GBP/EUR & GBP/USD – Retail Sales growth slows in May but UK economy still in period of rapid recovery

Wednesday saw the result of the CBI’s monthly retail sales index survey released. The survey of 136 firms showed a fall in May to +16 from +30 in April, well below economists’ forecasts of a +35 reading. It was not all bad news though with the majority of the firms surveyed predicating a rise next … Read more GBP/EUR & GBP/USD – Retail Sales growth slows in May but UK economy still in period of rapid recovery

Carney delivers seething view of Bankers; Sterling retraces its steps

“Just as any revolution eats its children, unchecked market fundamentalism can devour the social capital essential for the long-term dynamism of capitalism itself,” “A sense of self must be accompanied by a sense of the systemic.” These were the words delivered by the Bank of England Chairman last night at a conference on ‘inclusive capitalism’ … Read more Carney delivers seething view of Bankers; Sterling retraces its steps

Sterling continues rally against Euro, falls versus US Dollar

Friday was a relatively quiet end to a busy week with the Pound gaining 0.25% against the Euro before settling back at the levels we had seen at the start of the day, while falling slightly against the US Dollar where it closed the week at 1.6840. The reason for the initial pick up against … Read more Sterling continues rally against Euro, falls versus US Dollar

Sterling remains strong against its peers.

Yesterday was a very quiet day on the currency markets. Sterling managed to maintain its recent strength against its counterparts. Euro rates remained above the 1.23 level with a high of 1.2365 and a low of 1.2328. With rates still sitting at very close to an 18 month high we are still seeing a very … Read more Sterling remains strong against its peers.

Pound/Euro hits 18 month high after UK Retail Sales

Sterling continued its upward march yesterday against both the Euro and USD following the release of the UKs retail sales figures for April which were forecasted to show growth of 0.4% but came out well above the estimate showing an increase of 1.3%. GBP/USD hit a high of 1.6920 before dropping back below 1.69 and … Read more Pound/Euro hits 18 month high after UK Retail Sales

Look back before looking forward…

They say ‘if you don’t know where you’ve been, then you don’t know where you are going’, so we shall reflect on yesterday’s market before planning ahead. Yesterday’s session started slowly in spite of Mondays nights interview, where Jeremy Paxman asked direct questions to Silvio Berlusconi regarding some less than tasteful comments that he may … Read more Look back before looking forward…

GBP/CHF Pushes 1.50 After ECB Announcement

Franc Weakens with Euro After Draghi Speech The Swiss franc has weakened somewhat over the last few days as comments from the president of the European Central Bank, Mario Draghi, weakened the single currency, dragging the franc down with it. GBP/CHF has subsequently risen to just under 1.50, losing around a percent following the announcement. … Read more GBP/CHF Pushes 1.50 After ECB Announcement