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• Business and Stock Market News

  Latest Economics Events

  • US: Factory Orders (MoM): 1.100 % (FXstreet.com: Latest Economics Events)
  • US: ISM Non-Manufacturing: 56.800 (FXstreet.com: Latest Economics Events)
  • MX: Consumer Confidence s.a: 94.000 (FXstreet.com: Latest Economics Events)
  • US: Average Hourly Earnings (YoY): 1.900 % (FXstreet.com: Latest Economics Events)
  • US: Nonfarm Payrolls: 243.000 (FXstreet.com: Latest Economics Events)

This Wednesday will see the release of the minutes from the last Bank of England meeting;
To cut a long story short the markets will be interested in if there were still any votes for a an interest rate rise (more votes is good for GBP versus other currencies) and if there were any votes on [...]

Swiss central bank announced a short while ago that they would not let the EUR/CHF rate fall below 1.2000

http://www.bankofengland.co.uk/publications/minutes/mpc/pdf/2011/mpc1108.pdf
2 memebers that voted for a rate rise last month have chnaged their stance to keep rates on hold – lower interest rate expectation great for mortgages but poor for GBP . GBP/EUR 1.1375 GBP/USD 1.6360 (At time of writing) down 0.7%.

This data hints towards a slowing down in the global economy which may lead to safe haven buying of the USD

BRITS BACK BUYING ABROAD AS STERLING SHOWS STRENGTH
With the British pound returning to health, a leading currency exchange broker is reporting a rise in overseas property investment.
The noughties saw property investment boom across Europe, but with an unstable Euro, CurrencyUK has seen property buyers look further afield for investment opportunities to South East Asia, South [...]

Controversial holiday home tax scrapped
21 June 2011
Almost as soon as it was mooted in parliament, the proposal to introduce a new tax on those with second homes in France has been scrapped. 
The decision by President Nicolas Sarkozy was made over the weekend under pressure from both English speaking expatriates and French nationals living abroad.
Currently, non-French [...]

This week’s financial headlines will be driven by the Chancellor’s budget on Wednesday. If newspapers reports are to be believed those of you who enjoy a glass of wine or a cigarette may feel the pinch – with it rumoured that 17 pence will be added to a pack of cigarettes and 13 pence to [...]

The mere rumour that a third person had voted for a rate hike had Sterling strengthening at the tail end of last week. If someone has moved camp and that person was the Vice Chancellor, it would show the extent of division amongst the committee.

The focus today is on nonfarm payrolls in the US. Indicators this week have been encouraging, with a 187K rise in the ADP employment measure,

Many will be listening to Jean Claude Trichet’s speech to try and get a handle on the ECB’s view on rate hikes although the likelihood of a rate rise today is minimal

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