBP) </h2> The Pound (GBP) exchange rate has weakened this week following the announcement that the Bank of England’s Chief Economist, Andy Haldane, would be leaving the bank next month. As a result, the Pound (GBP) suffered from concerns that because one of the bank’s more hawkish members is leaving, that the BoE could take a more dovish stance in the months and years ahead. In the absence of influential UK economic data today, GBP investors are instead monitoring the UK’s Covid-19 situation. Any...

<h2>Pound (GBP) </h2> The Pound (GBP) fell against the Euro (EUR) and the US Dollar (USD) today following the release of the latest UK Services PMI, which was revised down to 56.3. However, the UK’s business activity has picked up, with the latest PMI signaling rebound last month. Howard Archer, the Chief Economic Advisor to EY Item Club, commented on the report: ‘Encouraging news on UK economy as purchasing managers reported services activity improved markedly in March to return to clear growth despite...