Poor UK PMI data release this morning
- Posted by Shyam Gokani in Uncategorised
- July 22, 2016
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Sterling dived and gilts rose this morning after surveys showed business activity shrinking at a fast pace after the shock Brexit vote last month, bolstering expectations the Bank of England will have to do more next month to stimulate growth. The PMI survey of services sector purchasing managers fell to 47.4 in July from 52.3 […]
READ MOREPoor UK Retail Sales hits Sterling this morning
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- July 21, 2016
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British retail sales suffered their sharpest monthly fall in six months in June, with officials citing poor weather hurting clothing sales rather than any impact from the vote to leave the European Union. Retailers had not reported any anecdotal evidence of the unexpected result of the June 23 referendum affecting sales during the five-week period […]
READ MOREStrong UK wage & Unemployment data this morning
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Referendum, Retail Sales, Sterling, UK
- July 20, 2016
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According to the latest release from the Office for National Statistics, the UK jobless rate improved from 5.0% to 4.9%, while the jobless claims change ticked lower from 12,200 to 400. In addition, average weekly earnings excluding bonuses decelerated slightly to 2.2% from the 2.3% booked previously, while the gauge including bonuses jumped to 2.3% […]
READ MOREInflation rises in the UK
- Posted by Shyam Gokani in Uncategorised
- July 19, 2016
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The pound erased yesterday’s rally and was fading back below the $1.32 level, with traders focusing on today’s economic releases. As traders took profits from Monday’s upswing, the pair declined and sterling was trading 0.3% weaker against the greenback, seen around $1.3210, retreating somewhat form the daily lows of $1.3175 seen earlier during the session. […]
READ MORESterling stays firm
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- July 18, 2016
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Sterling rose on Monday, boosted by expectations of inflows from an acquisition deal after Japan’s Softbank agreed to buy chip designer ARM in a 24.3-billion-pound deal which should help plug Britain’s yawning current account gap. The pound extended gains after Bank of England policymaker Martin Weale said he was unsure if he would back an […]
READ MORESterling’s biggest week since 2009
- Posted by Shyam Gokani in Uncategorised
- July 15, 2016
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Expectations of a period of relative domestic political and economic calm kept sterling on course for its best week since 2009 today, although broader risks from last month’s Brexit vote prevented a break past two-week highs above $1.34. Many analysts have recommended selling any rallies in the pound in anticipation of cuts in Bank of […]
READ MOREBank of England announcement at 12pm
- Posted by Shyam Gokani in Uncategorised
- July 14, 2016
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Sterling strengthened amid a more upbeat mood across global markets today, as investors focused on a Bank of England policy meeting that looks set to yield the first cut in British interest rates in seven years. Governor Mark Carney clearly flagged two weeks ago that stimulus was on its way, signalling the economy was in […]
READ MORESterling on the up – for now!
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- July 13, 2016
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Sterling was firmer this morning, trading near a two-week high against the euro as Theresa May was set to take over as Britain’s prime minister, easing some of the political uncertainty that has dogged the currency in the past few weeks. Traders will keep an eye on who will be appointed as finance minister with […]
READ MORESterling steadies after May appointment
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- July 12, 2016
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Sterling rose along with UK government bond yields today as the early appointing of interior affairs minister Theresa May as prime minister fed into a generally improved global mood among financial investors. The 1.2 percent rise in the pound against the dollar put it on track for its biggest daily rise since Britain’s vote to […]
READ MORESterling falls further
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, Sterling, UK
- July 11, 2016
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Sterling fell this morning, edging back towards last week’s 31-year low against the dollar on expectations that the Bank of England will ease monetary policy in response to Britain’s shock vote to leave the European Union. The BoE, which meets on Thursday, expects the economy to suffer a material slowdown because of the uncertainty caused […]
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