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03/02/2023 US: Non Farm Payrolls (Jan) US: Unemployment Rate (Jan) US: ISM Non-Manufacturing PMI (Jan) GBP/USD is struggling for a defined direction, while GBP holds above the 1.2200 support level early in the Friday session. Thursday’s Dovish BoE policy statement following the interest rate decision, combined with cautious market…
The Pound ebbed lower yesterday with an underlying lack of confidence and expectations of dovish guidance at Thursday’s BoE policy meeting. Sterling fell to 1.2300 after lunchtime and eventually hit lows around 1.2270. The Euro posted a strong advance to around 1.1275. The Federal Reserve increased interest rates by 0.25%…
EUR/USD German retail sales slumped 5.3% for December compared with expectations of a small increase which undermined confidence in the outlook and the Euro dipped lower after the European open. The Euro-Zone recorded a 0.1% GDP increase for the fourth quarter of 2022 compared with expectations of a 0.1% decline….
Sterling held firm at the open yesterday with a further test on breaking above 1.2400 against the US dollar. Although UK equities rebounded quickly from initial losses, overall risk appetite was slightly more cautious with US futures moving lower and this limited the scope for Sterling purchasing. The Pound started…
The early Monday European session has seen GBP vs USD come under some pressure. A shift to a more “risk off” mood in the market has led to flows towards the safe haven (USD) and as such, GBP is struggling to gain traction. Last week saw that US inflation is…
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 Gains Tempered by Ukraine Concerns The Euro initially got off to a strong start this week as the Eurozone’s latest PMI…
GBP The CBI retail sales report recorded a headline reading of -23 for January from 11 previously and well below consensus forecasts of -5. Retailers also expect sales to decline in February, but at a slower rate. Supplier orders declined again and stocks remained too high, reinforcing near-term concerns over…
26/01/2023 US: GDP Growth Rate QoQ Adv (Q4) US: Durable Goods Orders MoM (DEC) 26/01/2023 US: Core PCE Price Index YoY (DEC) US: PCE Price Index YoY (DEC) This morning GBP/USD is struggling to hold onto yesterday afternoon’s gains above 1.2400, after breaking through this strong resistance level. Yesterday’s…
Sterling slipped straight out of the traps with a negative reaction to the much larger-than-expected government borrowing figures for December. The UK manufacturing PMI improved to a 4-month high, but there was a dip in the services index (80% of the UK economy) to a 24-month low of 48.0. Services-sector…
Sterling failed to capitalise on headway made in the early hours of Monday morning and dipped to lows around 1.2325 against the dollar by market open. There were also further reservations over near-term UK economic trends. The Euro also drifted lower against the Dollar. The Bundesbank stated that the German…