Manufacturing News

Japanese Yen and other currencies beat Dollar

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The US Dollar fell in early trading as Asian markets considered continued concerns about the US-China trade wars and markets have turned to alternative risk-friendly currencies. The Japanese Yen, and Gold, often viewed as the ultimate ‘safe haven' in many investors’ minds, benefitted. Even Sterling strengthened against its American currency counterpart, thanks to weaker currency partners and a pick-me-up from the political polls. The election uncertainty continues to set Sterling’s fortunes.

Sterling unmoved ahead of further political polls

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The vile, meaningless murders committed on London Bridge on Friday have generated some rather unsavoury politicking around crime and punishment but none of the politics has affected the Pound. We are due a number of election polls this week, however, and some interesting data. Today's Manufacturing Purchasing Managers' Index (PMI) unfortunately showed further contraction to 48.9 for November, under that 50.0 growth figure, but the more influential Service Sector release is also due this week. We are 10 days from a general election and we expect more fireworks on that.

Much more for markets before there is time to be thankful

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You would be forgiven for thinking that it may be quiet in the US for Thanksgiving week, but there are a number of key economic announcements expected and, as always, a public holiday can lead to increased activity in the currency markets

Trade and political tensions driving currency markets

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The data diary for the US is light this week, in the run up to the Thanksgiving holiday, but some key announcements include Tuesday’s home construction figures and the Jobless Claims report due on Thursday. Housing starts showed a drop for September, which was hoped to be a temporary blip, so those keeping a close eye on the US markets will have been relieved to see a significant rebound this time around, with building permits up to the highest level since 2007.

Sterling and NZD start week surprise strongest currencies

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The week started slowly on the data and economic front, with Veterans Day in the USA and a number of public holidays across the globe to remember those we lost in past conflicts.  This didn’t stop currency or stock markets  from moving, however, or indeed stop politics from influencing these market movements.

Mixed week for economic announcements – what does it mean?

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The Bank of England publishes its latest Monetary Policy Committee (MPC) Minutes on Thursday, along with a report on monetary policy, in place of the usual quarterly inflation report. Markets do not expect much change in the UK’s inflation data, but expectations are growing of a decrease in interest rates. Whether this will be at Thursday’s meeting or the next is the question. Either report from the UK’s central bank could help or hinder the Pound, however, so markets will be watching for a range of signals and economic indicators on Thursday.

Look for the silver lining in latest manufacturing results

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There was slowing output, jobs growth and new orders for UK manufacturing in October, but pricing pressures remain comparatively benign in the current market and the slowdown we have seen for the sector in the past six months seems to be easing.

What a week! And it’s only Wednesday…

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Trick or treat? There should be plenty of both this week and it should be a busy one for currency markets, with no fewer than three important central bank meetings and a raft of important economic data worldwide, including Gross Domestic Product (GDP), employment figures and consumer confidence indices. On the other side, Friday brings a new month and with it a raft of Purchasing Managers Indices (PMI), always watched for economic indicators and meaningful nuggets for the markets.

What to watch out for this week and what you may have missed so far

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This week is comparatively quiet as far as economic data is concerned, but there is still plenty of political fuel for currency volatility originating right across the globe. Highlights include Draghi’s last speech at the helm of the European Central Bank, ongoing Brexit and US-China trade talk sagas, all interspersed with some economic data releases across Europe and the Americas.

Brexit comes closer amidst political speculation and uncertainty

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With the Brexit deadline looming ever closer, the economic data released for the UK and EU takes on even greater meaning this week, and the currency markets are responding. Any whisper of a decision or deal surrounding the Brexit negotiation process is having a profound effect on the Pound. The same is true for US data due this week, against the backdrop of US-China talks taking a negative turn once more.