GBP AUD Lower Despite Confidence at Pandemic Lows

GBP AUD Inches Higher Despite Growth Downgrade

The GBP AUD exchange rate was higher by 0.10% on Wednesday despite a downgrade of the UK economy by the OECD. The OECD also cut growth for the global economy and that is weighing on the Aussie dollar. The larger than expected RBA interest rate hike is also set to hurt Aussie consumers further. The GBP to AUD rate was trading at the 1.7425 level but the rebound has been weak. British economic growth downgraded by the OECD The British economy will grow by less than expected...
GBP EUR Higher After French Economy Shrinks

GBP EUR Higher After French Economy Shrinks

The GBP EUR exchange rate was 0.10% higher on Tuesday as Europe faced a slew of economic data that had mixed results. A shrinking French economy also saw an uptick in inflation, but the German unemployment picture improved to help the euro. The GBP to EUR was trading near the 1.1750 level and trying to regain strength. French economy contracts in first quarter, German employment weaker France's economy slowed over the first quarter due to the impact of soaring inflation, increasing the risk for President Emmanuel Macron...
GBP EUR Higher with ECB Plan for July Rate Hike

GBP EUR Starts the Week with German IFO Data

The GBP EUR exchange rate opens the week with German IFO business sentiment data. The index is expected to dip to 91.4 after last month’s 91.8 reading, but a gloomy update would not be a surprise. Meanwhile, the UK Chancellor has said that the government cannot stop inflation, but the Bank of England disagrees. The GBP to EUR opened the week around 1.1830 after holding lower-level support. Bank of England economist sees more rate hikes ahead The Treasury must take responsibility to fight soaring inflation and the...
GBP EUR Exchange Rate: The Week Ahead June 26th 

GBP EUR Exchange Rate: Weekly Review May 7th

The GBP EUR exchange rate was smashed lower on Thursday as traders reacted to the latest Bank of England (BoE) interest rate hike. A move to 1% interest rates was met with six voting members who wanted 1.25%. The BoE also had dire forecasts for growth and energy bills with households set to feel the squeeze once more. The GBP v EUR crashed through the previous 1.1800 support level and may head lower in the weeks ahead. Bank of England shocks markets with recession warnings The Bank...
GBP AUD Lower Despite Confidence at Pandemic Lows

GBP AUD Awaits RBA Meeting Minutes  

The GBP AUD exchange rate was trading higher on Monday as the pair awaits the latest Reserve Bank meeting minutes. With traders now pricing in a June rate hike, after the Federal Election, the latest policy comments may not offer much change. Tuesday brings the Westpac leading index for Australia in a light week for UK data. The GBP to AUD is trading at 1.7660 as the week’s trading begins. Joyce calls for more coal mines in Australia for healthcare Deputy Prime Minister Barnaby Joyce said it...
GBP EUR Higher After French Economy Shrinks

GBP EUR Pauses for Events After Recent Rally

The Pound to Euro exchange rate was -0.04% lower on Monday as the pair takes a breather from the recent strong rally. Only a Spanish trade balance figure was released on Monday, which came in lower than expected. The market may wait for Wednesday’s French Presidential debate, which is followed by European inflation data. The GBP to EUR was trading at 1.2065 ahead of those events. Senior Tory talks of ‘war cabinet’ if Boris is ousted as PM A senior Tory has said that a “war cabinet”...
GBP EUR Flat Despite Government Debt Pressure

GBP EUR Slips from 1.2000

The Pound to Euro exchange rate was -0.21% lower on Thursday after the European Central Bank minutes confirmed a bullish stance on interest rates. Analysts are looking to next week’s ECB policy meeting but are expecting an end to stimulus purchases in Q3, before any rate hike comes. European retail sales jumped but were driven by fuel increases. The GBP to EUR was trading at 1.1955 after seeing resistance again at the key 1.2000 level. ECB minutes confirm a hawkish stance on interest rates The European Central...
GBP USD Exchange Rate: The Month Ahead September 

GBP USD Shackled by Fed Hawkishness

The Pound to Dollar rate struggled to make headway on Thursday having bounced off a three-week low the previous day. Addressing UK monetary policy, Bank of England (BoE) Chief Economist Huw Pill said on Thursday that quantitative easing may be the wrong tool to tackle market dysfunction amid red-hot inflation. Pill does not think the BoE will want to repeat the massive additional bond purchases announced at the start of the pandemic, which was partially made to calm bond market turmoil. Pill said: "Maybe we were just...
GBP AUD Dips Again Ahead of BoE Rate Decision

GBP AUD Recovers to 1.7500

The Pound to Australian Dollar exchange rate was 0.40% higher on Thursday as sterling tries to hold that key level which was reached in January of 2021. The Australian dollar suffered from a lower-than-expected trade balance. Business groups in the UK have called for an energy price cap to protect investment in the country. The GBP to AUD was trading at 1.7460 after seeing new yearly lows on the week. Australian trade balance suffers with geopolitical scene The Australian trade balance came in much lower than expected...
GBP EUR Higher After French Economy Shrinks

GBP EUR Hits New Highs with Safe Haven Flows

The GBP EUR exchange rate spiked to new yearly highs on Monday as investors grow fearful over European markets. Europe’s dependence on Russian gas is a key issue and commodity prices also spiked again with gold at $2,000 and Brent crude oil surging above $135 per barrel. The GBP to EUR has pulled back to trade below the 1.2100 level. Europe ignores Ukrainian appeal to cut off energy reliance Europe ignored pleas from Ukrainian president Zelensky to boycott Russian gas and oil as the most effective means...