Market Update
- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- November 14, 2023
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British data earlier in the day showed UK workers’ wages grew slightly less quickly in the three months to September but remained close to their record pace. The figures will likely do little to ease the Bank of England’s concerns about inflationary pressures and did nothing to change market-based forecasts for a UK rate cut […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, GBP, Rate Cuts, Sterling, UK, Uncategorised
- November 9, 2023
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The pound edged up against the euro after Bank of England (BoE) policymakers, including Chief Economist Huw Pill, reiterated policy will need to remain restrictive for some time. Earlier this week, Pill had said market pricing pointing towards a first interest rate cut in August 2024 “doesn’t seem totally unreasonable”. However, BoE Governor Andrew Bailey […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- November 8, 2023
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The pound weakened against the dollar and euro today, as markets continued to digest remarks from the Bank of England’s chief economist that interest rate cuts could come around the middle of 2024. Part of those moves versus the dollar come as the greenback bounced back after recent losses, but sterling was also a touch […]
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- Posted by currencies in Bank of England, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, UK, Uncategorised
- November 6, 2023
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After an important week of data and Central Bank decisions- Sterling exchange rates have managed to stabilise higher than where they started last week, both up around 1% respectively. The main reason for this was the Bank of England meeting where Governor Bailey stated that interest rates are not going to be cut just yet […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- November 2, 2023
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The Federal Reserve opted to keep Interest Rates at current levels last night, which is a 22-year high as expected. The Central Bank’s Chair Jerome Powell struck a less hawkish tone than the markets were expecting but did leave the door open for one more possible hike. Keeping rates higher for longer seems to be […]
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- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- October 30, 2023
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The Pound has struggled to maintain any form of strength against the Euro and Dollar over the last month, with GBPEUR currently trading at 1.1450 and GBPUSD trading at 1.2130. After a dovish ECB meeting last week we saw the Euro weaken across the board, with recession expected for the Eurozone over the next few […]
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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
- October 27, 2023
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No surprises yesterday when ECB (European Central Bank) decided to hold rates at 4.5%. President Christine Lagarde mentioned that there could be further actions in the future but that current market situation did not require monetary actions. In September we saw inflation levels drop drastically for a number of European nations. Market speculations is now […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- October 26, 2023
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Australia’s inflation yesterday has shown signs of a continued struggle to drop quick enough, with inflation mainly boosted by higher petrol prices, adding further fuel to the Interest Rate question for The Reserve Bank of Australia. So far, The RBA have left their rates unchanged at 4.1% for the past four months, but prior to […]
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- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- October 5, 2023
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Sterling rebounded yesterday to give the currency some much needed relief after continued pressure against both EUR & USD most notably over the past 8 weeks. Septembers PMI Survey for the economy came out considerably higher than first estimates suggested, touching 48.5 against forecasts of 46.8. The underwhelming first estimates was one of the reasons […]
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- Posted by currencies in Bank of England, Budget, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- October 2, 2023
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The month ended with GBPEUR at 1.1530 and GBPUSD at 1.22- over all the month of September was not very supportive for the Sterling and we saw a lot of weakness to end the quarter- although we have also seen a weaker Euro alongside a weaker Pound, it seems traders have found more value shorting […]
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