UK Economic Data Alert : Will the Pound Rise or Fall on the Budget?
Whether the pound will rise or fall on the budget is a good question for such a key economic announcement, particularly with this year's coming at such a poignant moment.
History will surely judge these 'interesting' economic times as the UK narrowly avoids recession but is experiencing record high inflation and serious labour force unrest, as a result of a cost of living crisis which looks likely to be a key factor in the anticipated change at number 10 come the next election.
Expectations can be high...
Sterling exchange rates climb in the lead up to tomorrow’s Spring Budget
Sterling saw gains yesterday to start the week and this trend has continued this morning, with GBP/EUR almost reaching 1.1400 earlier today.
A break above 1.1400 would be a 2-week high and interestingly the GBP/EUR pair have found resistance the last 3-times this level was tested.
Despite tomorrow’s Spring Budget expected to be far less eventful than the Spring Budget last year, the financial markets are still cautious of the impact the Budget can have on financial markets so it’s worth being aware that the Budget...
Sterling, Euro & US Dollar news this week
Pound, Dollar & Euro news this week
The Pound started last week falling against both the Euro and Dollar but rallied towards the end of last week, will this continue ?
Dollar strengthened against the Pound to start last week after hawkish comments from the federal reserve (FED) chair Jerome Powell.
On Tuesday the 7th of March Powell stated, “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated”.
This aggressive...
Sterling exchange rates remain under pressure despite upbeat data releases
During yesterday’s trading session the GBP/USD exchange rate dropped below the key 1.20 handle, even if only for a brief moment but it’s a sign of the Pound coming under pressure regardless.
The Pound has also lost some ground against the Euro and after spending some time trading in the 1.13’s and testing 1.14, the pair are now firmly in the 1.12’s despite some better-than-expected economic data releases out of the UK.
There has been a lot of talk and media headlines warning of a recession...
The Pound holds onto yesterday’s gains, but where to next for GBP exchange rates?
Sterling exchange rates saw a small relief rally yesterday after news broke that the Northern Ireland Brexit deal has been agreed between the UK and the EU.
After recently dropping below 1.20 against the US Dollar, which is a key threshold the GBP/USD pair broke back above this level with the Pound climbing by roughly 1% against the US Dollar. There were also gains for the Pound against the Euro although not to the same extent. GBP/EUR remains in the 1.13’s with the pair remaining...
Will the Pound continue its recent run of form next week?
Pound vs Euro remains strong this week
The Pound Euro is close to its best rate to buy Euros in a few weeks after a solid start to the week.
The Purchasing Manager's Index helped to demonstrate that the UK economy is faring a little than many may have expected including myself.
After having recently avoided a recession in the UK there are a few bright shoots appearing at the moment.
However, with inflation still causing a huge problem for consumers at the moment there are still a...
Will the Pound continue to fall against the Euro & the US Dollar?
Sterling begun the week in a subdued fashion and traded within a very thin range throughout yesterday’s trading session.
There was little economic data released pertaining to the UK economy outside of housing data, which showed that property prices rose by just £14 between January and February which is the smallest increase reported by Rightmove since the property website begun recording property prices.
Throughout the day GBP/EUR barely broke a trading range of 25 pips, and this morning this trend of thin ranges has continued although...
Sterling continues to climb but will this week’s data releases reverse this trend?
Sterling has managed to climb back above the 1.1300 trade level against the Euro and so far this week, it’s managed to remain above this level thanks to some better than expected data released this morning.
The GBP/EUR rate fell below 1.1150 earlier this month when the Bank of England hiked interest rates as expected to a base rate of 4%, but provided a dovish commentary in the minutes afterwards which put pressure on the Pound’s value.
Sterling has recovered against the Euro, and the US...
Pound starts to recover against the Euro
The pound managed a surprising recovery during the week to the 10th February, against the Euro the pound managed to climb 1 ¾ cents from the week opening to the week close (1.1160- 1.1330). Against the Dollar the pound managed to claw back a similar amount with the week high topping out just under the 1.22 handle.
As previously mentioned in these reports, the week prior saw a heavyweight clash from the 3 central banks, where the doubt was cast over the future of the...
Sterling exchange rates are the biggest loser after last week’s interest rate changes
Although recovering to a certain extent from the multi-month lows seen late last week, the Pound appears to be now trading within new trading ranges after last week’s interest rate increase from the BoE (Bank of England).
In regards to the GBP/EUR exchange rate, it has been trading between 1.1300 and 1.1400 in the lead up to BoE monetary policy updates for good few weeks but now that the announcements have taken place we’re seeing new ranges.
At the time of writing GBP/EUR is trading just...
