United States Dollar: After a bit of a blip post FOMC statement the USD has strengthened again. There wasn’t much by way of any supporting U.S. economic data yesterday. In fact, Chicago PMI printed weaker than forecasts but despite this GBP/U…Read more
The first glimpse of the upcoming data in the UK during the third quarter has disappointed markets after GfK consumer confidence dropped for the first time in six months for July. Nationwide housing data also surprised investors on the downside, leading the Pound to trade under pressure against the majors. Today’s encouraging German unemployment and retail sales data has not helped Sterling-Euro pair. Markets will look forward to today’s Euro zone inflation reading to see if it brings some respite for Sterling investors.
Across the Atlantic, the Fed failed to offer a timeline for rate hikes but its view that the contraction in the first quarter was temporary seems to be correct, as yesterday’s second quarter GDP numbers showed a significant rebound.
United States Dollar: It was a risk off morning yesterday. The dollar strengthened and GBP/USD meandered lower as investors keenly awaited a plethora of data and market moving events from the States. US ADP Non-Farm Employment Change was first up a…Read more
Most of the economic reports in the US are suggesting a rebound in economic growth during the second quarter after an unusually weak first quarter. While most of the sectors have performed well, the recovery in the domestic housing market has been tepid. Against this backdrop, the US Fed is most likely to retain its current assessment and guidance in the FOMC meeting later today.
The GfK consumer confidence data in the UK scheduled overnight is expected to show an improvement, thereby adding to signs that the domestic economy continues to recover at steady pace. In the Euro zone, investors will keep a close watch on today’s German inflation numbers, especially considering the persistent deflation threat in the region.
United States Dollar: The pound fell on Tuesday after UK consumer credit data printed weaker than expected. Mortgage approvals, released at the same time, were a little better than expected, but the news was shrugged off as investors sold GBP vs. bo…Read more
In sync with last week’s BBA mortgage approvals data, today’s official numbers have revealed a more than expected rise in the demand for new loans for June. Meanwhile, the BoE Deputy Governor, Ben Broadbent, indicated that the strengthening global economy will boost domestic economic recovery. Against this backdrop, a slew of economic releases in the US and Europe due later this week will keep investors interested.
Across the Atlantic, today’s S&P/Case-Shiller home prices report will be keenly watched as a revival in the housing sector seems to be disappointing, further evidenced by yesterday’s dismal pending home sales data. Meanwhile, tensions in Eastern Europe are set to rise, especially after the EU and the US agreed to impose tougher economic sanctions against Russia.
United States Dollar: It was another slow start to the week this week. GBP/USD started the day at 1.6980 and popped to a high of 1.6999 as the dollar softened throughout the day. The weak set of U.S. pending home sales data weighed on the dollar, w…Read more
The encouraging second quarter GDP figures from the UK released last week further highlights the marked all-round progress made by the economy. However, the Pound failed to register gains against its peers after the GDP numbers, as uncertainty over Britain’s monetary policy still looms. This week’s consumer confidence and manufacturing PMI numbers are likely prove vital in ascertaining whether the Pound can sustain above the 1.70 mark against the US Dollar in the near term.
Across the Atlantic, non-farm payrolls and GDP numbers remain the highlight for the weekly trading session. In the Euro zone, investors will evaluate the impact of last month’s policy measures on the inflation readings scheduled from most of the European economies later this week.
United States Dollar: GBP/USD has consolidated under the 1.70 level since Friday. The pound got a slight boost on the day after UK GDP data printed in line with market expectations. Although it didn’t come as a surprise it confirms that the U…Read more
United States Dollar: The pound fell again on Thursday after UK retail sales printed weaker than expectations, rising by only 0.1% in June from May vs. 0.2% exp. With the less than hawkish MPC minutes still fresh in investors’ minds, GBP/USD w…Read more