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  Latest Economics Events

  • EMU: Purchasing Manager Index Manufacturing: 49.000 (FXstreet.com: Latest Economics Events)
  • EMU: Purchasing Manager Index Services: 49.400 (FXstreet.com: Latest Economics Events)
  • DE: Purchasing Manager Index Manufacturing: 50.100 (FXstreet.com: Latest Economics Events)
  • DE: Purchasing Manager Index Services: 52.600 (FXstreet.com: Latest Economics Events)
  • FR: Manufacturing PMI: 50.200 (FXstreet.com: Latest Economics Events)

Today is the last day of data before Christmas and one of the last in the year although it is primarily US data so again, little to help GBP and EUR

the European sovereign debt crisis continues, another day another downgrade

Sterling rose against a struggling Euro in light trade on Monday as the single currency was hampered by debt worries. Though the Euro is weaker across the board, gains for the pound are limited due to the exposure the UK itself has to the Eurozone. Holiday season does appear to be settling however in with [...]

Sterling had a largely indifferent performance yesterday, and indeed the day as a whole for the FX markets was fairly tranquil in comparison to the last few weeks. Retail sales data for the UK were as expected, and all of the data emanating from the US was almost identical to consensus forecasts…read more

 
Yesterday saw a volatile day across currencies as markets digested incoming news from the EU, and geared up for the results of the US FOMC meeting later today. The euro spiked higher on growing speculation that European leaders could take further measures to reduce sovereign debt concerns at an EU Summit later in the week. [...]

The pound looks set for an important week this week with inflation, unemployment and retail sales data due out, even as it continues to do fairly well against the single currency… read more

The Dollar’s recent rally appears to have run out of steam. The US government has struck a tentative tax deal with opposition Republicans whereby Obama will partially accede to Republican wishes to extend the Bush government tax cuts – implemented in 2001, worth some $800bn and due to expire December 31st – by two years. [...]

Sterling on the other hand has been having quite a positive week and was lifted by the UK manufacturing data released yesterday coming in ahead of expectations… read more…

The Euro appears to have found temporary reprieve over the last few days against the Dollar…read more

What is Purchasing Power Parity?
One of the oldest and most basic fundamental approaches to determining the “fair” exchange rate of one currency to another relies on the concept of Purchasing Power Parity. This approach says that an identical product should cost the same from one country to another, with the only difference in the price [...]

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