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GBPAt the start of trading this morning, it looks like the Pound is on the up from the dismal lows seen last week before the UK bank holiday. The trigger to the decline was the latest Survation opinion poll that showed the Conservatives on 43% and Labour on 37%. It…

GBPYesterday morning saw the UK first-quarter GDP growth rate revised down to 0.2% from the preliminary reading of 0.3%, with annual growth of 2.0% reinforcing concerns surrounding underlying growth trends. There was a slight recovery in investment spending for the quarter and mortgage approvals were in line with expectations. As…

GBPGeneral election campaigning has been suspended after the tragic events in Manchester. The lack of economic and political drivers has further dampened activity, but the major parties are expected to resume activities Friday. Sterling gained some initial support from the strength in oil prices, but there was further resistance on…

GBPThe Pound managed to leave behind the downside pressure coming from the Manchester blasts and apparent effervescence following discussions between the UK and EU over the ‘divorce bill’, which according to EU officials should be around €100 billion. In light of the terror attacks, Theresa May announced that the terror…

GBPThe Pound was unsettled yesterday by political considerations after opinion polls suggested the Conservative Party’s election lead had halved. A policy surrounding social care triggered some degree of uncertainty surrounding the potential outcome and has subsequently been removed from the manifesto. Forthcoming EU exit talks also raised concerns, hampering sentiment…

GBPThe UK CBI industrial trends printed the highest reading since February 2015 at 9, while export orders were at the highest level since December 2013. Sterling moved back above the 1.3000 level against the Dollar on Friday but failed to break above the 1.3050 level. The Euro tested the 1.1630…

GBPBumper UK retail sales data smashed expectations with a monthly volume increase of 2.3% compared with consensus forecasts of 1.0%. Sales were boosted by the impact of a late Easter and by warmer, drier weather. However, the impact of declining real wages generates expectations of a slower growth of sales…

GBPUK unemployment declined to 4.6% in the three months to March, the lowest rate since 1975, despite an increase of 19,400 in the claimant count for April. Average earnings increased 2.4% over the year from 2.3%, in line with expectations, and there was a 2.1% increase excluding bonuses. While the…

GBPUK consumer prices rose 0.5% in April, with the year-on-year inflation rate rising to 2.7% from 2.3% previously; the highest since June 2013. The core CPI rate increased to 2.4% from 1.8% and also above consensus expectations of 2.2%. The data initially boosted the Pound before almost immediately spiralling lower….

GBPUK Consumer prices, due this morning, are expected to accelerate to 2.6% in April year on year. Core figures, excluding volatile food and fuel costs, are also expected to arrive stronger at 2.2% in the reported month versus 1.8% previously. The Bank of England’s key 2% figure was exceeded. On…