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The headline Euro-zone CPI inflation rate increased to a record high of 7.5% for April from 7.4% previously, in line with consensus forecasts, while the underlying rate increased more than expected to a series-high of 3.5% from 2.9% in March. EU officials also continued to discuss energy policy with further…
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 Slumps as Russia Begins Restricting Gas Exports The Euro faced some significant pressure this week, with a notable selloff being triggered by…
The coming week could offer some salvation for the British Pound with the central bank meeting on Thursday. Slight whispers of a potentially larger than expected rate hike have started to circulate to counter the ever-rising rate of inflation. On the flip-side, an expected 25 basis point hike or a…
Yesterday saw traders remain in a generally cautious mood, with concerns about the interest rate/inflation outlook, war in Ukraine and the Covid situation in China all taking their toll. Safe-haven currencies such as the dollar continued to hold the upper hand on currency markets. At the same time, the euro…
Provisional data projected UK government borrowing to be higher than expected, the second-highest March deficit on record bringing the 2021/22 deficit to £151.8bn; 6.4% of GDP. The data will maintain UK economic concerns as debt interest payments will continue to increase and limit the government’s ability to lower taxes. The…
The Sterling Dollar rate briefly broke below 1.2700, touching 1.2698 – a level not seen since September 2020, leaving the pair vulnerable to further losses. The USD has benefitted from both hawkish fed speakers and weaker risk sentiment, and weaker than expected UK data last week also helped GBPUSD move…
EUR Emmanuel Macron defeated Marine Le Pen, securing another 5-year term in office. Fears of a far-right leader in France had weighed on the common currency for much of the last month, with EUR/USD reaching 25 month lows. The Macron win allowed the Euro to open higher and, although it…
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 spikes on Hawkish ECB comments The Euro received a shot in the arm this week following comments from European Central Bank (ECB)…
Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann stated that raising interest rates now means that less hikes are required later, noting inflation will likely stay above the 2% target for longer than expected. BoE Governor Andrew Bailey stated that the bank is treading a very tight…
Yesterday saw the main pairs continue to operate in relatively narrow ranges with the dollar modestly softer amid comments from Fed officials. This saw the euro and the yen regain some ground against the currency, having been on the defensive recently. Overnight though, the greenback recouped some of its losses….