Posts Tagged ‘GDP’
UK GDP & BoE
Posted in Currency News Currency Updates by mporter
The Pound has recovered back above 1.20 against the Euro and continues to trade around 1.55 against the US Dollar on the interbank market.
Despite UK Gross Domestic Product (GDP) data showing that the UK economy contracted by 0.2% in the final quarter of 2011, the initial market reaction suggests that many expected the data [...]
Bank of England Quarterly Inflation Report & Eurozone Bond Yields
Posted in Currency News Currency Updates by mporter
Today’s Bank of England Quarterly Inflation Report has suggested that UK inflation has peaked and is likely to fall sharply from its current rate of 5% (down from 5.25% in the previous month September) to 1.3% over two years. The Bank has also cut its UK economic growth forecasts to 1% for 2011 & 2012 [...]
European Sovereign Debt Crisis
Posted in Currency News Currency Updates by mporter
The European sovereign debt crisis continues to pose a significant threat to the recovery of the Euro-zone and to the wider global economy. The €109bn bail-out agreed in July for Greece may have averted an immediate significant Greek default and contagion spreading to Ireland, Italy, Portugal, and Spain but the Euro-zone continues to face significant [...]
UK GDP DISAPPOINTS
Posted in Currency News Currency Updates by mporter
The Pound has reacted negatively this morning to the revised UK GDP figures. Many analysts were hopeful that the disappointing UK GDP data numbers released at the end of January would be revised higher. However, the new data showed that the UK economy contracted by -0.6% in the final quarter of 2010 compared to the [...]
Currency Update – UK GDP
Posted in Currency News Currency Updates by mporter
Sterling has tumbled this morning following the release of UK GDP figures which were much worse than analysts had expected. The shock numbers showed that the UK economy shrank by 0.5% over the last 3 months of 2010. The severe weather seen in December dramatically hit GDP, particularly in the construction and service sectors. However, [...]
Better than expected…
The Pound has continued its recent recovery against the Euro and the US Dollar following the double bout of good news released earlier this week of better than expected UK GDP and S & P’s UK credit rating upgrade to AAA Stable. The Pound is now trading near 1.15 against the Euro and near 1.59 [...]
UK GDP figures boost Sterling
This morning the Office for National Statistics released its latest UK GDP estimate. The estimate was better than market expectations at 1.1% quarter on quarter and at 1.6% year on year.
As a result the Pound has appreciated towards 1.54 against the US Dollar and 1.19 against the Euro.
Currency News
Posted in Currency News Currency Updates by mporter
Last week the currency markets were firmly focused on the Euro with the fiscal problems of Greece and also Spain and Portugal taking the headlines. Speculation built throughout the week that the other European Monetary Union states, led by Germany, would come to Greece’s aid. However, markets were clearly disappointed that whilst a rescue package [...]
Currency Update
The currency markets have started the week in a relatively tight range, however it is possible we could see some volatility as any moves in the market could be exaggerated due to thin market conditions. Levels of trading will likely decrease further as we near Christmas.
Major data this week includes UK and US GDP tomorrow, [...]
Currency Update
Posted in Currency News Currency Updates by mporter
The US Dollar remains under pressure as gold soars past $1,130 an ounce. EURUSD climbed as high as 1.4993 and has now settled around 1.4970. The Pound has also had a good day against the US Dollar hitting an interbank high of 1.6780 so far. The markets will now be eyeing Fed Chairman Ben Bernanke’s [...]
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