All Articles Tagged - EURGBP

Stock Market News (European Open) – FTSE boosted by falling sterling; Japanese indices extend losses

Posted on November 13, 2017 at 9:49 am GMT

In Asian equities, the Japanese Nikkei 225 and Topix indices finished the day lower by 1.3% and 0.9% respectively, further distancing themselves from the multi-decade highs recorded last week. The Nikkei recorded its worst daily performance since May. Hong Kong’s Hang Seng added 0.2% to finish at its highest in almost ten years and the Shanghai Composite climbed by 0.5%, closing at its highest in more than one year. Australia’s S&P/ASX 200 slid 0.1%, being not far below its highest [..]

Forex Market Review (European Session) – Tax reform uncertainty continues weighing on the dollar; Brexit talks resume

Posted on November 9, 2017 at 3:44 pm GMT

In another mostly quiet day in terms of data releases, forex market participants’ attention remained firmly on the US tax reform front. Jobless claims and wholesale inventory data out of the US did generate some interest, though market reaction following the releases was subdued. Meanwhile, Brexit negotiations are resuming today. At 1526 GMT the dollar index traded 0.25% down on the day at 94.63. Once again, the prospect of a delay in the delivery of tax cuts or reforms offering [..]

Special Report – UK economy at important crossroads: Brexit and wider politics, inflation and interest rate decisions setting the outlook

Posted on November 6, 2017 at 3:10 pm GMT

The UK economy’s resilience to the Brexit vote did not continue into 2017 as largely upbeat economic releases following last year’s vote did not manage to maintain momentum with economic activity eventually slowing down. Meanwhile, June 2016’s vote shock led to sterling depreciating versus other currencies, pushing inflation higher. Inflation is growing at a faster pace than wage growth resulting in consumers’ reduced purchasing power. This is negatively affecting spending patterns. The Bank of England proceeded with a rate rise [..]

Forex Market Review (Asian Session) – Dollar little changed ahead of jobs report; aussie loses ground on weak retail sales

Posted on November 3, 2017 at 8:29 am GMT

As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT. At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It yesterday fell to a one-week low of 94.41, perhaps on uncertainty related to US tax reform. Euro/dollar was 0.1% lower and not far below 1.1650. Dollar/yen was flat, a few [..]

Forex Market Review (European Session) – Pound plunges on ‘dovish’ rate hike; dollar unmoved by tax plan, Powell nomination

Posted on November 2, 2017 at 3:37 pm GMT

The pound was the biggest loser of today’s foreign exchange action after the Bank of England hiked rates by a quarter point but promised to be ‘gradual’ regarding future rate increases. The US dollar failed to benefit from the unveiling of key details regarding the tax reform plan of President Trump and Congressional Republicans. The pound lost more than a cent against the dollar as it dropped to 1.3087 after the Bank of England raised interest rates but was cautious [..]

Forex Market Review (European Session) – Dollar and pound bolstered by upbeat data ahead of rate decisions

Posted on November 1, 2017 at 3:30 pm GMT

The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being the day’s worst performers. Manufacturing PMI out of the UK was the main data release in Europe. The index rose from an upwardly revised 56.0 [..]

Forex Market Review (European Session) – Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Posted on October 31, 2017 at 3:26 pm GMT

The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit talks are getting on the right path, while the dollar advanced following upbeat figures on consumer confidence. The dollar’s index against a basket of currencies [..]

Stock Market News (European Open) – Weaker euro, sterling boost exporter-heavy European indices; DAX, CAC hit record highs; Chevron, Exxon eyed

Posted on October 27, 2017 at 10:00 am GMT

Out of Asia, the Nikkei 225 added 1.2% to close above the 22,000 mark for the first time since 1996. The Topix, Japan’s broader gauge of equity performance, gained 1.0% to finish at its highest since July 2007. The two exporter-heavy benchmarks were supported as dollar/yen was on the rise. The pair today touched 114.31, its highest since July 11. Hong Kong’s Hang Seng advanced 0.8% and the Shanghai Composite climbed by 0.3%. Australia’s S&P/ASX 200 lost 0.2%. The picture [..]

Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:44 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

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