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Data from Europe was fairly light on the ground yesterday and as a result, the single currency was a victim of losses versus its most traded counterparts due to rumors that the European Central Bank (ECB) could undertake unconventional monetary easing measures. Against Sterling, we witnessed the pair retest the…
Bank of England Governor Mark Carney may have raised a few eyebrows yesterday during his press conference which followed the inflation hearings yesterday. Mr Carney went on record to say that the much anticipated rate hike will be over a “period of time”. Consequently, analysts’ predictions for the rate hike…
Yesterday’s European trading session kicked off with manufacturing and services PMI reports beating expectations, with the manufacturing reading coming in at 52.8 versus a 52.3 consensus and the services reading printing at 54.6 versus a 54.2 consensus. The manufacturing reading was the highest since April 2014, while the services report,…
The single currency weakened against the Greenback on Friday amid growing expectations of further stimulus measures from the European Central Bank (ECB). Its President, Mario Draghi, stated that “ECB monetary policy measures have clearly worked; growth momentum remains weak and inflation remains well below our objective of below, but close…
The Euro was remarkably resilient in the wake of Friday’s atrocities in Paris, sadly indicating that the markets are getting used to events like this. Whilst there was some price movement, the Consumer Price Index (CPI) figures made less of an impact than usual despite showing a small improvement. The…
With no data releases worthy of a mention on Friday, the Pound was at the mercy of the markets and data from other nations dictated price action. As a result, Sterling traded firmer versus the Euro following the sharp losses on Thursday. However, this doesn’t come as a surprise as…
Throughout yesterday, the week’s momentum was maintained which resulted in the second consecutive day of losses for the Dollar. Dollar bulls, however, won’t be too worried, not even after witnessing the breach of what was considered a key psychological level versus Sterling. It seems that each time USD concedes some…
On the Sterling front, more gains were made versus the Euro on the release of Wage and Inflation data at 9.30am, jumping 0.6% – from 1.4080 to 1.4169. UK unemployment unexpectedly dropped to a new low of 5.3% in September data, down from 5.4% in August and July’s 5.5%. The…
With a lack of UK-centric data yesterday, Sterling made ground on the Euro following the recent fall resulting from Mark Carney’s comments on delaying any interest rate hike. Opening at 1.4064, it steadily rose 70 pips throughout the day. It was a calm trading day. Even with brief spikes when…
On Friday the US produced stellar Nonfarm Payroll data, much stronger than expected. Payrolls increased by 271K, the highest monthly growth this year.The unemployment rate dropped to 5% and wage growth (2.5% Year on Year) accelerated. This greatly boosts the case for a December interest rate hike by the Federal…