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The Euro posted gains after Monday’s European open and maintained a firm underlying tone, although gains were limited into the US open. Markets were still concerned over the Euro-Zone outlook, especially given reservations over gas supplies and the EU energy commissioner warned that serious disruption to gas supplies is likely….

Economic Calendar 28/06/2022: EU – ECB Forum on Central Banking 28/06/2022: EU – CB Consumer confidence 28/06/2022: US – Gfk Consumer Confidence 29/06/2022: EU – ECB President Lagarde Speech 29/06/2022: UK – BOE Gov Bailey Speech 29/06/2022: US – FED Chair Powell Speech 29/06/2022: EU – ECB Forum on Central…

Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly exchange rate update.   EUR – Euro Sheds Gains on Disappointing PMI Figures The Euro trended broadly higher through the first half of this week, bolstered by some…

Investor sentiment across financial markets was holding a mixed tone yesterday. Over the past few days, in his semi-annual testimony to Congress, Fed Chair Powell has noted that raising rates too high too fast could plunge the US economy into recession. He went on to note this is a situation…

The Pound dropped after the UK inflation data release as the decline in underlying inflation gave rise to doubts whether the Bank of England would tighten policy aggressively. Sterling did manage to find support on dips with support below 1.2200 against the dollar amid evidence of short covering (buying to…

Sterling opened with pep in its step with a move to above 1.2300 against the dollar with further short covering. The Bank of England’s Chief Economist Huw Pill stated yesterday that the bank will continue to act if price pressures persist, but is aware of the risk of recession. Pill…

Sterling drew limited support from a steadier tone surrounding risk appetite, although there was still an important element of caution with this week’s rail strikes also a negative factor. Sterling settled just below 1.2250 against the dollar from highs near 1.2280 while the Euro consolidated close to the 1.1630 level….

Economic Calendar 22/06/2022: UK – YoY Inflation rate 22/06/2022: US – Fed Chair Powell Testimony 23/06/2022: US – Fed Chair Powell Testimony 23/06/2022: UK – S&P Global/CIPS Manufacturing PMI 24/06/2022: US – Michigan Consumer Sentiment   GBP Following a volatile week that saw GBP fall to 2-year lows vs USD, …

Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly exchange rate update. EUR – Euro Undermined by European Energy Concerns The Euro initially strengthened this week, buoyed by some hawkish comments from a European Central Bank (ECB)…

Yesterday saw monetary policy very much in focus as the ECB convened an ad-hoc meeting, to discuss current market conditions. It announced that PEPP proceeds will be applied flexibly across the eurozone to help economies struggling the most. The euro, which had been on the defensive recently briefly rose above…