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Christmas is known to be a quieter time in the FX markets, but there’s still a few ecostats due for release this week which might impact the pound to euro (GBP/EUR) and sterling to Australian dollar (GBP/AUD) exchange rates. Spanish retail sales data will be out today, and the annual figure is expected to improve in November to 0.7%, following the previous month’s -0.1% contraction. Meanwhile, France will release its unemployment benefit claims data which…
The pound sank to 1.12 against the euro (GBP/EUR) on Thursday and 1.73 against the Australian dollar (GBP/AUD) as Brexit stepped into tricky waters and UK consumer confidence slipped. Analysts had predicted UK sentiment would hold steady in December at -12, but the latest index showed a decline to -13 instead – a four-year low. Head of Market Dynamics at GfK which measures the confidence index stated: ‘We need to see several issues move on…
GBP – May and Cabinet begin to outline what Brexit will really look like Last week – UK inflation edged a little higher last week, coming in at 3.1% on the year in November, rather than remaining at 3.0% as forecast. November’s number is almost the highest figure for six years. – The pound was able to gain support from UK wage growth data which came in at 2.5% on the year – a leap…
The pound had a good start to the day on Thursday as it rose against the euro (GBP/EUR), US dollar (GBP/USD) and other major currencies, but still experienced some weakness against the Aussie (GBP/AUD) as trading went on. The British currency managed to climb as Theresa May experienced a political defeat regarding the final Brexit Bill. PM May had hoped that parliament wouldn’t be given the choice to vote on the final deal, believing that…
The pound climbed against other major currencies on Wednesday including the euro (GBP/EUR) after UK labour market data was released. Real wages jumped from 2.3% to 2.5% in the three months through October on the year. Excluding bonuses, average weekly earnings rose more modestly, from 2.2% to 2.3%. The increase was positive news to investors following inflation readings in Monday’s session which had shown consumer prices had leapt higher to 3.1% in November. Economist Ben…
GBP – Brexit deal shows sign of unravelling – sterling cautious Last week – Positivity surrounding Brexit negotiations started sterling off on the front foot last week, rising to a six-month high in trade-weighted index terms. – As the week opened, the pound to euro (GBP/EUR) exchange rate rose to a one-month high as Theresa May and Michel Barnier said talks were moving in the right direction. – Sterling rallied on Friday after Brexit…
The pound climbed against the euro (GBP/EUR) on Friday as the UK and EU made a breakthrough on Brexit. The GBP/EUR exchange rate managed to break the 1.15 level—a six-month high—as an agreement on the Irish border and other issues was reached, allowing talks to move onto trade. The pound to Australian dollar (GBP/AUD) exchange rate has reached highs of 1.7995. European Commission President Jean-Claude Juncker stated: ‘Both sides had to listen to each other,…
The pound remained in a tight range against the euro (GBP/EUR) on Wednesday as Brexit and geopolitical tensions weighed on the market. During the morning’s session, the pound slipped against other currency majors after Secretary of State for the UK’s departure from the EU, David Davis, announced that the British government hadn’t undertaken any sector-specific analysis that would indicate the impact Brexit would have on the economy. It was hoped this week would see Theresa…
GBP – Brexit talks continue Last week -Sterling made gains at the start of the week as EU negotiator Michel Barnier commented that Brexit talks could be close to a breakthrough. -The pound experienced some softness on the Bank of England’s (BoE) press conference following the stress test results as Mark Carney warned about a no-deal Brexit. The stress test showed Britain’s banks are equipped to withstand major economic shocks. -GBP/USD reached a two-month high…
The pound slipped lower against the euro (GBP/EUR) on Friday after breaching the 1.14 barrier on Thursday. The pound to Australian dollar (GBP/AUD) exchange rate had also been trending significantly higher in Thursday’s European session, and the pound to New Zealand dollar (GBP/NZD) exchange rate had managed to climb over 1.0%.The sterling exchange rate has been offered some support this week on account of Brexit negotiations – reports have suggested that Theresa May could offer…
