May
27
EUR could suffer from same fate as USD
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Eurozone debt is a huge issue – to the extent that short selling bans have been put in place AND rumours of ECB interference in the FX markets has been heard. Today. 27/05/2010, we here that China is concerned over the issue and may beconsidering a sell off/diversification away from some of its Eurozone bonds… read more
May
27
GBP up as panic subsides
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For now the Pound seems to be holding onto it’s gains from the OECD optimism, and it is likely to manage to hold onto them throughout today…read more
May
26
Two Thirds Of Businesses Have Walked Away From The Bank
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Two thirds of UK companies have deserted their high-street bank and switched to alternative providers of ancillary banking services …read more
May
26
Pound still doing well vs Euro
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The Pound actually got some good news with the GDP estimate for Q1 raised from 0.2% to 0.3%, based largely on a rise in manufacturing output, although a fair bit of this came from stock rebuilding. There was also the Queen’s speech yesterday, which set out the coalition government’s legislative agenda…read more
May
25
EUR slides
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Concerns in the Eurozone were once again the order of the day for equity and currency markets throughout yesterday, and have continued as such early today. The euro came under renewed attack on Monday as concerns over Europe’s fiscal problems intensified after Spain’s central bank took control of a savings bank…
May
24
Pound suffers from volatility
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As many people get back to their desk this morning brightly patterned with patches of sunburnt skin, the good weather may be making them feel a bit more optimistic, and the markets are offering a little to sustain the mood. Last week, markets took a tumble as the Germany decided to unilaterally ban short selling …
May
21
GBP down against EUR but up vs AUD and NZD
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It was another day of turmoil in the markets yesterday as fears over the drag on global growth from the struggling Eurozone nations, and the seemingly ad hoc way that financial regulation is being introduced, has caused panic…read more
May
20
Euro wobbles but looks stronger now
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The minutes of the last MPC meeting, released yesterday morning, show that the central banks’ policy committee voted unanimously to leave UK interest rates on hold at 0.50% this month (having been at this level for over a year now)
May
19
Naked selling? GBP down EUR down further
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The big event of yesterday came after the close of European trading as Germany announced a ban on naked short selling 10 different German financial institutions as well as Euro bonds and credit default swaps…read more
May
18
No immediate cuts, GBP stays steady
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George Osbourne’s speech didn’t announce any immediate cuts, and was instead used to announce measures that had already been promised such as the timing of the emergency budget and the creation of a independent forecasting body, in an attempt to do something similar to Labour’s creation of the independent MPC…read more