Market Update
- Posted by currencies in Bank of England, Currency, Dollar, Economy, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- December 13, 2023
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In a surprising turn of events, the UK economy shrank by 0.3% in October, causing the value of the British pound to decrease. Economists had predicted a steady or slight growth of 0.1% for the month. This decline in the economy reflects the growing pressures on households and businesses because of the rising cost of […]
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Market Update
- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- December 5, 2023
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Sterling hovered around its highest levels in almost three months against the euro today, as markets raised their bets on rate cuts by the European Central Bank, which widened their divergence with the Bank of England. Higher interest rates attract investors’ demand and boost the value of a currency. Money markets fully price in more […]
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Market Update
- Posted by currencies in Bank of England, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Rate Hikes, Sterling, UK, Uncategorised
- November 27, 2023
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Last week’s data releases provided strength for the Pound after a pretty downbeat month or so on the market- showing that UK PMI numbers were back over the 50 area, which means that the UK economy is no longer contracting- we may not see massive growth over the next year, however, a stagnating economy is […]
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Market Update
- Posted by currencies in Bank of England, UK, Uncategorised
- November 20, 2023
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Last week was generally pretty supportive for Sterling exchange rates from a data perspective- however on Friday this all changed very quickly as retail sales numbers came out as low as they were last in the pandemic. These spending numbers have pretty much confirmed that the BoE are finished with their hiking cycle, as clearly […]
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Market Update
- Posted by currencies in Bank of England, Currency, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- November 16, 2023
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Yesterday morning saw UK Inflation drop comfortably below 5% for the first time in 2 years. The lower energy price cap imposed on households at the start of October was a main contributor towards this figure. Food Bill prices also eased last month, dropping to their lowest levels since June last year at 10.1%. Focus […]
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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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Market Update
- 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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Market Update
- 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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Market Update
- 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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Market Update
- 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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