All Articles Tagged - EURGBP

Forex Market Review (Asian Session) – Euro holds strong as Puigdemont delays Catalonia’s independence; dollar heavy amid concerns on tax legislation

Posted on October 11, 2017 at 7:48 am GMT

The Asian session was relatively quiet on Wednesday as economic releases were limited. Following a stressful day in Spain, where Catalonia’s independence was put on hold, the euro remained strong above the 1.18-key level overnight, while the dollar was under pressure against its peers amid escalating geopolitical risks and fears of tax overhaul failing to turn into law. While thousands of people and armed police forces were gathered in front of the Catalan parliament ready to counteract a possible “Yes vote” on Catalonia’s separation [..]

Stock Market News (US Open) – FTSE helped by weakening sterling; major Wall Street benchmarks slightly down

Posted on October 6, 2017 at 2:43 pm GMT

The pan-European Stoxx 600 traded 0.3% lower not long before European traders head home for the weekend. Despite the decline, it remains up on the week and on track for its fourth consecutive weekly gain. Spain’s IBEX 35, which received additional attention this week due to ongoing tensions over Catalonia’s efforts to gain independence, was 0.4% down, having reversed a large part of losses recorded earlier in the day. The blue-chip benchmark suffered a poor week, with weekly losses standing [..]

Stock Market News (European Open) – Spanish stocks reverse into losses; bullish US sentiment reverberates to Asia

Posted on October 6, 2017 at 9:37 am GMT

In Asian markets, the Nikkei 225 and the Topix, Japan’s broader gauge of equity performance, both added 0.3%. Hong Kong’s Hang Seng rose by 0.3% and Australia’s S&P/ASX 200 gained 1.0%, making up for a significant part of losses from preceding days. US equities yet again hit all-time highs during yesterday’s trading, recording decent gains along the way as well. The Dow added 0.5%, the S&P 500 rose by 0.6% and the tech-heavy Nasdaq Composite added 0.8%. The S&P rose [..]

Forex Market Review (European Session) – Pound slides on political worries; euro weaker after ECB minutes

Posted on October 5, 2017 at 3:10 pm GMT

The pound was the worst performing major currency in Thursday’s European session as speculation mounted about whether the UK prime minister would resign. The euro also underperformed as the European Central Bank’s September meeting minutes showed policymakers wanted to maintain a “highly accommodative” monetary policy once tightening gets underway. The US dollar meanwhile was broadly firmer after another batch of solid US data. Fears about the possible resignation of British Prime Minister Theresa May were heightened today following a party [..]

Forex Market Review (European Session) – Dollar shines on ISM non-manufacturing PMI numbers; oil up after Putin’s remarks and EIA report

Posted on October 4, 2017 at 3:21 pm GMT

Not long before the session-end, the dollar index shot higher against its peers, reversing daily losses after the ISM non-manufacturing PMI readings for the month of September posted the highest mark since August 2015. The index surged by 4.5 points to 59.8, whilst projections were for a smaller increase to 55.5. New orders, employment and price PMI indices within the services industry also touched fresh highs, with prices surging the most in five years. The Markit equivalent also came in [..]

Forex News – UK services PMI lifts pound off 3-week lows but growth lags Eurozone

Posted on October 4, 2017 at 11:30 am GMT

Manufacturing and services PMI released in the UK this week indicate the British economy continues to expand at a moderate pace, easing concerns of a sharper slowdown or a recession as the Brexit uncertainty bites on growth. However, when put against the backdrop of a weaker sterling and accelerating growth elsewhere in the world, notably the Eurozone, recent UK economic data leaves much to be desired. Data out on Monday showed the IHS Markit/CIPS manufacturing PMI eased to 55.9 in [..]

Forex Market Review (European Session) – Dollar strengthens after manufacturing PMI beat; pound hits three-week low as manufacturing industry slows

Posted on October 2, 2017 at 3:22 pm GMT

The dollar continued its rally during the European session and managed to peak at a two-week high against its major peers following upbeat manufacturing PMI releases, although a music festival in Las Vegas turned into the deadliest mass shooting in US history. However, gains from positive data were short-lived following dovish remarks by the Minneapolis Fed President Neel Kashkari. The UK manufacturing PMI numbers failed to provide support to the pound, which was one of the worst performing currencies relative to the dollar during the day, hitting [..]

Forex Market Review (Asian Session) – Euro dips into losses after violent Catalan independence vote; dollar gains

Posted on October 2, 2017 at 8:04 am GMT

With markets in China, South Korea, Hong Kong and India being closed for public holidays, the dollar managed to recover from earlier losses against its peers in Asia – helped by higher US Treasury yields – while the euro recorded a downtrend in the wake of a political crisis in Spain. The dollar posted gains versus a basket of major currencies during the Asian session on the back of higher US Treasury yields, with the dollar index rising by 0.40% on the day to 93.26. [..]

Forex Market Review (European Session) – Dollar reverses losses after Chicago PMI beat; pound slips as GDP growth disappoints

Posted on September 29, 2017 at 3:37 pm GMT

In a relatively busy data session, investors turned their attention back to the economic calendar, while concerns over Trump’s tax proposals continued to weigh on the markets. Disappointing US inflation readings had a moderate impact on the dollar as markets were optimistic that the Fed would deliver another rate hike in December after Fed Chair, Janet Yellen, supported on Tuesday a gradual rate hike despite the weakness in inflation. The pound was the worst performer following weaker GDP growth readings. [..]

Stock Market News (European Open) – Stoxx 600 close to flat; FTSE on the rise on weakening pound; Volkswagen falls

Posted on September 29, 2017 at 10:09 am GMT

The Nikkei 225 finished the day marginally lower with Japan’s broader index, the Topix, declining by 0.1%. Hong Kong’s Hang Seng and the Shanghai Composite added 0.5% and 0.3% respectively, with Australia’s S&P/ASX 200 adding 0.2%. Major markets in Asia will be closed for holidays next week – this includes mainland China which will be holding National Day celebrations throughout the week. Equity traders have been paying close attention to the Trump administration’s tax plan in recent days, with questions remaining [..]

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