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Australia Living Costs rose 8.5% in March 2020, following a rise of 0.6% in February and a fall of 0.4% in January 2020. The following industries rose in seasonally adjusted terms in March 2020: Food retailing (24.1%), Other retailing (16.6%), and Household goods retailing (9.1%). Cafes, restaurants and takeaway food services (-22.9%), Clothing, footwear and personal accessory retailing (-22.6%), and Department stores (-8.9%) fell in seasonally adjusted terms in March 2020. The following states and…
Australian Dollar has recovered well and remains strong against other major currencies despite market turbulence caused by the coronavirus. It’s been a very turbulent time for global currencies recently, particularly the Australian dollar against the US Dollar. Despite steep losses in March the swift action taken by the Australian government in response to the virus has seen a strengthening of the Australian dollar, which hit a six-week high this week at 0.6535. Worldwide, countries are…
Coronavirus scams are on the increase and many people have fallen victim. Here’s a guide to latest scams and how to avoid them. Amid the fear and confusion of the current Coronavirus pandemic, scammers are out taking full advantage of scared and vulnerable people. In UK over £800,000 has been lost to Coronavirus scams since February 2020, according to reports made to the National Fraud Intelligence Bureau. The NCSC has also removed over 2,000 online…
The pound began Friday’s European trading climbing higher against other currency majors including the euro (GBP/EUR) and Australian dollar (GBP/AUD). The GBP/EUR exchange rate has managed to attain highs of 1.1378 (around +0.52% higher) so far in Friday’s session, as hawkish remarks from the Bank of England (BoE) regarding monetary policy have bolstered sterling. Bloomberg reports that the market-implied probability of the central bank increasing interest rates in the May monetary policy meeting has risen…
GBP – UK retail sales disappoint Last week – The pound dipped mid-week when the International Monetary Fund (IMF) said that the UK needed to up its production. The IMF said: ‘Directors agreed that structural reforms should prioritise enhancing productivity, inclusiveness, and external competitiveness.’ – On Thursday, the GBP/USD exchange rate breached the 1.40 barrier yet again as US dollar weakness continued following inflation data being published Stateside. – Sterling slipped on Friday when UK…
The pound and euro both began Thursday’s European session making gains against the US dollar (GBP/USD, EUR/USD) after US consumer prices failed to edge lower. US inflation came in at 2.1% instead of the 1.9% forecast, creating concerns in the market that the US Federal Reserve might begin aggressively hiking interest rates. The pound was able to breach the 1.40 barrier yet again, while the euro breached the 1.25 level. The pound was also in…
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…
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…
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…
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…
