UK Retail Sales boost pound
- Posted by Shyam Gokani in Uncategorised
- September 15, 2016
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Sterling rose briefly on Thursday after data showed British retail sales fell at a much slower pace than expected in August, although expectations that the Bank of England is likely to look through the data and keep policy accommodative checked gains. Retail sales volumes edged down 0.2 percent on the month in August after jumping […]
READ MORESterling boosted by UK Jobs Data
- Posted by Shyam Gokani in Uncategorised
- September 14, 2016
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Sterling rose this morning, boosted by data that showed resilience in Britain’s labour market to fallout from June’s Brexit vote. The jobless rate in the three months to July was 4.9 percent, unchanged from the three months to June while the number of people in work rose by 174,000, the Office for National Statistics said. […]
READ MOREUK 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 […]
READ MOREUK 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 […]
READ MOREUK 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 […]
READ MORESterling 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 […]
READ MORESterling gains again this morning
- Posted by Shyam Gokani in Uncategorised
- August 23, 2016
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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 […]
READ MORESterling back up over 1.30 against the Dollar
- Posted by Shyam Gokani in Uncategorised
- August 10, 2016
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Sterling back above $1.30 this morning, a day after hitting a one-month low, as a broadly weaker greenback offset worries about falling gilt yields and a shortfall in the Bank of England’s first round of new purchases of government debt. After a week in which sterling has suffered from the BoE’s aggressive moves to ease […]
READ MORESterling drops due to rate cut and QE Programme
- Posted by Shyam Gokani in Uncategorised
- August 5, 2016
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Sterling steadied this morning, recovering just over 0.2 percent against both the dollar and euro after the Bank of England drove its biggest daily losses in a month with a package of new stimulus for Britain’s slowing economy. The Bank’s cuts in its growth forecasts for next year and its hints of more easing to […]
READ MOREWeak PMI data in the UK today
- Posted by Shyam Gokani in Uncategorised
- August 3, 2016
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Sterling retreated from a three-week high against the dollar today ahead of the third and most important of a batch of purchasing manager surveys that offer the best clues so far of the blow to the economy from June’s Brexit vote. GBP Markit/CIPS UK Services PMI 47.4 47.4 47.4 GBP Markit/CIPS UK Composite PMI 47.5 […]
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