Written by FX Manager Alastair Archbold T: 01442 892 066 E: [email protected] Today has been dubbed ‘Super Thursday’ by many analysts, but before we look at what the coming session may hold in store for the Pound, let’s recap on what happened yesterday…. Sterling/Euro rates rose as high as €1.4375, which is pretty … Read more What does ‘Super Thursday’ hold in store for Sterling?
Yesterday saw an unexpected interest rate cut announced by Mario Draghi, Head of the ECB along with an increase in the ECB’s negative deposit rate. The announcement that the ECB have lowered both their Benchmark rate (interest rate) to 0.05% and their Deposit rate to minus 0.2% respectively caused an immediate spike in GBP/EUR and … Read more Sterling and Dollar Benefit from Eurozone Interest Rate Cuts
GBP/AUD Trading in the 1.82’s It’s been a fairly uneventful week for the GBP/AUD cross, trading within a one cent range for the last 7 days. This time last week, GBP/AUD was trading at 1.8240 and at the time of writing is sitting at 1.8215. Although it’s been a fairly uneventful week for the cross, … Read more GBP/AUD Trades Within One Cent Range
GBP/AUD Remains Within One Cent Range The pound is struggling to make any headway against the Australian dollar as the two currencies remain two of the best performing major currencies of the last quarter. Over the course of the last week, GBP/AUD has not dropped below 1.8050, nor has it traded higher than 1.8150. The … Read more GBP/AUD Trading Within Tight Range
GBP/EUR & GBP/USD Forecast: Best Exchange Rates Yesterday sterling continued to move forward again against its major counterparts after more positive data out of the UK economy. Services PMI data came in better than analysts’ forecast, printing at 58.6 against estimates of 58.3. This saw GBP/EUR resistance at 1.23. This time, however, the pound was … Read more Pound takes pole position in yesterday’s currency race
Market Report – June 4th – GBP/USD & GBP/EUR What is moving the foreign exchange rates today? As you can see from the graphs below, we saw very limited movements across the board on Monday with most major crosses trading within 50 pip range. This is due to there being no real surprises in the … Read more Daily Report – 04/06/14 – GBP/USD & GBP/EUR
Daily Market Report – June 3rd It was a fairly quiet day for the currency markets yesterday, with no significant movement in any of the major crosses. After a small adjustment as markets opened for the week, GBP/EUR traded within a 20 pip range. It was a similar story for GBP/USD, with 30 pips between … Read more Poor UK Data Sees Sterling Trade in a Tight Range
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
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.
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…