Filed Under Daily FX market news | Comments Off
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 [...]
Well who would want to be an MPC member right now? This morning, Ed Balls is cited in the press criticising King’s effective endorsement of the coalition’s austerity measures, they have critics claiming inflation is out of control and even a member of the MPC committee, Andrew Sentence, effectively saying policy has been wrong and [...]
If the ECB were to raise rates quicker than the BOE this has the potential to weigh on the GBP against the EUR although it is worth pointing out that the Euro zone sovereign debt crisis has still not been fully extinguished.
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
After a very poor start to the week, sterling has finally found some support which looks like it comes from weakness in the other currencies rather than actual pound strength … read more
Filed Under In depth discussion | Comments Off
Not to be considered advice but maybe food for thought…
After recent weakness against many of the majors, the Dollar is finally back in vogue it seems, at least looking at its performance over last week and into this week. New and fresh synonyms for ‘risk aversion’ and ‘risk appetite’ are becoming increasingly difficult to fabricate… read more
Risk remains very much the driving force for FX markets as they fret about the extent of slowdown in the US economic recovery and the state of the global economy. Concerns about Eurozone peripheral economies have also intensified again, putting additional pressures on the euro and preventing it from benefiting from Friday’s news of stronger than expected Q2 GDP growth. As result we have the weaker EUR and stronger USD.
On friday the one release which did make the markets take note was the surprising uplift in UK GDP, surging past the expected 0.6% QonQ increase to 1.1%, catching many by surpirse. There were several mitigating factors for this…read more
BP have just managed to get one PR disaster under control in the Gulf of Mexico, as another pops up with the Americans trying to implicate them in the release of the very resilient Ablesbaset al-Megrahi. America seem intent on pinning all their ills on BP…