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Forex News – Pound hits 1-year high vs dollar as BOE signals higher rates

Posted on September 14, 2017 at 2:32 pm GMT

On Thursday, the Bank of England decided to keep interest rates and its two asset purchase programs unchanged. However, the pound rallied to a one-year high against the dollar and near to a two-month high versus the euro after the monetary statement revealed that the central bank might raise interest rates sooner than markets anticipate. During European trading hours, the majority of the Monetary Policy Committee concluded that interest rates should remain steady at 0.25%, while the central bank should [..]

Forex News – Stronger-than-expected Australian Labor data push aussie higher

Posted on September 14, 2017 at 11:32 am GMT

The aussie was hovering around a 10-day low of $0.7970 during early Asian hours when upbeat labor figures out of Australia for the month of August lifted the currency slightly above the $0.80 key-level. However, improving conditions in the labor environment are said to do little for interest rates to rise from record-low levels as price pressures remain subdued. According to the Australian Bureau of Statistics, the economy added 54,200 jobs in August instead of the 15,000 expected and almost twice the [..]

Forex News – Pound surges to 1-year high versus dollar as UK inflation approaches 3%

Posted on September 12, 2017 at 1:14 pm GMT

The pound climbed by almost 1% on Tuesday during the European trading hours, hitting a one-year high against the greenback and extending gains versus the euro after the widely expected UK inflation figures for the month of August came in stronger than expected. With consumer prices rising to a four-year high reached first on May, BOE policymakers will consider seriously whether to deliver a rate hike on Thursday as inflation continues growing above the central bank’s target but wages remain subdued. According to the National [..]

Week Ahead – BoE MPC vote eyed amid slowing UK growth; US CPI and retail sales in focus before FOMC

Posted on September 8, 2017 at 3:26 pm GMT

Industrial output and retail sales data will dominate the economic calendar week, and inflation and employment will also be in focus. However, the week looks set to be a less dramatic one from the past seven days with policy meetings by the Bank of England and the Swiss National Bank unlikely to bring much surprises. Australian employment report to be watched as aussie rallies The Australian dollar is on track to end the week 1.5% higher against its US counterpart [..]

Forex News – Euro fluctuates after ECB meeting; little new from Draghi

Posted on September 7, 2017 at 3:19 pm GMT

The European Central Bank revealed little new about future policy at the end of its two-day policy meeting today, keeping interest rates and the size of its asset purchases unchanged as expected. Although ECB officials had been signalling that policymakers would not be ready to make a decision on scaling back their stimulus program at the September meeting, there were expectations that President Mario Draghi would use today’s press conference to lay the groundwork for a possible October announcement. However, [..]

Forex News – Australian Q2 GDP growth puts pressure on the aussie

Posted on September 6, 2017 at 10:43 am GMT

A day after the Reserve Bank of Australia decided to hold cash rates at a record low of 1.5% and maintained its optimism about the future economic performance of the country, the Australian Bureau of Statistics (ABS) published the GDP growth figures for the second quarter on Wednesday. These surprised analysts to the downside pushing consequently the aussie down. The Australian economy expanded by 0.8% quarter-on-quarter in the three months to June, 0.5 percentage points higher than in the previous quarter and registering its 26-year consecutive growth [..]

Forex News – Euro drifts lower as Eurozone economic activity stagnates and consumers spend less

Posted on September 5, 2017 at 2:26 pm GMT

Today’s evidence of Eurozone’s economic activity and consumption will sound good news to ECB policymaker’s ears on Thursday when they will gather to decide on monetary policy in Frankfurt. Despite overall economic activity slowing down in August and retail sales declining in the same period, their levels remained robust, supporting GDP growth in the third quarter of the year. In the wake of the data, the euro reacted negatively while it was trying to build an uptrend. Following upbeat manufacturing PMI results out of the Eurozone last [..]

Forex News – As Brexit talks falter, UK services activity slows but exporters see signs of upturn

Posted on September 5, 2017 at 1:18 pm GMT

After defying all the Brexit doom-mongers in the initial aftermath of the shock referendum result, the British economy appears to be succumbing to the uncertainty, with GDP in the first half of the year growing at its slowest in five years. Talks between Britain and the European Union have not gotten to a very good start, with little progress made on key issues after three rounds of negotiations. The uncertain future of the UK’s relationship with its European partners is [..]

Week Ahead – Markets look to ECB meeting for euro and tapering guidance; RBA and BoC also meet

Posted on September 1, 2017 at 3:14 pm GMT

Monetary policy will dominate the coming week as the central banks of Australia, Canada, the Eurozone and Sweden hold their scheduled policy meetings. Data wise, the focus will be on trade and industrial output indicators, with a number of countries reporting, including Germany, France and the United Kingdom. However, it will be a slow start to the week with both US and Canadian markets closed on Monday for Labour Day. Important week for aussie with GDP and RBA meeting The [..]

Forex News – Stronger than expected Eurozone flash CPI fails to lift struggling euro

Posted on August 31, 2017 at 12:32 pm GMT

Following the rise in the Eurozone’s economic sentiment gauge published yesterday, which peaked at the highest level in August since the global financial crisis, inflation for the same month based on flash estimates showed signs of acceleration, while unemployment remained steady. Although the data increase the odds of policy tightening by the ECB at the policy meeting next week, the euro reacted negatively. According to preliminary figures released by Eurostat on Thursday, Eurozone headline inflation rose to 1.5% y/y in August, [..]

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