UK Pay Growth Slows


UK Pay Growth Slows

British workers’ pay growth has slowed to its weakest in six months despite record employment, challenging the Bank of England as it considers whether to raise interest rates next month for only the second time since the financial crisis. Average weekly earnings rose by 2.5 percent on the year in the three months to May, […]

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70% chance of UK rate hike in August

In the UK, all eyes will be on Bank of England Governor Mark Carney’s speech at 11:00 am in Newcastle. Following the recent run of upbeat UK economic data releases and BoE chief economist Andy Haldane’s surprise shift last month to support an immediate hike in interest rates, market expectations for an August rate hike […]

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UK Data Continues To Be Positive

The pound edged up this morning ahead of a survey on Britain’s dominant services sector which traders said could lift the currency after decent numbers from the manufacturing and construction sectors earlier this week. The Services Purchasing Managers’ Index was forecast to come in at 54 for June, in line with the previous month. The […]

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UK GDP Revised Up

As we head into day 2 of the EU summit a review of Brexit negotiations is expected to take place amid limited progress on the Irish border issue in recent months. The UK’s proposed solutions – a ‘customs partnership’ which involves collecting tariffs on behalf of the EU or ‘max fac’ which uses technology instead […]

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Carney speaking this morning – Financial Stability

The pound fell versus the dollar and Euro over the last 24 hours after an incoming Bank of England policymaker expressed caution over Britain’s readiness for higher interest rates and uncertainty over the impact of Brexit on the economy. Sterling fell as much as half a percent as economics professor John Haskel, whose views are […]

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Sterling continues to fall this morning

The GBP/USD is trapped near recent lows close to 1.3150 ahead of today, with little impactful news on released today and continued Brexit confusion taking the wind out of buyers’ sails. There is no key or impactful events on the economic calendar, and the only event for the GBP side is the low-impact CBI Industrial […]

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Sterling hits a 5 day high

Sterling rose to a five-day high after British retail sales jumped for the second month in a row in May and far outstripped expectations. Sterling is likely to gain this year and by the time Britain leaves the European Union next March will have recouped a chunk of its losses since the June 2016 decision […]

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UK Retail Sales jump in May

Sterling rose a quarter of a percent this morning before any data, cementing some modest gains notched up this week. British retail sales jumped for the second month in a row in May, far outstripping expectations as a royal wedding and warm weather helped shoppers put a winter slump further behind them, data showed this […]

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UK wage growth slows

British workers’ wages grew more slowly in the three months to April, according to official data published this morning which could further dampen expectations that the Bank of England will raise interest rates as soon as August. Total earnings, including bonuses, rose by an annual 2.5 percent, down from growth of 2.6 percent in the […]

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UK data disappoints across the board

British factory output unexpectedly dropped in April at the fastest pace since 2012, due to weaker demand at home and abroad, raising concern that the economy’s weakness in early 2018 is persisting. The official data published today also showed the biggest trade deficit for goods since September 2016 after big falls in exports of aircraft, […]

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