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USDThe US Dollar fell sharply on Friday after data showed that the consumer price index rose 0.2% on a month over month basis in April. This was a modest improvement following the 0.3% decline in March. Economists polled were expecting inflation to rise 0.3% instead. Retail sales numbers were also…
GBPThere were no significant domestic developments yesterday but the Pound gained some net support from the sharp gain in oil prices and a firmer tone in commodity prices. There was also evidence of further short covering on any significant retreat. Super Thursday is upon us again and there are strong…
GBPWith the market focussing on the Bank of England’s (BOE) Super Thursday, investors have seemed reluctant to place big bets ahead of the event. Currently hovering around the 1.2940 level, the GBPUSD pair benefitted from a sharp rise in the British Retail Consortium Like-for-like Sales data for April 2017, coming…
GBPThe British Pound traded within a tight range yesterday as domestic attention set its sights on this week’s Bank of England meeting and an election campaign that’s is starting to gather pace. There are still many market participants that remain sceptical on how the UK economy will deal with a…
GBPCable has been trading just below the 1.3000 figure this morning, levels last seen in late September 2016, in light of the recent and strong rally. After advancing for the last four weeks, GBPUSD seems to have found some strong resistance for the time being, always against the backdrop of…
GBPSterling lost ground yesterday as rumours on the nature of the Royal announcement swirled. Sterling recovered with relief following news that Prince Philip would retire from public engagements. UK service sector PMI‘s strengthened to 55.8 for April from 55.0 the previous month; the strongest reading for four months. With all…
GBPThe Pound gained ground against a basket of major currencies as stronger-than-expected UK manufacturing data left the Pound buoyant, despite headlines suggesting Brexit talks are likely to be difficult. On the first day of trading after a long weekend across Europe, Sterling rose against the Dollar and the Euro amongst…
GBPThe UK Q1 GDP release disappointed, printing an increase of 0.3% compared with consensus expectations of a 0.4% gain and a 0.7% gain for the previous quarter. The services sector reflected a sharp slowdown; consumer spending fell but the manufacturing sector remained firm. Sterling sentiment suffered mildly due to fresh…
GBPSterling rose 0.8% against the Euro yesterday to trade at its best level since Sunday’s first round of France’s presidential election. Its gains were largely due to broad weakness in the Euro, which fell across the board after European Central Bank (ECB) President Mario Draghi said policy makers did not…
GBPGBPUSD has been largely restricted to a narrow trading range between 1.2770-1.2860 for the last week as investors have tried to gauge the impact of May’s victory in the June elections on Brexit negotiations. The polls released yesterday showed Conservatives maintaining a healthy lead with 49% support. The market is…