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UK Construction figures better than expected

Sterling and Britain’s blue chip stock index rose to a day’s high this morning after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 49.2 from 45.9 in July, still […]

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UK PMI Manufacturing boosts the pound!

  • Posted by Shyam Gokani in Uncategorised
  • September 1, 2016
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The Markit/CIPS Purchasing Managers’ Index (PMI) – a closely watched gauge of factory activity – jumped to a 10-month high of 53.3 in August after tumbling to a three-year low in July after the referendum, which was revised down to 48.3 from 48.2. The five-point monthly surge was the joint-largest in the manufacturing survey’s near […]

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UK consumer confidence on the up

  • Posted by Shyam Gokani in Uncategorised
  • August 31, 2016
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Sterling rose this morning, boosted by improved consumer confidence and rising British house prices in August, adding to growing signs that the economy was holding up well despite a shock vote to leave the European Union in June. Market research firm GfK said its gauge of consumer confidence rose to -7 in August from -12 […]

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Sterling slips against Dollar

Sterling slipped back towards $1.30 on Tuesday on divergent expectations for monetary policy, with investors increasingly betting U.S. interest rates could rise by year-end while British rates may be cut again. With London markets closed on Monday for a national holiday, Tuesday marked the first full day of trading there since U.S. Federal Reserve Chair […]

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UK GDP in line with forecasts

  • Posted by Shyam Gokani in Uncategorised
  • August 26, 2016
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Sterling hovered near a three-week high against the dollar on Friday, supported by solid growth and business investment data that helped offset worries over the impact of Britain’s shock vote to leave the European Union. The pound was on track for its best weekly performance in six weeks against the single currency, having hit a […]

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Sterling nears 3 week high

Sterling traded close to a three-week high against the dollar today and was on track for its best week in six, with worries over the economic impact of Britain’s vote to leave the European Union easing a little after recent better-than-expected data. The pound was also on track for its best week in six weeks […]

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Sterling continues to gain due to positive data

  • Posted by Shyam Gokani in Uncategorised
  • August 24, 2016
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Sterling climbed against the euro and held just below $1.32 this morning, with speculators trimming bets against the currency after recent data indicated that the economy was holding up surprisingly well after the Brexit vote. Short positions on sterling had reached a record high of 94,238 contracts in the week to Aug. 16 and traders […]

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Sterling gains again this morning

  • Posted by Shyam Gokani in Uncategorised
  • August 23, 2016
  • No Comments

Sterling hit a three-week high against the dollar this morning, rising above $1.32 as speculators cut bets against it after data suggested Britain’s economy was holding up surprisingly well in the aftermath of the Brexit vote. Data released by the Commodity Futures Trading Commission on Friday showed positioning is stretched, with sterling net short positions […]

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Sterling up this morning

Sterling inched up on today after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain’s economy was faring better than expected following its vote to leave the European Union. The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding […]

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Sterling hits further lows

Sterling hovered near a one-month low this morning on expectations that poor economic data will lead the Bank of England to ease monetary policy again in the coming months to cushion the economy from a sharp downturn. A tick up in U.S. Treasury yields and more signs of weakness in Britain’s housing market had pushed […]

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