UK Services Sector grows more than expectations
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 5, 2018
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Companies in Britain’s dominant services sector grew more quickly than expected in May after a winter slump in early 2018, but the approach of Brexit held back many companies, a survey showed this morning. The IHS Markit/CIPS services purchasing managers’ index (PMI) rose to a three-month high of 54.0 in May, better than a median […]
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Euro strengthens after Italy come to an agreement
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 1, 2018
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It has been confirmed that Giuseppe Conte will be the next Italian Prime Minister after the right-wing League party and the anti-establishment 5-Star Movement reached agreement on a Cabinet. A little-known economics professor Giovanni Tria will become Economics Minister. Meanwhile, the Spanish Government seems set to lose a confidence vote today, which will likely result […]
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Sterling hits a 6 month low against the Dollar
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 30, 2018
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The pound fell to a six-month low against a rallying dollar on Tuesday, while it held its own against a euro dragged down by concerns about a deepening political crisis in Italy. Sterling has slumped against the dollar since mid-April as expectations of a Bank of England interest rate rise recede and the economy shows […]
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UK GDP rises 0.1%
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 25, 2018
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Q1 Gross Domestic Product in the UK increased 0.1% in the second estimate, the Office for National Statistics announced this morning. This is unchanged from 0.1% quarter-to-quarter rise reported in the preliminary estimate. Comparing this to a year ago, the UK GDP increased 1.2% y/y, unchanged from the estimate. Within the structure on Q1 GDP, household […]
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UK Inflation data hurts the pound
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 24, 2018
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Sterling slid yesterday to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England raising interest rates this year. The pound had been one of the best-performing currencies in 2018 but it has given up all its gains for the year following a broad rally in the dollar and […]
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Dollar weakens after recent highs
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 14, 2018
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Sterling rose on this morning against the dollar which weakened against other majors. Investors focused on economic data that could help the pound recover after the Bank of England last week held rates and cut its growth projections. The rally in the dollar lost momentum after tame U.S. inflation data tempered expectations for a faster […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 11, 2018
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Today seems likely to be a quiet end to the week with no significant new economic data in either the Eurozone or the UK. Today’s second reading for April Spanish CPI inflation is expected to be unchanged from the initial reading. That would be consistent with no revision to the aggregate Eurozone measure due next […]
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Sterling continues to be volatile ahead of Thursday
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 8, 2018
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GBP dropped off today as many investors have continued to off-load the pound ahead of the Bank of England meeting this Thursday when the central bank is expected to keep interest rates on hold, and as worries about Brexit negotiations resurface. Tensions within Britain’s governing Conservative party over how to agree terms of exit from […]
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Sterling continues poor run
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 4, 2018
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Market probability of a rate hike from the Bank of England next week has dropped to less than a tenth from more than 90 percent a month ago. Weak survey data from Britain’s services sector for April rounded off a disappointing streak of economic figures starting with last week’s shock first quarter GDP data and […]
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UK Manufacturing hits a 17 month low in April
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 1, 2018
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Banks have pushed out their predictions for when the Bank of England will raise interest rates after data last week showed a sharp and unexpected slowdown in Britain’s economic growth. Expectations the British central bank would raise borrowing costs in May had already weakened after Governor Mark Carney highlighted “mixed” economic data and noted there […]
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