Market Update
- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- July 18, 2023
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Cable might drop through 1.3000 if UK June CPI comes in softer than the 8.2% YY consensus forecast on Wednesday or ascend beyond 1.3150 if it is higher than expected for a fifth consecutive month. A cooler than forecast UK CPI print would reduce the probability of a second consecutive 50 basis point rate rise […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- July 17, 2023
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The British Pound will on Wednesday encounter another key economic release in the form of CPI inflation for June which will determine whether the Bank of England will deliver a second consecutive 50 basis point interest rate increase in August. The Pound has rallied through 2023 as UK inflation has proven more resilient than expected […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, Fed, GBP, Inflation, Rate Hikes, Sterling, UK, Uncategorised
- July 13, 2023
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The pound rose for the sixth session running to a new 15-month high after data showed the British economy shrank by less than expected in May. Figures showed the economy contracted 0.1% in May, after growth of 0.2% the previous month. Economists expected a contraction of 0.3%. The UK — as well as most of […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling
- July 4, 2023
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Sterling steadied as traders wait for service sector data due on Wednesday and ponder whether any positive impact from expected higher interest rates on the British currency has run its course. Amid fears that more expected rate hikes by the Bank of England (BoE) could slow the British economy further, traders are awaiting PMI service […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- June 23, 2023
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With Bank of England raising rates yesterday by 50 basis points, we saw flash movements on the market first by a spike against both the USD and EUR. It later settled in and around the area where rates were held before its meeting. Normally a rate hike is good for its currency, so how come […]
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- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, election, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Retail Sales, Sterling, UK, Uncategorised
- June 21, 2023
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UK Core Inflation figures were forecasted to remain unchanged at 6.8% but came out 0.3% higher. MoM inflation also released 0.3% higher to previous levels. Despite inflation consecutively falling over the last quarter from 10.4% in February, 10.1% in March, 8.7% in April (lowest since March 2022), this is the second month in a […]
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- Posted by currencies in Bank of England, Budget, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- June 8, 2023
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The US Dollar has remained near it’s recent two-month high with next week’s Federal Reserve interest rate decision looming. The Central Bank is widely expected to pause its year-long interest rate hiking cycle, but expectations are increasing on the possibility that this pause will be temporary, with a potential rate hike in July still on […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- May 30, 2023
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The last week was pretty volatile for markets- with traders now pricing in more BoE hikes this year (Expected to reach 5.5%) following inflation data showing no sign of cooling yet. Naturally, this helped push the GBPEUR rate higher into the 1.15 area- but unfortunately, this did not reflect in GBPUSD prices, much due to […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- May 18, 2023
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The US Dollar has strengthened further overnight after a continued standoff in negotiations surrounding the debt ceiling in The States. The current debt limit is $31.4 Trillion and concerns have been raised that a recession could be looming large in The US if no agreement can be reached. There is of course some hope that […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- May 17, 2023
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The pound slipped against a strengthening dollar on Wednesday and maintained its losses after Bank of England Governor Andrew Bailey reiterated, he expected price pressures to ease, as soon as April. Speaking at the British Chambers of Commerce Global Annual Conference, Bailey said that if price pressures were to be more persistent, further tightening of […]
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