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Will Trump’s Infrastructure Plans Boost the USD? UK Inflation and Australian Labour Data Ahead

13 February 2018 In: Finance, Economy, General

GBP – Sterling snaps back from BoE gains Last week – The pound spiked last week after the Bank of England (BoE) hinted that UK interest rate hikes might happen sooner than markets expect. The central bank revised its growth forecasts higher and suggested inflation will remain above target. The pound briefly jumped above 1.40 barrier against the US dollar (GBP/USD) on the comments, while climbing by over 1.0% against other currencies such as the…

GBP/EUR, GBP/AUD Exchange Rates in Tight Range Ahead of BoE Interest Rate Decision

08 February 2018 In: Finance, Economy, General

The pound has softened in recent sessions as Brexit continues to weigh and market volatility heightens. Additionally, sterling is softer ahead of the Bank of England’s (BoE) interest rate decision. It’s possible a few policymakers will vote to increase interest rates; Michael Saunders and Ian McCafferty are historically the most hawkish members of the Monetary Policy Committee (MPC). Many investors are expecting the central bank to revise rates higher to 0.75% at some point in…

GBP/EUR Remains Higher, GBP/AUD Jumps, UK Manufacturing Disappoints

01 February 2018 In: Finance, Economy, General

The pound continued to bounce back early in Thursday’s European trading, residing around 0.30% higher against the euro in the region of 1.1470. However, as the session continued and economic data hit the market, the pound eased back slightly. British economic data showed the UK’s manufacturing sector had slipped in January, with Markit’s latest index coming in at 55.3, after December’s 56.3 (which has been revised lower to 56.2). Growth in the sector slowed to…

EUR/USD Strengthens after ECB Meeting, GBP/EUR, AUD/USD Climb

26 January 2018 In: Finance, Economy, General

The pound to euro (GBP/EUR) exchange rate continued to register gains on Thursday, despite a surge in the euro against other currency majors following comments from European Central Bank (ECB) Chief Mario Draghi. The euro was able to extend its three-year high and break above the 1.25 mark against the US dollar (EUR/USD) as the ECB President was upbeat about the currency bloc’s recovery. The US dollar has fallen further this week after US Treasury…

GBP/USD Breaches $1.39 on Brexit Optimism as US Government Shuts Down

22 January 2018 In: Finance, Economy, General

GBP – Brexit optimism boosts sterling Last week – Last week UK inflation softened from 3.1% to 3.0% in December’s reading showing the squeeze in UK households was lessening. – The close of last week saw the pound fall against major currencies such as the US dollar as UK retail sales numbers disappointed markets. In December, UK retail sales fell from 1.5% to 1.4% despite forecasts to rise. – Throughout the week rumours of a…

GBP/AUD, GBP/EUR Exchange Rates Lower on UK Retail Sales, Australian Unemployment Rises

19 January 2018 In: Finance, Economy, General

The pound exchange rate softened against the euro (GBP/EUR) and Australian dollar (GBP/AUD) on Friday after UK retail sales fell short of predictions. Markets had expected to see a rise from 1.5% to 2.6% on the year, but actually, the reading slumped to 1.4%. The month of December showed a -1.5% contraction, rather than the -0.6% drop economists had forecast. The fall in retail sales in December has been accredited partly to the previous month’s…

GBP/EUR, GBP/AUD Climb as Markets Anticipate a Softer Brexit, Australian Employment Data Ahead

18 January 2018 In: Finance, Economy, General

The pound has been trending higher against the euro (GBP/EUR) and Australian dollar (GBP/AUD) on Wednesday afternoon as news that a softer Brexit might occur kept investors interested in sterling. Rumours that Spain and the Netherlands want a soft Brexit for the UK and strong ties after the UK leaves the EU has helped to buoy the British currency, which has recently achieved its highest level against the US dollar (GBP/USD) since the Brexit vote….

Exchange Rate Forecast: GBP/USD Above 1.37, AUD/USD and NZD/USD at Four-Month Highs

16 January 2018 In: Finance, Economy, General

GBP – Pound breaches 1.37 versus US dollar Last week – The UK’s industrial production figure noted 0.4% expansion in November, but on the year, the data dropped from 4.3% to 2.5%. – UK manufacturing fell from 4.7% to 3.5% on the year in November, while construction output showed 0.4% annual growth. – Towards the end of the week, the British currency rallied to its highest level since the Brexit referendum against the US dollar,…

Pound Sterling Exchange Rates Jump on Soft Brexit Possibilities

13 January 2018 In: Finance, Economy, General

The pound climbed against a host of other majors on Friday, including the euro (GBP/EUR) and US dollar (GBP/USD). Sterling’s rally came after news that European countries Spain and the Netherlands would be open to the UK having a softer Brexit. Today Bloomberg reported that Spanish and Dutch finance ministers are going to work closely in an attempt to obtain a Brexit deal that allows the UK to remain as close to the European Union…

GBP/EUR Slips Below 1.13, GBP/AUD Above 1.72, after Mixed Bag of Economic Data

10 January 2018 In: Finance, Economy, General

It’s a big day for the UK concerning economic data with a host of influential ecostats flooding the market this morning. However, the raft of data has given a mixed bag of results; UK industrial production has fallen on the year from 4.3% to 2.5% in November (better than the 1.8% forecast), and the seasonally adjusted construction output number also remained above expectations of -1.0%, and resided at 0.4% in November, falling from the previous…

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