Jul
28
House of cards for USD and EUR?
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I was rather surprised watching the BBC News last night cover the Libyan crisis, Afghanistan and the Olympic countdown, but no mention of the looming disaster if America fails to raise its national debt ceiling! Lets be clear, failure to reach an agreement would mean of Tuesday the US would not be able to pay [...]
Jul
20
Europe is on the precipice but EUR is not?
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The drama surrounding the Murdoch’s and the News International hacking scandal will once again steal the headlines this morning, but don’t let this distract you too much from the intensifying Euro debt crisis.
Senior market analysts are clamouring to point out that politicians dragging their heels are threatening to make this European debt crisis into a [...]
Jun
10
Poor end to the week for GBP
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The difficulties on our high street were laid bare yesterday when the owner of the Argos chain said that sales of TV’s, iPods and audio equipment had fell by up to 25% over March and April. This news also coincided with a major survey showing that 40pc of consumers had made “significant” cutbacks since the [...]
Apr
6
Some positive news for GBP sees it move higher vs USD
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There was an unexpected piece of good news with yesterday’s services PMI surging to a 13 month high of 57.1 in March from 52.6 in February – with anything above 50 indicating growth. This 4.5 point rise in the index is the second biggest increase since the survey started in 1996, only exceeded in January [...]
Mar
29
GBP still down
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After a quiet day yesterday when I was at pains to find something to write about, today’s raft of UK data releases provides me with a little more material to work with. At 9.30 the latest Q4 GDP figures were realeased. This showed a conttraction of 0.5% in the last quarter of 2010 – fractionally [...]
Mar
25
GBP falling further
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After a week full of significant UK releases including inflation, the Budget and the MPC Monthly minutes it was the turn of retail sales to make the headlines and for all the right reasons. A gloomier than expected 0.8% decline in sales was announced with consensus forecasts only expecting a 0.6% fall – which isn’t [...]
Mar
22
BOE between a rock and a hard place
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The CPI Inflation figures are released this morning at 9.30 GMT and they may prove difficult reading for the Monetary Policy Committee. If as forecast the figures show the cost of goods rising at 4.2%, it will mean British consumers are facing their fastest price increases in more than two years – at a time [...]
Mar
21
Wednesday = budget and MPC minutes
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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 [...]
Mar
7
EUR strength depends on Trichet speech today
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One of the main driving forces in the currency markets at the moment are interest rate rises, who is going to be the first to start the move back to more “normal” rates. The euro has started the week well holding onto gains made following ECB’s hawkish comments last week. With ECB president Jean-Claude Trichet [...]
Jan
5
GBP bouyant
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Risk on was the dominant theme on the first full trading day of the year in FX, with both Sterling and the Euro setting fresh highs in the wake of stronger than anticipated UK PMI manufacturing data, and hotter inflation readings from the Eurozone. Sterling rallied nearly two cents against the Dollar as risk appetite [...]

