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UK Inflation Falls and Takes Pound With it
Posted in Currency News Currency Updates by mporter
As expected this morning UK inflation figures fell, even lower than what the markets had been expecting. UK Consumer Price Index fell to 2.4%, down from 2.8% the previous month and below market expectations of 2.6%. UK Core Consumer price index was also down 40 basis points to 2.0%, recording a figure below market expectations [...]
Euro Zone Inflates as Does the Euro
Posted in Currency News Currency Updates by mporter
Today is a day of inflation figures as UK, Euro Zone and US Consumer Price Index data is set to be released. So far today we have seen figures released confirming that UK inflation remains above the Bank of England’s target of 2%, with UK Consumer Price Index figures remaining unchanged at 2.8%. Euro Zone [...]
Currency Matters
Posted in Currency News Currency Updates by mporter
Yesterday saw substantial volatility within the markets courtesy of mixed PMI figures released in Europe and a tacit message from Mario Draghi suggesting that the European recovery will take longer than expected. Whilst the BOE’s decision to maintain interest rates and quantitative easing levels at their current level had little impact upon the markets, [...]
Cyprus Bailout
Not so much ‘good news and bad news’ for Cyprus this morning, rather ‘bad news and worse news’. Whilst on the face of it the 10 billion euro bailout, agreed by the Troika late last night to help save the fledging Cypriot economy, has helped reduce uncertainty within the Euro Zone as evidenced by market [...]
Pound Punished by PMI
The wait goes on. The wait for positive data concerning the UK economy that is. Whilst it is to be expected that data releases concerning a country’s economic performance will naturally vary from week to week, and month to month, it is far from the ordinary for a country, and in this case the UK, [...]
Sterling on Life Support
Posted in Currency News Currency Updates by mporter
Having dropped over 6% since the turn of the year against the Euro and the Dollar, Sterling has finally began to level off, at least for the time being, and has been trading relatively sideways for the past few days. After what had seemed to be an unrestricted collapse since January, Silvio Berlusconi came to [...]
Punch Bag Sterling
Posted in Currency News Currency Updates by mporter
Unemployment figures released this morning showed that the UK ILO Unemployment Rate rose marginally to 7.8% from 7.7%, whilst the UK Claimant Count Change improved to -12.5K for the third month in a row. However, this slight glimmer of hope that the UK economy may actually be starting to show signs of recovery, offered little [...]
European Sentiment Continues to Rise
Sterling is having a relatively volatile morning today as Cable is currently trading at 1.5485, after having tested 1.55 earlier, and going on to reach a daily high of 1.5504 before dropping back down. Similarly Sterling has had a wide trading range against the Euro this morning, having dropped to 1.1583 following the release of [...]
On Your Marks, Get Set, Manipulate
Posted in Currency News Currency Updates by mporter
The G20 followed a similar line over the weekend to the one that was adopted by the G7 earlier last week, as finance ministers of the world’s largest economies commented in a joint statement: “We will refrain from competitive devaluation. We will not target our exchange rates for competitive purposes”. The fact that the statement [...]
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