Posts Tagged ‘EUR’
Pound Struggles for Support, Euro Faces Economic Uncertainty, and Dollar Gains Momentum
GBP Sterling is looking for support after a significant drop against the Dollar on Tuesday. The GBP|USD pair faced downward pressure as investors rethought the positive outlook supporting the rise in risk-related assets. Additionally, concerns about a worsening recession and a delicate manufacturing sector within the United Kingdom have made the Pound less attractive. At…
Read MoreSterling’s Steady Surge, Euro’s Resilience, and Dollar’s Dynamics
GBP Last week witnessed a rally in GBP|EUR up to 1.1660, spurred by the release of PMI figures surpassing expectations. However, the pair faced resistance at the key 1.17 level, which it couldn’t breach. The disappointment in Eurozone PMI numbers further added to Sterling’s strength. Although it fell short of reaching 1.17, the upcoming release…
Read MoreSterling Strength, Euro’s Reckoning, and Dollar’s Caution in the Week Ahead
GBP Sterling has been displaying strength against a majority of its G10 counterparts over the past fortnight, setting the stage for another significant week ahead. The upcoming data calendar is brimming with impactful releases throughout the week, leaving us to wonder whether the Pound will extend its 2023 highs or experience a retracement in what…
Read MoreSterling Optimism, Euro Challenges, and Dollar’s Dilemma
GBP The Pound continued its upward trajectory against both the Euro and the Dollar this week, reaching multi-month highs of 1.1680 and 1.2720, respectively. Sterling’s ascent was fueled by the optimistic statements from various Bank of England (BoE) officials, including Governor Andrew Bailey, following robust UK business PMI data in the previous week. Throughout the…
Read MoreSterling’s Surge, Euro’s Insights, and USD’s Week Ahead
GBP Pound Sterling capitalised on the optimistic statements from Bank of England policy makers during their parliamentary hearings on the November Monetary Policy Report this Tuesday. Bolstered by positive November PMI readings, indicating a return to economic growth after months of stagnation, Sterling made significant gains against most G10 peers. The fiscal landscape also played…
Read MoreSterling’s Slide, Euro’s Battle, and Dollar’s Thanksgiving Thrills
GBP Last week, Sterling experienced a downturn against most of its G10 counterparts, influenced by the latest UK Retail Sales Data, which revealed a significant dip to levels reminiscent of the pandemic era. Notably, retail sales contracted by 2.4% in the year to October, marking a notable decline from September’s -1.5% and falling below the…
Read MoreGBP Finds Optimism, EUR Faces ECB Debate, USD Treads Carefully on Economic Data
GBP Sterling discovers some optimism as the UK manages to avoid an economic decline in the third quarter. However, the UK’s economic outlook isn’t great due to the rising cost of living, higher borrowing costs, labour market challenges, and ongoing price pressures. Increased borrowing costs have impacted the housing sector, with home asking prices falling…
Read MorePound’s Rebound, Eurozone Expectations & Dollar’s Rollercoaster
GBP The British Pound had quite a journey last week. The Bank of England (BoE) decided to keep things stable by maintaining the interest rates at 5.25% for the second time in a row. This decision injected some strength into the Pound. New inflation forecasts from the BoE have predicted that consumer inflation might cool…
Read MoreGBP Faces Retail Sales Slump, EUR Keeps Eyes on Key PMI, USD Weathers Geopolitical Storms
GBP Sterling saw a decline on Friday in response to the latest Retail Sales data for September released by the UK Office for National Statistics. These figures revealed a 0.9% drop in Monthly Retail Sales, a crucial gauge of consumer spending, significantly worse than the expected 0.1% decrease. In contrast, August witnessed a 0.4% increase…
Read MoreSterling Weakens on Soft Wage Data, Eurozone Concerns Loom & Dollar Holds Steady
GBP Sterling retreated against both the Euro and Dollar this week after the release of soft wage data, which further reinforced BoE’s decision to hold interest rates for the time being. The three-month-to-August Average Earnings, excluding bonuses, softened to 7.8%, as expected, compared to the previous release of 7.9%. Alongside this, Average Earnings data, including…
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