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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…

UK Cabinet Reshuffle, US Inflation, and ECB Meeting Minutes Ahead

09 January 2018 In: Finance, Economy, General

GBP Exchange Rate Forecast – BoE survey ahead Last week – The pound slid at the start of last week against currency majors like the US dollar (GBP/USD) and Australian dollar (GBP/AUD) after weaker-than-forecast UK construction data was released. The Markit construction purchasing managers’ index (PMI) came in at 52.2 in December, even though economists had expected 53.0. This is the sixth fall in a row for this piece of data. – Later in the…

GBP/EUR, GBP/AUD Exchange Rates Higher After UK and EU Data, Australian Trade Deficit Widens

05 January 2018 In: Finance, Economy, General

The pound spent Friday morning in a tight range against the euro (GBP/EUR) and slightly higher against the Aussie (GBP/AUD) as economic data hit the market. The British Retail Consortium’s (BRC) shop price index contracted further in December on the year, declining from -0.1% to -0.6%. Shop prices fell further into deflationary territory on account of sales and discounts retailers offered on non-food products, and came as the most extensive fall since March. Meanwhile, food…

AUD/USD at Multi-Month Highs, GBP/USD Above 1.35, USD Softens Broadly

04 January 2018 In: Finance, Economy, General

Pound breaches 1.35 against US dollar (GBP/USD) Last week – In the last week, the pound has crept above the 1.35 level against the US dollar as a softer buck continued to trend in the market. This comes just over a week after US President Donald Trump signed his monumental tax bill that had been a hot topic throughout 2017. – The pound noted some gains over the festive period, marking multi-day highs against some…

Q4 Review of the Australian Dollar (AUD) Exchange Rate

29 December 2017 In: Finance, Economy, General

China Links A few times this quarter the Australian dollar has fluctuated on data from the nation’s largest trading partner, China. For instance, China’s service activity slumped to a 21-month low in September at only 50.6. Any figure above 50.0 shows growth, a figure below denotes contraction. For contrast, August had resided at a healthier 52.7. On the flip side, China’s imports rose nicely in September to 19.5% on the year – a factor that…

GBP/EUR, EUR/AUD Exchange Rate Forecast

27 December 2017 In: Finance, Economy, General

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…

GBP/EUR at 1.12, GBP/AUD at 1.73 after Confidence Data and Brexit Bank News

21 December 2017 In: Finance, Economy, General

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…

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