Three Key Events in a Vital 72 hours for GBPEUR and GBPUSD Exchange Rates
The beginning of this week in the UK was very sombre with Her Majesty’s funeral and a UK Bank Holiday. This meant UK markets were shut, and ensured a fairly sleepy start to the week from a currency perspective, with sterling still nestling in the doldrums following the poor Retail Sales data from last week.
The rest of this week looks far from calm however, with three key events that could trigger market movements for the pound, US dollar, Euro and many other currencies. The...
Pound rebounds following lighter than expected inflation figures
Wednesday’s trading session saw the pound on the front foot, gaining back some of the losses from the past week against a basket of currencies. Inflation data released in the morning showed price growth slowed in July for the first time since September 2021. Could this be a signal that the cost-of-living crisis has begun to ease in the UK?
The Bank of England stated last month that they expect inflation to peak at 13%. The drop in price growth does pose an interesting question...
Will the Pound Remain Steady after Surprise Dip in Inflation ?
The pound has been relatively steady today following a surprise dip in the headline Inflation numbers. In welcome news across the country, the number came in at 9.9% higher year on year for August, versus the 10.2% numbers from last month for July. The important point is the number has been trending higher since the beginning of the year so this marks a turning point and could potentially signal a change in policy ahead. Inflation is very influential on interest rates, and interest rate...
New Zealand Dollar Exchange Rate: Investors Flee Leaving NZD Behind
Into the middle of the trading week, the New Zealand dollar has fared no better over today’s Asian trading session. The Kiwi currency is still struggling to overcome the pressure put on it by the coronavirus crisis. The drop in NZD came as investors began as foreign investors cashed in their holdings in a flight to safety over the worsening state of the global pandemic. The kiwi was trading at 59.60 US cents at 5pm in Wellington, off the day's low at 59.13 -...
Minimal data out today for the U.K – European growth and U.S employment figures...
We have minimal economic data out for the U.K today, the Pound has remained fairly flat in early morning trading.
As the day progresses we do have other economic data releases from around the world that may impact the Pound against the Dollar, Euro and Canadian Dollar along with other major currencies.
At 10:00am today we have the release of European growth figures, expectations are for the quarter on quarter figures for the first quarter of 2018 to remain at 0.4% with year on year growth...
Italian political issues appear to be the main driver for currencies so far this...
The week so far has seen quite a lot of volatility for Sterling exchange rates, however the reasons for the Pound moving against most major currencies are not down to political or economic data from the U.K but actually mainly driven by Italian politics, Donald Trump and North Korea.
Italian politics has been one of the main focuses for the week for investors and speculators, as news broke earlier in the week that the two big winners from the election - Five Star and The...
What may the Bank of England interest rate decision lead to for Sterling exchange...
Following a reasonably quiet start to the week for U.K economic data anyone with a requirement to exchange Sterling into another currency or to exchange another currency back into Sterling may wish to keep a keen eye on exchange rates over the course of the trading day tomorrow.
At midday we have the release of the Bank of England interest rate decision and this will be key for the performance of the pound for the rest of the week.
The Pound had initially hit the highest...
Will the Bank of England raise interest rates? This will be key for Sterling...
The key to the performance of the Pound in the next few weeks will be the likelihood of an interest rate hike, which has dipped a little over the past week.
Bank of England Governor Mark Carney commented last Wednesday evening that economic data in the next few weeks will be key to whether or not the Bank of England will make their move and raise interest rates on May 10th.
Before these comments along with the low inflation figures that we received earlier that day,...
Sterling awaits unemployment and average earnings figures today in a change to the usual...
This morning we have the release of unemployment and average earnings figures for the U.K in a slight change to the usual schedule, as these figures have been released on Wednesday historically for many years.
They have been altered by the ONS (Office of National Statistics) have made the move as they would prefer unemployment figures to be released the day before Prime Ministers questions to give Parliamentarians the chance to review the figures before they are debated.
This should in turn mean that the release...
Sterling spikes against most majors – A good week for the Pound but will...
Sterling spiked against all major currencies in trading yesterday afternoon, hitting the highest point since June 2017 against the Euro and offering those looking to buy foreign currency in the near future a fantastic opportunity.
The Pound has been on a slow rise this year and yesterday’s further boost shows once again that confidence in the U.K economy and indeed the Pound, is rising, but we do still need to be cautious that it would only take one bad piece of economic or Brexit news...
