Posts Tagged ‘Inflation’
GBP 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 MorePound 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 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…
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