Sterling continues to be volatile ahead of Thursday


Sterling continues to be volatile ahead of Thursday

GBP dropped off today as many investors have continued to off-load the pound ahead of the Bank of England meeting this Thursday when the central bank is expected to keep interest rates on hold, and as worries about Brexit negotiations resurface. Tensions within Britain’s governing Conservative party over how to agree terms of exit from […]

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Sterling continues poor run

Market probability of a rate hike from the Bank of England next week has dropped to less than a tenth from more than 90 percent a month ago. Weak survey data from Britain’s services sector for April rounded off a disappointing streak of economic figures starting with last week’s shock first quarter GDP data and […]

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UK Services Data Disappoints

Sterling gained slightly yesterday after positive manufacturing data however the negative numbers continued this morning after a major survey showed Britain’s services sector struggled to recover in April from a sharp slowdown in March, further squeezing expectations of an interest rate hike next week. The IHS Markit/CIPS services purchasing managers’ index rose to 52.8 in […]

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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 – manufacturing better than expectations

Sterling steadied this morning against the dollar after falling this week over worries Britain will not secure a Brexit transition deal, while traders waited for UK manufacturing data. Manufacturing came in higher than expectations of 55.0%. The data showed Manufacturing was up to 55.2% Also, this morning we had the UK Mortgage approvals data which […]

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Dollar Volatility Continues

The dollar came under renewed selling pressure this morning, sliding lower against a basket of major currencies ahead of the Federal Reserve’s policy decision. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.24%. The dollar has come under pressure as it has lost its relative […]

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Sterling slips off this morning

The British Pound became one of the worst performing majors this morning in the early trading session as more sour news related to the UK crossed the wires. Earlier on Wednesday, the IMF downgraded its prediction for economic growth in this country to 1.6% this year from 1.7%. GfK consumer confidence clocked in at -13 […]

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British businesses reported a pickup in growth

British businesses reported a pickup in growth in the three months to December, but they expect a slowdown in early 2018 as high inflation takes its toll on households, the Confederation of British Industry said this morning. British inflation hit its highest level in nearly six years in November when it rose to 3.1 percent, […]

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UK Wage growth slightly better

Pay growth for British workers quickened slightly in the three months to October but there was another drop in employment, official figures showed, suggesting employers are turning more cautious as Brexit nears. Britain’s economy slowed sharply this year as the 2016 Brexit vote weighed on households and companies, but job creation has largely remained strong […]

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UK Inflation hits a 6 year high!

This week will be all about the central banks. Three major institutions will have their interest rate decisions: FED, ECB, and BoE. From that three, only in the US, we should see some changes. However, the BoE will be under pressure to raise rates again early next year as this morning’s data shows UK inflation […]

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