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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…
The UK jobs release suggested that the labour market is cooling and overall sentiment surrounding the UK economic outlook remained pessimistic which undermined the Pound significantly. While another 25-basis point hike is expected at the Bank of England meeting tomorrow, the path for future tightening remains unclear. Renewed calls by…
There was further hawkish messaging from ECB officials with council member Kazimir opening a clear need for a 50 basis-point rate hike in September. The Euro was unable to gain support from higher yields amid concerns over the risk of a surge in peripheral yields. The dollar continued to gain…
Economic Calendar 13/06/2022: UK – GDP YOY 14/06/2022: EUR – Germany Inflation Rate 14/06/2022: EUR – ZEW Economic Sentiment 14/06/2022: UK – Unemployment Rate 14/06/2022: US – PPI MOM 15/06/2022: US – Fed Retails Sales MOM 15/06/2022: US – Fed Interest Rate Decision 16/06/2022: UK – BOE Interest Rate Decison…
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 Rocked by ECB’s Forward Guidance The Euro traded in a wide range this week, fluctuating through the first half of the week…
Norway is often the runner-up or winner in various “the best country for” competitions. It is one of the richest countries in Europe and definitely one of the most innovative ones but is Norway really the best country to conduct business activities in? SAFE AND PREDICTABLE Norwegians are well…
The Euro fell against both the US Dollar and Pound Sterling during the course of yesterday’s ECB June monetary policy press conference delivered by Bank President Christine Lagarde. The European Central Bank initially sent a clear message of intent in which it signalled a 25 basis point rate hike in…
Yesterday, the euro managed to generate some upward momentum in the lead up to the ECB meeting. This is reflected in EUR/USD opening this morning back up at the $1.07 threshold, EUR/GBP has also edged higher to the midpoint of the 85-86p trading band. Elsewhere, GBP/USD is changing hands in…
The UK Services Purchasing Managers Index for May edged higher from estimates but thankfully still revealed a sharp slowdown from April’s reading of 58.9. Increases in costs were the strongest since the survey’s started (in ‘96) and prices charged by service providers grew at the fastest pace on record, both…
There were no major economic data releases on Monday and overall conditions were relatively subdued, especially with market holidays in Germany and France and the UK. The Euro held steady in early Europe, but was unable to make further headway and gradually lost ground as the dollar posted net gains….