Mexico News

<h2> Pound (GBP) Slumps as UK Manufacturing Output Falls to 17-Year Low</h2> The Pound (GBP) slumped on Monday after data revealed the UK economy shrank by -0.4% in April, and in the three months to April, GDP rose by 0.3%. Added to this data showed that the UK’s car manufacturing sector fell by 24% thanks to Brexit car factory shutdowns, which dragged overall manufacturing output down to a 17-year low. Meanwhile, think tank, NIESR warned that the UK economy could shrink by -0.2% in the second quarter of 2019 which...

<h2>Pound Sterling (GBP) Flat on Disappointing Economic Data and Brexit Anxieties</h> The Pound (GBP) remained subdued on Tuesday following a disappointing UK construction PMI which saw the index slump to a 13 month low. The Markit construction PMI survey revealed that clients held back on major spending decisions due to Brexit uncertainty and concerns about the economic outlook. Meanwhile, Sterling fell to a 20-week low against the Euro as weak data and growing fears of a no-deal Brexit weighed on the UK currency....

Pound Sterling (GBP) The Pound has continued to see relatively sturdy performance since markets opened this week and the British currency has been supported by strong UK housing data and hawkish comments from Bank of England (BOE) officials. Sterling remained appealing on Tuesday as BoE policymaker Ian McCafferty argued that another UK interest rate hike should not be delayed further. This boosted market bets that the BoE was preparing to hike UK interest rates again during its May decision next month. Demand for the Pound could...

Sterling The Pound (GBP) remained largely muted against the majority of its peers on Thursday as ongoing Brexit fears continued to hamper the currency. Recent concerns have focuses on the publication of the EU’s draft guidelines for the second stage of Brexit talks, as it suggest a ‘bespoke’ Brexit deal is likely off the table. However Sterling may be able to push higher at the start of Friday’s session as economists forecast the UK’s latest trade data will show that Britain’s trade deficit narrowed in...

Pound Sterling (GBP) The Pound has made a moderate 0.3% advance against the Euro today, in addition to surging by 0.8% against the US Dollar. This favourable performance comes after reports that UK quarter-on-quarter GDP grew in Q4 2017, while year-on-year growth slowed by less than expected. While this data has supported the Pound today, Darren Morgan from the Office for National Statistics has cautioned that; ‘Despite a slight uptick in the latest quarter, the underlying picture is of slower and uneven growth across the...

Sterling The Pound (GBP) slumped further against most of its peers today as investors reacted to the UK’s disappointing retail sales data. According to data released by the Office for National Statistics (ONS) retail sales fell sharply last month, plunging from 0.9% to -0.8% and falling well below expectations. Most of Sterling losses were prompted by concerns that the recent drop in sales would make a November rate hike from the Bank of England (BoE) less likely, especially following yesterday’s poor wage figures. Euro...

Pound Sterling (GBP) The Pound’s rollercoaster movement today has come from varying responses to a flood of Brexit news, which started on Thursday. At a joint press conference between David Davis and Michel Barnier, the two top negotiators gave contrasting reports. Davis struck an optimistic tone, but Barnier warned about encountering a ‘disturbing deadlock’. The Pound initially fell on this news, only to rebound on renewed hopes that there could be a Brexit transitional period. More recently, European Commission...

Sterling The Pound (GBP) appreciated against the majority of its peers at the start of the week as analysts predicted that the UK government would lose its Supreme Court battle to trigger Article 50 when it releases its ruling tomorrow. Sterling sentiment rose as investors reacted positively to the possibility that the government will now have to face a vote in parliament before it can invoke Article 50, potentially delaying Theresa May’s plans to trigger 'Brexit' by the end of March unless the government placates opposition MP’s by...

Pound Sterling (GBP) The Pound has been a mixed option during trading today, as while significant gains were recorded earlier on the back of manufacturing news, recurrent Brexit concerns have once again limited interest in the UK currency. The prior manufacturing-related data concerned December’s PMI, which beat predictions of stagnation by bouncing from 53.6 to 56.1. Although this was a strong positive result, detraction by pessimistic forecasts ultimately limited how supportive the news was. Among these were rekindled fears about...

Although the ‘Greenback’ was supported against higher-risk peers as a prominent Fed official added weight to the case for the Federal Reserve tapering stimulus before the close of the year the emerging-market Peso rallied in response to political developments. Mexico’s currency rose to a six-week high of 12.8768 against its US counterpart after the prospect of a more open national energy industry was supported by a joint bill compiled by representatives from both the ruling Institutional Revolutionary Party and the opposing...