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  • Category Archives: Daily FX market news

    A little simple information on what is moving the markets

    Interesting Interest – GBP/EUR rises, GBP/USD falls

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    Inflation remained an unsolved puzzle after the Bank of England meeting

    Yesterday’s Bank of England minutes did not surprise, with no change made to our interest rates just yet. As we touched on yesterday, the conversation behind the decision will be the interesting part – to find out if we have any break away members who are trying to voice a sooner interest rate than otherwise Continue Reading

    Bank of England Meeting today to discuss rising Pound

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    Gold Reserves in the Bank Of England

    Although the Bank Of England meeting is a significant economic event, it’s been a long time since we saw any changes in the monetary policy of the regulator, and thus any reactions of the currencies.   This time most probably will be not an exception, as the recent comments from officials confirm the central bank’s Continue Reading

    Spain To Create Tax On Bank Deposits

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    Spain to create tax on bank deposits

    According to financial website Zero Hedge, Spanish Budget Minister Cristobal Montoro announced that a tax on bank deposits is to be enacted.   Montoro elaborated further by stating that advances are to be boosted by almost €3.9billion, in a move that many are comparing to the situation in Cyprus.   This news follows on from Continue Reading

    Your move, Yellen

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    Janet Yellen's turn against Draghi

    With the markets trading fairly steadily during yesterday’s sessions, we will get some movement from today’s FOMC minutes no doubt. Certainly, the question will be ‘How much emphasis will there be on recent better data and the approach of the Fed’s targets in inflation and employment’?   June saw the Fed slash growth forecasts after Continue Reading

    GBP Still Celebrated as Leading Currency

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    As US markets re-open, GBP maintains its title as the 'Leading Currency'

    The Americans get back to work today after celebrating their independence, which resulted in rather thin trading on the currency markets.   The Pound is still being celebrated as the leading currency, which is great news for holidaymakers where those who choose to travel to the States (like me) will see an increase of over Continue Reading

    The Dust Settles: US payrolls and ECB rate results

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    The dust surrounding ECB rates and USD payroll data settles

    So after a big day on the economic data front, let’s recap to see what went on with the European Central Bank meeting and Mario Draghi’s comments and the US Non-Farm Payrolls and Unemployment data in particular.   So the ECB last month cut their interest rates both in their deposit rate and their benchmark Continue Reading

    An Extremely Rare Coincidence – ECB rate decision & US non-farm payrolls released today

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    An Extremely Rare Coincidence

    Today is a huge day for market data as we see the extremely rare coincidence that the ECB rate decision – and subsequent press conference – and the US non-farm payrolls come out on the same day.   Traditionally, the US data comes out on the first Friday of the month but as tomorrow is Continue Reading

    The Fall Guy – GBPUSD climbs higher, Eurozone figures disappoint

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    The Fall Guy

    A day after revealing there was going to be no movement on interest rates, the Australian Dollar seemed to be making considerable gains until it was stopped firmly in its tracks by some exceptionally poor trade deficit figures. A sharp fall in export earnings, falling by 4.6% and downward revision to the April estimate contributed Continue Reading

    Higher and Higher – GBP/USD continues to rise, UK mortgage approvals at lowest

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    Strong GBP against USD

    It looks like Mark Carney’s plan to tighten up the housing market is starting to work, as figures out of the UK yesterday showed that number of final mortgage approvals in the UK fell to 61,700 in May, the lowest in almost a year.   We saw the Pound rise to over 1.7100 on the Continue Reading

    BoE Financial Stability Report results – new UK housing measures introduced

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    UK housing measures introduced by Bank of England

    Mark Carney seems to be quite comfortable in front of the TV cameras and certainly likes talking even if he may not always be completely consistent in what he says from one week to the next.   Yesterday saw the release of the Bank of England Financial Stability Report followed by a press conference. The Continue Reading