Retail Sales Miss Expectations


Retail Sales Miss Expectations

UK retail sales recorded their biggest quarterly fall in a year during the three months to March. We expected as much as the weather played a big part, keeping consumers at home. Retail sales volumes in March were 1.2 percent lower than the month before. For the first quarter, sales volumes dropped by 0.5 percent […]

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Sterling hits a 9 month high

Sterling has continued to gain against the euro, however, this could be affected next week when we have the UK wage data and employment figures released. We believe that wage growth including bonuses may slow slightly whereas the unemployment is expected to be up – both could have a negative impact on the pound. On […]

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Market Update – Dollar Struggles

Bank of England credit conditions survey may receive some attention today. Markets will be looking for signs of an impact from last November’s interest rate hike on the demand for or availability of credit. Tonight, BoE Governor Carney is talking in Canada, but unlikely we will get anything new regarding monetary policy from this. In […]

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UK Construction lower than expected

Sterling was on track for its fourth consecutive day of gains against the dollar on Wednesday as traders paused ahead of a survey of Britain’s construction sector. However, the construction data came in worse than expected at 47.0 compared to an expected 51. The pound did not lose ground on the back of this result […]

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Sterling recovers from recent losses

Yesterday the most volatile currency in the market was the pound, with GBPUSD dropping sharply before recovering, perhaps on the back of news that the UK will offer a resolution soon on the Irish border issue sooner rather than later. The euro consolidated gains on Wednesday after hitting a six-week high in the previous session […]

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Euro gains as dollar weakens

The euro rose to a new five-week high this morning, mainly due to dollar weakness prompting investors to put their money into the Eurozone. Global markets were shaken this month after U.S. President Donald Trump moved to impose tariffs on Chinese goods and Beijing threatened similar measures. Comments from Jens Weidmann, Germany’s likely candidate to […]

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UK wage data beats expectations

  • Posted by currencies in Uncategorised
  • March 21, 2018
  • No Comments

The pound rose this morning after the latest UK jobs report showed that wage growth picked up, fuelling expectations for a rate hike by the Bank of England, possibly as soon as May. The Office for National Statistics reported that average earnings, including bonuses, rose by 2.8% from 2.6% a month earlier. Excluding bonuses, average […]

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Pound gains across the board

Sterling was flat in a big week for the British currency with employment and inflation data due, followed by a crucial summit between European and British officials to secure a Brexit transition arrangement. The Pound to Euro exchange rate has gained today, in the aftermath of the Italian general election that resulted in a hung […]

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Pound continues gains

The pound is poised for its biggest weekly rise in a month against the dollar as investors became cautiously optimistic that Britain would strike a deal at a summit next week over a transition period for its EU exit. While sticking points remain such as a deadlock over the Irish border issue and recent headlines […]

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No Deal

Sterling weakened against the Dollar yesterday on worries that Britain might not manage to clinch a transition deal with the European Union at a summit later this month. Even against a euro shaken by the cautious tone of the European Central Bank’s chief at a press conference after a policy meeting. ECB President Mario Draghi’s […]

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