Archive: May2016

Sterling down sharply as ICM opinion poll puts Brexit Camp in the lead

31 May 2016
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United States Dollar: GBP/USD spent most of yesterday morning regaining a little ground following Friday’s Fed chairman comments but then tumbled in the wake of an ICM Brexit poll which put the leave camp in the lead. With no UK data releases …

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Fridays Bullish comments from Fed Chair Yellen help to support the Greenback

30 May 2016
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United States Dollar: With the spring bank holiday in the UK and Memorial day in the US yesterday there was little data to move GBP/USD and instead the pair spent the day rebounding following Fridays comments from Fed Chairman Janet Yellen. In a spe…

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Dollar data dominates docket

26 May 2016
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United States Dollar: Most of the data from the USA yesterday beat expectations. Unemployment fell, Durable goods orders forecast of 0.3% and came in at 3.4 and the Pending home sales result was 4.5% over target with a reading of 5.1%, the highest le…

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Rising risk appetite spreads through the market

25 May 2016
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United States Dollar: The new home sales data from yesterday has generated confidence that the USD will be able to withstand future interest rate hikes. Couple this with the better than expected House Price Index and you can see that the data for the…

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Polls and Inflation comments push GBP higher

24 May 2016
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United States Dollar: New home sales posted positive results, way above estimated 521k the reading came in at 619k. The USD continued its climbs against most currencies but struggled against the improved GBP sentiment. Today’s releases for the …

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FOMC Members comments increase June hike possibility

23 May 2016
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United States Dollar: The USD weakened initially yesterday due to profit taking but then support came as the day continued. Most signs point to the support still coming from the FOMC minutes last week but also from the various comments from FOMC memb…

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June hike horizon nears

22 May 2016
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United States Dollar: Although Philly fed missed its mark and unemployment claims increased slightly more than expected, the tail end of last week saw the FOMC minutes point toward the potential for a June rate hike. At the start of the week probabil…

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Pound rises as UK Retail Sales beat forecast

19 May 2016
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United States Dollar: There was more good news for the pound yesterday as UK Retail Sales smashed forecast indicating the high street is in good shape as we entered the second quarter. With a 0.5% increase expected from March, April showed 1.3% growt…

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Sterling soars as poll signals remain camp to win EU referendum

18 May 2016
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United States Dollar: The pound rocketed yesterday as the latest opinion poll in the EU referendum showed the remain camp edging further into the lead. The poll in London’s Evening Standard conducted by Ipsos-Mori showed that 55% of those surve…

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Pound weakens on inflation data

17 May 2016
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United States Dollar: The pound fell yesterday as UK Inflation data undershot expectations for April. The headline CPI figure fell from 0.5% to 0.3% y/y with drops in airfares, clothing, vehicles and social housing rent acting as the biggest contribu…

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