by Christopher Nye | Nov 22, 2024
Further rises for the US dollar, taking USD/GBP close to its best for six months and USD/EUR teetering on a two-year high. The usual PMI reports will be out this afternoon and on Monday the analysts will be poring over the minutes of the FOMC’s last meeting. USD/GBP...
by Christopher Nye | Nov 22, 2024
The euro fell across the board yesterday, largely due to dovish tones from at least one European Central Bank policymaker. It has perked up against sterling this morning, however. The final reading for Germany’s Q3 gross domestic product (GDP) has just been downgraded...
by Christopher Nye | Nov 22, 2024
Despite weakening this morning, sterling has reached the end of the week pretty much where it was last Friday against the euro, but 0.75% down against the dollar. Later this morning we’ll hear PMI (Purchasing Managers’ Index) reports for the important UK services...
by Charles Purdy | Nov 22, 2024
After a solid day of gains yesterday the pound has fallen in early trading this morning, as a busy day for high-level data gets underway. Worth pointing out, however, that the pound is still strong relative to recent times, and around 4.5% stronger against the euro...
by Jonathan Cook | Nov 21, 2024
A handful of Federal Reserve members are delivering remarks today ahead of next week’s schedule of data. The lack of hefty US economic news this week has allowed attention to wander into geopolitics and it could take the impact of FOMC minutes or GDP – both due next...
by Jonathan Cook | Nov 21, 2024
The euro is coming under sustained pressure from major currencies but particularly the US dollar. Due to the eurozone’s grim economic and political outlook, it has been simply unable to push back on those advances this week. EUR/USD has fallen by close to 3% this...
by Jonathan Cook | Nov 21, 2024
The fact that inflation rose in October was a cause for concern for the UK but one that could benefit sterling. It wasn’t until the very last days of October that Rachel Reeves delivered the autumn budget – widely viewed as potentially inflationary due to the increase...
by Jonathan Cook | Nov 21, 2024
Sterling gained steadily over the euro on Wednesday after the Office for National Statistics (ONS) announced inflation had climbed to 2.3% in October – its highest level since April. Both the pound and the euro could not stall the US dollar’s advance, which continued...
by Charles Purdy | Nov 20, 2024
The pound recovered from the doldrums it’s been in for the past five days this morning as a sharp uptick in inflation kiboshed lingering hopes of an interest rate cut in December. Inflation in the UK returned to a six-month high of 2.3% in October. The increased...
by Jonathan Cook | Nov 20, 2024
The world’s great safe-haven currency did not benefit as it usually would from Tuesday’s bleak geopolitical developments. The US dollar has still had an immensely strong November but a reversal of that usual dynamic was an odd footnote to that story. EUR/USD: the past...
