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There’s nothing on the UK calendar today, while there are some data releases from the US this afternoon. However, the data is largely second division and will unlikely have much impact on USD and hence GBP/USD as such we may well see GBP continue its slow slide versus the US…
Sterling fell from its recent peaks yesterday, following the labour market data and Quarterly Inflation report. However, market talk is that the move was related to positioning rather than anything particularly dovish from the releases. The employment data was mixed, the 3M/3M employment change was stronger than expected and actually…
It’s a busy morning of data and events this morning in the UK, with labour market data as well as the Bank of England’s Inflation Report and subsequent press conference from Mark Carney. Expectations are for a further decline in UK unemployment. Consensus expectations are for a decline to 6.8…
Ahead of tomorrow’s significant UK labour and inflation data, today will be quiet as far as GBP is concerned. However, there is still plenty of scope for other currencies to move around it. The German ZEW survey will be of significance today. Released at 10am (as you read) the ZEW…
Last week saw GBP storm to 1.2240+ as the Euro weakened. This was after ECB president, Mario Draghi, effectively confirmed the markets should expect some movement in monetary policy next month. Versus the USD, the pound retreated below 1.69 from recent multi-year highs. This week may give the pound an…
The ECB policy decision was yesterday’s focus. With no changes to the headline interest rate and no further stimulus announced, the Euro initially strengthened – repeating the pattern we have seen for 4 months now. However, the Euro nose-dived during the Q&A session, as Draghi ‘pre-committed’ to ease policy next…
Solid growth, combined with a strong euro (EUR/USD approaching 1.40) and below-consensus inflation readings, makes today’s ECB meeting especially tough to call. The composite PMI touched a new cycle high in April, led by solid service sector readings, especially in Spain and Italy, and private consumption is improving, as indicated…
The economic calendar is relatively quiet in European hours. The March set of German Factory Orders and April’s Eurozone Retail PMI figures headline the docket. These outcomes may not necessarily generate meaningful follow-through from the Euro however, with activity data likely playing second fiddle to the disinflation issue and its…
As widely expected, the Reserve Bank of Australia left its interest rate unchanged at 2.50%. The Australian officials repeated that the Aussie remains at historical highs, which is unfavourable for economic boost. GBP recovered some of last month’s losses versus AUD to just below the 1.8200 mark. Released yesterday, US composite…
The end of the month has arrived and a slow news week for the UK economy was typified by the reaction, or lack of it, to GfK Consumer Confidence which came out above expectations. In more startling releases out of the UK, house prices continue to increase and demand has…