forex news

Forex News – UK inflation rises above-forecast but below BOE target

Posted on May 20, 2014 at 10:32 am GMT

UK headline inflation rose above-forecasts in April to an annual rate of 1.8 percent from 1.6 percent in March. The figure was below the Bank of England’s target rate of 2 percent but has moved off its lowest level in more than four years. Expectations were for a reading of 1.7 percent. The Easter holidays pushed up the cost of traveling, leading to higher airfares and other transport costs, including a stronger reading of fuel prices compared with a year [..]

Forex News – Euro under pressure as Draghi expected to take action

Posted on May 19, 2014 at 10:14 am GMT

The euro has fallen from more-than-2-year highs above 1.39 to test the 1.37 level. The main cause of the single currency’s recent weakness was due to growing expectations that the European Central Bank president will ease monetary policy in June after ECB President Mario Draghi said on May 8 that officials are “comfortable” with acting then. Draghi indicated that any worsening of the medium-term inflation outlook would warrant broad-based asset purchases. As a result, market participants are preparing for a [..]

European Session – Currency ranges ahead of Yellen’s testimony

Posted on May 7, 2014 at 1:48 pm GMT

It was a quiet day on the data calendar today keeping most major currency pairs in ranges except for dollar/ yen which rose ahead of Fed Chair Yellen’s testimony later today before the Joint Economic Committee of Congress. The only data released out of Europe were the French Industrial Production and the German Factory Orders numbers, with both sets of data disappointing markets and coming in well below forecasts. Despite the soft data, the euro held steady against the dollar [..]

Forex News – Sterling boosted after UK Manufacturing PMI hits 5-month high

Posted on May 1, 2014 at 10:13 am GMT

The British pound strengthened after the UK purchasing managers’ index (PMI) advanced higher in March to hit a five month high. The seasonally adjusted data collected by Markit/CIPS between 11-25 April showed the PMI printed a reading of 57.3, surpassing the 55.8 figure in March. Manufacturing production expanded at a robust pace as enterprises in the UK increased their new orders, both due to increased domestic as well as overseas demand. Factory production expanded at the fastest in four years [..]

Forex News – UK inflation remains below BOE target at 4-year lows

Posted on April 15, 2014 at 10:39 am GMT

The headline UK inflation rate for March was released today, indicating a drop to the lowest level in four years. This marks the third consecutive month inflation has been below the Bank of England’s 2% target rate. Lower fuel and food prices were the main factors pushing the consumer price index (CPI) down to 1.6% year-on-year, the lowest since October 2009. This was in line with expectations but lower from the previous reading of 1.7% for the February year-on-year rate. [..]

Forex News – German industrial output up for 4th consecutive month

Posted on April 7, 2014 at 12:38 pm GMT

Europe’s largest economy showed signs of strength in February as industrial output expanded by more-than-forecast. German industrial output rose 0.4% on a price, seasonally and working day adjusted basis according to provisional data of the country’s Federal Statistical Office released today. This beat estimates for a 0.3% increase and was the fourth straight month that output rose. A catalyst for the strong growth was a higher production of intermediate goods. Factories produced 1.3% more intermediate goods in February from January. [..]

Forex News – Soft Eurozone inflation briefly impacts euro, focus shifts to ECB meeting

Posted on March 31, 2014 at 11:05 am GMT

Inflation in the Eurozone fell more-than-forecast according to a flash estimate for March, reaching its lowest level in four years. Data released on Monday show that annual CPI fell from February’s 0.7% to 0.5% this month, the lowest since 2009 and far from the European Central Bank’s target of just below 2%. The disappointing data is raising speculation that the ECB will take some kind of action at its April 3 policy meeting. The ECB has to assess how much [..]

Forex News – Weekly Review – AUD outperforms, EUR falls as ECB mulls QE, USD looks to nonfarm payrolls

Posted on March 28, 2014 at 1:48 pm GMT

The main theme of the past week was central bankers rhetoric, driving currencies like the euro to three-week lows against the dollar and the Australian dollar to fresh four-month highs. Several European Central Bank Governing Council members made remarks this week that suggested the ECB was open to using further monetary policy measures such as quantitative easing in order to tackle deflation in the Eurozone. This dented the euro, while a series of disappointing data also weighed and kept the [..]

Forex News – UK retail sales beat forecasts lifting sterling

Posted on March 27, 2014 at 10:29 am GMT

UK retail sales data beat forecasts to rise in February, sending the British pound to a 3-week high against the euro. According to data from the Office of National Statistics sales volumes jumped 1.7% month-on-month in February and 3.7% year-on-year. The monthly figure showed a rebound from January’s 2.0 % drop. Forecasts were for retail sales to rise 0.5% on the month and 2.5% on the year. The retail sales figures include auto fuel of which sales increased 0.9%. Acting [..]

Forex News – ECB talk of QE pressures euro

Posted on March 26, 2014 at 1:27 pm GMT

Eurozone deflation risks have been a concern to several European Central Bank policy makers recently and have led to suggestions that further monetary policy measures could be taken if necessary in order to combat deflation. ECB governing council members including Jozef Makuch, Governor of the Slovak National Bank, told reporters on Tuesday after presenting a new inflation outlook for Slovakia, that the ECB was preparing additional non-standard measures to avoid a deflationary environment. He added that there was potential for [..]

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