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It doesn’t take much to spook the markets at the moment, and even when optimism seems to be recovering, it only takes the overlapping of a few negative events to send investors scurrying for safe havens. Yesterday we got that overlap as China revised down growth in April, back to…
The yen remains a major beneficiary of any risk aversion moves, with the dollar briefly dipping below the Y85 level in the immediate aftermath of some poor US economic data. An unexpected rise in the number of new weekly claimants for US unemployment benefit was followed by news of a…
The release of the Monetary Policy Committee minutes yesterday morning initially gave sterling a good boost taking it up to 1.5688 against the USD but the gains were short lived with the pound closing back below the 1.56 level. The minutes were not as dovish as the market had expected…
International banks are cashing in on the back of their staff bonuses according to foreign exchange specialist, Currency UK. The company has seen a dramatic rise in bankers using its service to transfer bonuses, which have been paid in US Dollars, back into Sterling. Their employers have been charging British…
The Euro gained against the USD, bolstered by strong demand for an Irish bond auction and sale of Spanish treasury bills. However, the German ZEW investor confidence index dropped well below expectations, adding a question mark over the sustainability of the Eurozone economic recovery in the aftermath of the superb…
After an exceptionally strong performance last week where there was not one day that the Dollar did not appreciate against the Euro, Sterling and Kiwi Dollar, the greenback has finally given up some of its recent gains, losing around a cent against both Sterling & the Euro. Despite the view…
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…
Currency UK recently attended the Gdansk Grain Exchange, an extremely successful event for agricultural brokers, suppliers and buyers of grain. Whilst we were there the price for grain passed the 200 mark. This is a fairly significant event, the last time grain saw such movement was pre-recession mid 2007 (don’t…
This week contains the first Friday on the Month and that means the US non-farm payrolls release, after the run of poor US data this month’s release will be even more important than usual, and along with manufacturing data could dictate the tone of US markets thus month. The softer…
Despite the promise of large tax rises, and government spending cuts leading to job cuts, all it takes is a little bit of sunshine and football to make the UK consumer to forget about the coming troubles and to open their wallets. Yesterday’s strong retail figures, were the best in…