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The amount of money that individuals in the UK borrowed in January increased £1.8B, in comparison with £0.9B in December, according to data released today by the BoE. Is this a good or bad thing? Well it shows an average increase in confidence in the UK economy which is has given GBP a small boost [...]

Germany’s Angela Merkel won a parliamentary vote on the Greek aid package after warning German lawmakers that pushing Greece out of the euro would risk “incalculable  damage”. The vote revealed dissent in her coalition with 496 members voting in favour of the €130 billion package, however, 90 voted against it with a further 5 abstaining.
Merkel’s  government pushed [...]

The German parliament votes today to endorse the new Greek bailout package. A positive outcome is expected despite additional pressure following the G20 decision at the weekend. No additional funds will be provided by the IMF until Eurozone countries increase the size of their own firewall.
Meanwhile, the second release of UK GDP for Q4 2011 [...]

The Euro strengthened further across the board yesterday on the back of strong German IFO figures but stayed around the 1.1800 level versus Sterling. This support coming from the CBI manufacturing data which showed orders rising to their highest levels since August and consequently giving the pound support.
The Greek situation goes on and on with [...]

We witnessed some sharp re-adjustments yesterday on the back of the MPC meeting with an immediate sell-off of Sterling. GBP/USD dropped below $1.5650 and GBP/EUR now resting around the 1.1800 level.
The outlook for monetary policy is back in focus for the Euro with the outcome of an agreement on the second Greek bailout package. Indeed, prices are [...]

The EU agreement on Greece failed to convince markets yesterday. European equities fell almost from the off however US and overnight indices painted a slightly better picture. Hence Europe should open on the same footing. Commodity currencies have hit a ceiling with AUD and NZD in particular meeting resistances.
In the UK, the Bank of England [...]

After Euro zone finance ministers exchanged their views on how to resolve the lockout between Greece and the size of haircuts to be taken by its private creditors, at almost 3 am in Brussels they appear to have reached a deal that will see Greece being financed by 130 billion euros as they plan to [...]

Eurozone finance ministers are due to meet today to decide whether Greece has done enough to merit its second tranche of bailout funding. Greek Prime Minister, Lucas Papademos, was in Brussels over the weekend to try to clinch the €130 billion deal and reassure Eurozone officials that sufficient austerity measures will be put in place. [...]

The euro rallied to $1.3150 against the dollar as markets decided that further progress on a Greek debt write down was being made and this saw a rise in investor confidence – particularly on the Dow Jones.
UK retail sales have been extremely volatile as of late. Headline sales rose by 0.6% in December having fallen [...]

The Eurozone crisis continues to weigh, overnight equities underperformed and in all this the USD has become the currency of choice. Yesterday’s much anticipated employment figures and BoE Inflation set the tone for GBP and within the subsequent statement, governor King noted that there continued to be challenging times, substantial headwinds, downside risks and that [...]

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