All Articles Tagged - EURGBP

Forex News – UK Conservatives’ lead halves in polls, sending sterling below $1.30

Posted on May 22, 2017 at 12:52 pm GMT

The ruling Conservative party in the UK is facing a backlash from both voters and party members following the inclusion in the party’s election manifesto of controversial changes to how social care would be funded for the elderly. The unpopularity of the policy was evident in the latest opinion polls from the weekend which pointed to a significant drop in support for Prime Minister Theresa May’s party. One poll showed the Conservatives slipped 5 points to 43%, while the main [..]

Forex News – Sterling breaks $1.30 after strong UK retail sales data

Posted on May 18, 2017 at 10:39 am GMT

Sterling rallied strongly against the dollar after a strong UK retail sales report today, which showed the biggest gain in sales since January 2016. Cable jumped above the key $1.30 level for the first time since September 2016 to hit $1.3046, while the euro fell against the pound to 85.23 pence. UK retail sales for April beat expectations to rise 2.3% month-on-month. This was more than double the 1.0% forecast and reversed the 1.4% decline in March when sales recorded [..]

Forex Market Review (European Session) – Dollar slumps below 112 yen as gold surges; euro and pound extend gains

Posted on May 17, 2017 at 3:04 pm GMT

The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]

FX Daily Outlook | 17-05-17

Posted on May 17, 2017 at 8:51 am GMT

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Forex Market Review (Asian Session) – Dollar extends losses on US political concerns; euro rises to $1.11

Posted on May 17, 2017 at 7:40 am GMT

The main focus of the markets in Asia today was on US political concerns as President Donald Trump continued to create controversy. Risk aversion led to a stronger safe haven yen while gold also benefitted from a weaker dollar. The euro rose to a fresh six-month high. A recent batch of soft US economic data has raised doubts about whether the Federal Reserve will raise interest rates at its upcoming meeting in June, as was much hoped for by the [..]

Forex Market Review (European Session) – Euro surges to 6-month high after German ZEW and Eurozone GDP data; benefits from weak dollar

Posted on May 16, 2017 at 2:27 pm GMT

The euro was one of the best performing major currencies after surging on upbeat data out of the Eurozone. The single currency benefitted from a weaker dollar which was hurt by negative reports about the US President and his disclosure of sensitive information to Russian officials. The pound was briefly boosted by strong UK inflation data. The euro rallied to its highest level in six months against the dollar to reach $1.1088, as it was driven higher by upbeat data. [..]

Forex News – Pound slips below $1.29 as Bank of England warns of a slowdown

Posted on May 11, 2017 at 3:03 pm GMT

The Bank of England signalled it may have to raise interest rates sooner than what is being anticipated by the markets, as it kept monetary policy unchanged at the end of its two-day meeting today. Monetary policy committee (MPC) members voted 7-1 to hold rates at a record low of 0.25%, in a widely expected move. Outgoing MPC member, Kristin Forbes, was the sole dissenter for the second meeting in a row. There had been some speculation by market participants [..]

Forex Market Review (Asian Session) – Kiwi drops to 11-month low after RBNZ; pound steady ahead of BOE

Posted on May 11, 2017 at 7:32 am GMT

The New Zealand dollar under-performed after a neutral RBNZ policy outlook. Sterling was steady ahead of the Bank of England meeting and the release of the BOE quarterly inflation report. The kiwi tumbled to an 11-month low against the greenback as the RBNZ noted a lack of inflation pressure in the economy and indicated it would keep rates low for an extended period of time. The Bank left rates at 1.75%, which was widely expected, but the markets were hoping [..]

Forex Market Review (European Session) – Dollar at 113-yen after jobless claims before easing; strong Eurozone and UK PMI data

Posted on May 4, 2017 at 3:02 pm GMT

Plenty of data hit the markets today, including weekly jobless claims out of the US and April services PMI data for the UK and Eurozone, which also saw the release of final composite PMI figures for the same month. The dollar, as gauged by the dollar index, was down two-tenths of a percent in late European session trading with dollar / yen close to the day’s open of 112.73. Out of the US, last week’s jobless claims fell by 19,000 [..]

Forex News – UK services PMI builds on momentum from manufacturing and construction sectors; sterling fails to post gains

Posted on May 4, 2017 at 10:31 am GMT

The April PMI number for the services sector, by far the largest contributor to UK economic output, was released today. The number exceeded analysts’ estimates and came in at a four-month high. In addition, today’s figure builds on earlier momentum from the respective numbers for the manufacturing and construction sectors, which also surprised to the upside, and points to a picking up in economic activity during the second quarter of the year after the slowdown in the preceding quarter. Taking [..]

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