The past forty-eight hours has been nothing but positive for the GBP/USD cross, with the currency pair currently trading around three cents higher than on Tuesday morning. After falling to $1.2707 the pound has been steadily rising and is now back within touching of the $1.30 barrier. GBP/USD graph Why has the pound risen? Although … Read more GBP/USD pushing back towards $1.30
Written by: Alastair Archbold FX Manager T: 01442 892 066 UK inflation figures have just been released, showing that the annual CPI reading was 2.3%, a little higher than expected and above the 2% target at which the Bank of England would normally raise interest rates. Following on from last week’s BoE minutes, the markets … Read more BREAKING NEWS: Inflation jumps to 2.3%
Written by: Richard Beaumont T: 01442 892 060 BoE has responsibility to communicate Brexit risks Despite there being little data from Canada today, it is one of the most important days of the weeks for the GBP/CAD crosses. Yesterday despite the Crude Oil inventories coming in much worse than forecast, the GBP/CAD exchange rates still … Read more BoE has responsibility to communicate Brexit risks
James Baxter Senior Currency Broker T: 01442 892 062 E: [email][email protected][/email] GBP/AUD Falls to 2.02 The pound dropped fairly significantly against most of its main counterparts on Thursday after a more dovish than expected quarterly inflation report from the Bank of England. Against the euro, the pound dropped back into the 1.20’s and had dropped … Read more GBP/AUD Falls After Bank of England Inflation Report
James Baxter Senior Currency Broker T: 01442 892 062 E: [email][email protected][/email] GBP/AUD Rises to 2.08 The Australian dollar has continued to fall against most of its major counterparts as the economic situation in China appears to be deteriorating. The Chinese had to suspend trading on their stock market on Thursday for the second time in … Read more GBP/AUD Rises Further as China Wobbles
Fed finally moves In a historic move the FOMC and Fed Chair Janet Yellen raised the base interest rate from 0.25% to 0.50%, a move which has been widely expected from investors and market commentators. Rates in the US have been at near zero since the 2008 financial crisis and raising the rate will help … Read more Fed finally moves
Best time to sell CAD It has been an extremely volatile week in the forex markets and now may be the best time to sell CAD. Sterling to Canadian Dollar exchange rates have fluctuated between 2.0350 at the high to lows of around 1.9870. To put this into monetary form, a typical transfer of £200,000 would see you … Read more Best time to sell CAD
Written by Kingsley Walker Currency Broker T: 01442 892071 E: [email][email protected][/email] UK Manufacturing surges to 16-month high The first working day of the months brings with it a raft of manufacturing PMI data from the UK, US and Europe. The result was a fairly volatile day for sterling and a number of its counterparts, including … Read more UK Manufacturing surges to 16-month high
What is affecting exchange rates this week The week kicks off fairly quietly for the GBP/CAD cross, with no data of note being released on Monday. Tonight however, there will be a speech by the Bank of Canada’s Governor, Mark Carney. He will be speaking at the National Association of Business Economics, in Washington. The speech titled … Read more Data affecting exchange rates this week
Written by: Kingsley Walker Currency Broker T:01442 892071 E:[email protected] W: foremostcg.wpengine.com The US returns to work after Labour Day and the Chinese market continues to frighten the global economy, Chinese imports in August fell 14.3% from a year ago and exports fell by 6.1%. In monetary terms this left the economy with a trade surplus … Read more The US returns to work after Labour Day and the Chinese market continues to frighten the global economy