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At the London opening, GBP/USD is managing to maintain above 1.2400 despite last week’s inconsistent data releases which highlighted the UK’s current economic fragility. Hopes of future stimulus from UK PM Rishi Sunak in March’s budget announcement keep the pound supported, in what is otherwise a quiet start to the…
Bank of England Governor Bailey stated that the bank of England isn’t endorsing a 4.50% peak in interest rates but was more optimistic over the prospects of inflation falling quite rapidly from late spring. Although a UK recession is expected, Bailey predicts it to be relatively shallow by historic standards…
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 Volatile amid ECB Rate Hike Doubts The Euro tumbled in the first half of this week, in response to a Bloomberg…
Sterling continued to edge higher following the latest UK inflation data. Although the headline data was in line with expectations, markets tended to focus on the increase in services-sector inflation with expectations that sticky inflation would lead to the Bank of England maintaining a more hawkish policy stance to curb…
18/01/2023 GBP – Inflation Rate YoY JPY – BoJ Interest Rate Decision EUR – Core Inflation Rate YoY USD – Retail Sales MoM 19/01/2023 EUR – ECB Monetary Policy Meeting Accounts UK CPI (inflation) inflation report confirms inflation remains firm. 0.5% interest rate hike likely in Bank of England’s February…
16/01/2023 USD – US Holiday (Martin Luther King Day) GBP 17/01/2023 EUR – Germain Inflation Rate YoY EUR – ZEW Economic sentiment 18/01/2023 GBP – Inflation Rate YoY JPY – BoJ Interest Rate Decision EUR – Core Inflation Rate YoY USD = Retail Sales MoM 19/01/2023 EUR…
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 Underpinned by Hawkish ECB The Euro found support through the first half of this week, with the single currency being underpinned…
Sterling rallied against the weak dollar, but hit selling above 1.2200 and the Euro advanced to fresh 3-month highs just below the 0.8900 level. US consumer prices declined 0.1% for December compared with expectations of no change while the year-on-year inflation rate declined to 6.5% from 7.1%. This was in…
12/01/2023 USD – Core Inflation Rate YoY 13/01/2023 UK – GDP YoY EUR capitalised on yesterday’s ECB commentary while US Treasury bond yields dampened expectations for USD. US Inflation report out this afternoon Yesterday saw no less than 3 members of the ECB comment on future monetary policy,…
Following Fed Chair Powell’s comments at yesterday’s International Symposium on Central Bank Independence, recent USD strengthening failed to gain traction. He disappointed the markets by keeping quiet on potential future monetary policy – only suggesting that the central bank needed to stick to its current mandate. This led to rising…