Market Update


Market Update

Upcoming jobs data out of the United Kingdom could spark a reversal in GBP/USD rates, should the unemployment rate in June exceed the consensus forecast 4.2%. This economic data may hold substantially more weight than usual when considering the ongoing tapering and ultimate cessation of the British government’s £33.8 billion furlough scheme in October. Given […]

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Market Update

Sterling rose against a weaker euro but fell versus the dollar after the $1.30 level reached late in the previous session did not hold, with Brexit and the economic fallout from coronavirus weighing on the currency. Global market sentiment was boosted after the head of the U.S. Federal Reserve, Jerome Powell, said the bank would […]

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Market Update

Britain’s economy stumbled out of its coronavirus-induced slump in May, casting doubt on the chances of a rapid rebound and suggesting more government help to kickstart recovery may be on its way. Gross domestic product rose 1.8% after lockdown restrictions were eased slightly, the Office for National Statistics said – a smaller rebound than any […]

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Market Update

Sterling dipped against the dollar and euro as some investors braced for a larger-than-expected increase in the Bank of England’s quantitative easing programme to combat the economic fallout of the COVID-19 pandemic. The BoE, which meets later today, is expected to build up its war-chest for fighting the crisis by announcing an increase of at […]

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Market Update

The dollar fell against most currencies amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day. The main focus is a Fed policy meeting later on. While no major changes are expected, recent rises in yields have pushed up […]

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Market Update

Sterling set to lose recent gains against the dollar and weaken further if Britain does not ask for an extension to its Brexit transition period by a June 30 deadline to allow more time for talks on a trade deal with the EU. Talks between the two sides, aimed at setting out a new future […]

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Market Update

The pound rose against overnight and continued to gain in early London trading, after Prime Minister Boris Johnson set out plans to reopen thousands of high street shops, department stores and shopping centres next month. Johnson said at a news conference on Monday that outdoor markets and car showrooms could reopen from June 1 and […]

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Market Update

Sterling edged lower against both the U.S. dollar and the euro as fresh data showed retail sales fell by a record 18% as the coronavirus crisis hammered the economy and while U.S.- China tensions boosted demand for the dollar. British retail sales fell by the most on record in April due to the lockdown. In […]

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Market Update

Britain’s inflation rate sank in April to its lowest since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing retailers cut prices, while power tariffs also slid. The consumer price index dropped to an annual rate of 0.8% in April from 1.5% in March, official data showed on Wednesday, broadly in […]

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Market Update

The pound rose against both the dollar and the euro overnight before steadying, recovering somewhat from seven-week lows but not fully participating in a market-wide relief rally from improving risk appetite. Positive signs from a coronavirus antibody trial saw safe-haven currencies, such as the dollar, fall as markets rallied. However, downside risks continue to weigh […]

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