GBPEUR Showing Weakness Despite Strong Data

Sterling Exchange Rates Rally

GBP exchange rates have rallied today in a trend very much against the the recent trading conditions the market has been experiencing. Much of the movement can be attributed to the much better than expected PMI (Purchasing Managers Index) figures released at 09:30 this morning. PMI data came in at the best in over a year and indicated towards solid first quarter GDP growth giving impetus to an earlier interest rate hike in the UK than many had expected. This led to the pound gaining over 1...
Pound exchange rates up following positive Brexit news

Sterling Euro Forecast Predicts Pound To Remain Weak

Sterling exchange rates are likely to remain very weak versus the Euro if the Eurozone does raise interest rates this week.  The risk for anyone buying Euros will be if the anticipated interest rate hike is bigger than the expectation of a 0.25 point increase. Comments from Jean Claude Trichet early last month about the need for a modest increase, whilst not part of a series of hikes, really boosted the Euro against the Pound and the Dollar, and given that both the latter currencies...
GBPEUR Showing Weakness Despite Strong Data

GBP EUR – Data out today

This morning sees the release of PMI (Purchasing Managers Index) data for both the U.K and the Euro Zone, Europe stepping up first at 09:00 and the U.K following shortly after at 09:30am. I would imagine whoever performs the better of the two should gain ground on the other, however the market moves on rumour as well as fact so this really depends on what was initially predicted and how much the releases differ. At 10:00am the final big release of the day for this currency...