currecncy insight

Sterling dips against Euro and US dollar

Sterling has slumped against the EUR and USD. Inflation will also be in focus in the US with the release of the consumer expenditure deflator for January and Bank of England Governor Bailey has strongly emphasised that, while the economic outlook is brightening, monetary policy will need to be supportive for a considerable period.
currecncy insight

GBP/NZD under pressure

NZD was the main mover overnight as NZ finance minister announced a shift in housing policy. The pound had a great run over the last month – rallying up to 1.17, but it’s now turned over, we may see a continued correction down to 1.1400, so if you have any EUR requirements, it’ll be worth converting some now...
currecncy insight

Sterling still breaking new highs

The Pound made fresh highs overnight with GBP/USD spiking to just above $1.4200, the highest it has been since January 2016. Potential market movers today are speeches from the Bank of England governor, the second half of Jerome Powell’s testimony, US new home sales and US crude oil inventories.
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Disappointing NZ retail sales shake Kiwi Dollar

In overnight news, we hear that New Zealand’s consumers bought less in Q4 than had been forecast. The 2.7% decline in the last three months of 2020 was well below the markets’ expectations, and the NZ Dollar weakened. UK unemployment rate rose to 5.1% in December with average earnings rose by 4.1% in December, up from 3.6% in November.
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GBPUSD probing above $1.40 for first time in 35 months

The Sterling – US Dollar rate poked through $1.40 on Friday, and GBPEUR broke through €1.15 as the UK markets prepare to hear what the British Prime Minister has to say about re-opening the UK economy. Boris Johnson is due to speak in Parliament this afternoon, and...
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Sterling has a stellar Thursday on vaccine pace

Yesterday the Pound made a fresh 34 month high against the USD and reached the highest level against the Euro since the first Covid lockdown in March 2020. US weekly jobless data showed an unexpected jump in claims with the US Dollar coming under pressure against most currencies...
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US retail sales leap above expectations

US Retail Sales figures smashed all expectations with a leap of 5.3% in January, far above expectations. European Commission consumer confidence reading for February is expected to be unchanged from January at -15.5. Confidence actually fell last month, possibly due to reports that vaccine rollout in the EU has so far been disappointingly slow.
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UK inflation up 0.7% on year

UK inflation, published 1st thing this morning, rose to 0.7% for the year to January, which improved the mood somewhat. So sterling’s slide abated around $1.3880. Canadian inflation data is due this afternoon. A reading of 1.4% on the year is most likely, and that will support the Canadian Dollar to some extent...
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PM Boris Johnson cautious on lockdown easing

Boris Johnson reiterated that he wants the current lockdown to be last with easing restrictions being gradual, starting with schools reopening from 8 March. He is scheduled to set out a roadmap out of lockdown for England next Monday, 22 February.
currecncy insight

UK economy shrank by 9.9% in 2020 but recovery signs in Q4

UK economy shrank by 9.% in 2020 but the British economy grew by 1.0% in Q4 despite the lockdown. The US Dollar is still under pressure with retail sales, housing market data and consumer price inflation data due this week...
currecncy insight

UK economy suffers 9.9% slump

UK economy shrank by a record 9.9% last year as COVID-19 restrictions hit output. However, December saw the economy grow by 1.2% beating forecasts of 1%. The UK has vaccinated more people than other European countries so far, raising the prospect of a rebound for its economy later this year.
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Sterling advances as negative interest rate fears ebb

The Pound is having a pretty good time of it as the perception of the likelihood of negative UK interest rates subsides and the roll-out of the covid vaccine continues to impress. Australian inflation expectations rise to boost Aussie Dollar. GBPAUD dropped the best part of a cent to this morning’s A$1.7870...