Will the Pound strengthen this week?
The Pound reached multi-week highs last week after Chancellor Jeremy Hunt did his best at calming the markets with his Spring Budget release on Wednesday.
The capturing headline that the UK will not enter a technical recession this year’, as well as expectation of growth in the years afterwards, boosted the Pound heading into what could also be a volatile week.
The Bank of England will announce the next steps forward in terms of interest rates on Thursday, as the Monetary Policy Committee meet. Catherine Mann,...
Sterling hits two-month highs – how will today’s ECB decision impact rates?
Sterling had one of its most positive sessions of the year against the euro during yesterday’s trading. The pound hit two-month highs against the single currency following positive comments from Chancellor of the Exchequer Jeremy Hunt.
Hunt was in parliament to deliver the UK budget (Government Fiscal Plan) for 2023 and announced that the UK would avoid a recession in 2023. Hunt’s comments will not come as a surprise for many market analysts after a recent stream of positive or less than negative economic data...
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...
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...
Why has the Pound begun to improve against the Euro this week?
Major economic data releases helping the Pound, and causing disruption for other major currencies
This week we have seen the Pound benefit from several economic data releases, surprising the market with more positive than expected readings, as well as some weaker data coming out of the European bloc.
The Purchasing Manager’s Index reading, which is a great indicator of the UK services sector’s economic position, posted above 50 to signal that this sector is now expanding in the latest month, as well as the manufacturing and...
Will the Pound vs the Euro continue to fall this month?
UK Retail Sales show a decline and the impact on GBPEUR rates
The Pound Euro exchange rate has been slowly falling lower each day over the course of the week as the UK economy fails to provide much good news.
UK Retail Sales showed an increase of 0.5% in January after falling the month before according to the Office for National Statistics.
However, sales compared to twelve months ago showed a fall of 5.1%.
With consumers being heavily impacted in the UK by the cost of living crisis...
Pound Euro rate falls after Bank of England ECB Rate Hikes
Pound Euro Rates fall after UK Interest Rate Decision
The Pound Euro exchange rate fell from its recent monthly highs of above 1.14 into the 1.11 levels shortly after the interest rate announcement made by the Bank of England.
The current rate of UK inflation is at 10.2% but the central bank are expecting interest rates to fall to as low as 5.2% towards the end of 2023.
Although petrol prices at the pumps have started to fall recently, wholesale gas prices still remain relatively high.
This is...
Pound Euro exchange rates to experience an uncertain period in the weeks ahead
Uncertain period ahead for the Pound Euro exchange rate
The Pound Euro exchange rate has been drifting slowly lower during the course of the week so far as more pressure gets piled on the British economy.
With many strikes having taken place already and with further strikes scheduled over the next few weeks the UK remains in a very uncertain period.
Teachers, nurses, rail strikes to name but a few have all caused the government to make some difficult decisions in order to appease those sectors involved...
Sterling rallies after UK inflation stays high – Will the pound gain strength this...
The Pound rallied and saw some gains in the recent week finishing at 1.1423 against the Euro and 1.2392 against the Dollar. The pound strengthened after the UK labour market data on Tuesday displayed a new record high for UK wages showing the UK is nowhere near finished with high inflation thus putting pressure on the Bank of England (BoE) to raise the interest rate by 50 basis points.
This upswing in the Pound continued after Wednesday showing a smaller than expected decrease in inflation...
Why is the Pound dropping against the Euro?
Pound Euro close to 4 month lows
The Pound Euro exchange rate is now close to its lowest level since September of last year.
The Pound has been experiencing a difficult period vs the Euro for weeks since the start of December.
The sudden turn of fortune for Sterling could be attributed to what happened in early December.
The Bank of England hiked interest rates once again but the European Central Bank countered that by also hiking interest rates for the first time in months.
This could be taken...
