United States Dollar: Cable begins the week lower after the highs seen at the end of last week. GBP/USD 1.4407 seen at around 6:30am on Friday morning gradually fell during the working day, finally reaching a low of 1.4170 as end of month flows domin…Read more
The economic calendar in the US and Euro zone stands busy with a slew of major economic releases today. In the Euro region, German retail sales unexpectedly declined in December, adding to worries that the Euro zone’s economic recovery is failing…Read more
United States Dollar: GBP/USD opens notable higher today following the worst monthly decline in US durable goods orders since Sept 2014. In early trading cable carved out some small gains, rising from an open of 1.4235 to 1.4280, as markets digested…Read more
Preliminary GDP data for the October – December period released just now has indicated that the UK economy modestly grew from the third quarter, while growth eased to 1.9% from a year ago. The latest fourth quarter growth estimates suggest that t…Read more
United States Dollar: GBP/USD opens lower today as risk off trading continues to dominate cables movements. Opening the day at 1.4325, the pair quickly gapped below 1.43 following the British Bankers Association Mortgage Approvals posting below expe…Read more
The main focus today will be on the outcome of the two-day US Federal Reserve (Fed) policy meeting and the publication of the FOMC statement later in the day. Although the Fed are unlikely to take any monetary policy action, markets will closely monitor the tone of the rate statement for signs of weakness within the US economy, given the recent turmoil witnessed across the world. On the economic data front, a report on purchases of newly built homes is due in the US later today.
In the UK, mortgage applications fell to a 7-month low in December, according to the British Bankers Association’s most recent survey released just now. Earlier today, mortgage lender Nationwide reported that UK home prices rose at a slower than expected pace in January. In Europe, GfK survey results showed that German consumer confidence is set to remain steady in February.
United States Dollar: GBP/USD rebounded strongly through Tuesdays trading as a recovery in risk appetite helped the pound gain nearly 1.75 cents to hit an intraday high of 1.4366. Sterling has suffered throughout January as expectations of an intere…Read more
In the absence of significant macro updates in the UK today, market focus will likely be on the testimony about the nation’s financial sector to be given by the Bank of England (BoE) Governor, Mark Carney, scheduled in a short while. Given the very dovish speech delivered by the BoE Chief last week, it is unlikely that he will offer any fresh hints to investors who are looking forward to a rate lift-off.
The US Federal Reserve (Fed) will also begin its two-day monetary policy meeting today after the previous month’s long anticipated rate increase. On the macro front, US house prices, CB consumer confidence and preliminary services sector activity data will be released today which will provide new insights regarding the likely impact of recent turmoil in the global economy on activity in the first quarter of 2016.
United States Dollar: Cable traded a fairly tight half cent range yesterday as traders await the Federal Reserve’s upcoming policy meeting on Wednesday evening. Starting the day at 1.4270, GBP/USD fell to 1.4225 through the morning before reco…Read more
In a slow start to the new week, key economic data for the day was from Europe in the form of the Ifo survey numbers that tracked the dampened mood in the German business sector. The closely monitored Ifo business climate indicator and the sub-componen…Read more