Posts Tagged ‘Inflation’
Pound’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…
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 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…
Read MoreChallenges and Uncertainties Await Sterling
GBP Sterling has been under relentless pressure against the Dollar for the past 11 weeks, due to investors and speculators worrying about the UK’ weak economic outlook. Analysts predict that the selloff is likely to continue, with a target of GBP|USD 1.20 in the coming weeks (currently 1.2187 at the time of writing). GBP|EUR also…
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