Posts Tagged ‘Inflation’
Sterling Upbeat on Economic Growth, Euro Flattens & Dollar Shows Strength Amid Election Speculation
GBP Sterling has experienced significant movement as of late, boosted by a resilient economy and hopes for political stability. Top tier banks are optimistic about the Pound’s performance, with forecasts suggesting it will continue to strengthen. This year, the Pound has been the best-performing major currency, climbing around 2% against the Dollar to 1.30 (now…
Read MoreSterling Under Pressure, Eurozone Awaits Key Data, US Dollar Reacts to Fed Signals
GBP Sterling faced rejection once again at the $1.28 level against the US Dollar but is still holding strong above €1.18 against the Euro. Last week investors were seeing less than a 50% chance of an interest rate hike in August. This, combined with the European Central Bank cutting rates last week, pushed the Pound…
Read MoreSterling Showing Strength, Euro Awaits ECB Speech & Dollar Struggles for Recovery
GBP Sterling has faced notable volatility over recent weeks, primarily due to the Bank of England’s decision to maintain interest rates at 5.25% for the sixth consecutive time on May 9th. This decision initially triggered a sharp sell-off, causing GBP/EUR to dip to around 1.1605 and GBP/USD to fall to approximately 1.2450. However, both currency…
Read MoreGeopolitical Tensions Drive Investors to USD
GBP Sterling took a hit, sliding to its lowest point against the Dollar since November, now hovering just above the 1.24 mark, all down to Dollar strength, mainly due to tensions in the Middle East boosting the Dollar’s safe-haven appeal. Sterling is trading better against the Euro, trading around 1.1710, with the Euro weakness mainly…
Read MoreSterling Faces Evaluation, Eurozone Calm, Dollar Eyes Data
GBP Sterling’s upward trajectory will encounter a critical evaluation this week as the UK prepares to unveil its latest job market data. Of particular significance will be wage growth metrics, now deemed pivotal indicators for the Bank of England alongside service sector inflation. Additionally, this week brings noteworthy releases such as January’s GDP and February’s…
Read MoreGBP Shows Strength, EUR Awaits ECB Decision & USD Faces Downward Pressure
GBP The UK economic landscape displays signs of improvement, with February’s PMI figures surpassing expectations. Despite this positive trend, inflation in the UK remains the highest among G-7 nations, prompting the Bank of England to maintain interest rates in restrictive territory for an extended period. Amidst this backdrop, the Pound has advanced against both the…
Read MoreSterling Weighted by Uncertainty, Euro Braces Amidst Policy Divergence & Dollar Holds Steady
GBP The Pound experienced a decline from its recent monthly high against the Dollar, dropping to approximately 1.2610 (current as of time of writing), just ahead of Bank of England Governor Andrew Bailey’s scheduled speech this evening. GBP|EUR has traded fairly flat since dropping from its monthly high of 1.1740 last week, currently trading at…
Read MoreGBP Faces Headwinds, EUR Treads Cautiously, and USD Strengthens on Robust Jobs Data
GBP Sterling faced significant headwinds during the European session on Monday, as market sentiment turned sour. GBP|USD witnessed a sharp decline, driven by the robust Nonfarm Payrolls data from the United States on Friday, which tempered expectations of a Federal Reserve rate cut in March. The strong US job creation figures, coupled with unexpected wage…
Read MoreSterling’s Stand, Euro’s Crossroads and Dollar’s Delicate Dance
GBP Sterling experienced a morning sell-off but has since rebounded, with a keen eye on the upcoming UK labour market data set to be unveiled on Tuesday. As of the time of writing, GBP|EUR stands at 1.1626, and GBP|USD at 1.2722. Despite being the top-performing major currency in 2024, the momentum for Sterling might face…
Read MorePound’s Resilience, Euro’s Tussle, and the Dollar’s Balancing Act
GBP Sterling successfully held its recent gains against its G10 peers, primarily due to diminishing expectations of a potential interest rate cut by the Bank of England. Notably, GBP|EUR strengthened by over 0.5% last week and is currently sitting at 1.1627. After taking a hit at the start of the year, GBP|USD has since recovered…
Read More