Foreign Exchange Business News
UK inflation runs at 4% – rate hike speculation continues ahead of BoE report
(February 16, 2011)GBP
Sterling rose against a basket of currencies Tuesday amid inflation data showing a two-year high, which fuelled even more speculation that the Bank of England will be forced to raise interest rates soon in order to restrict future price risks.
The prospect that the bank would abandon its ultra-loose monetary policy heightened after the UK consumer [...]
Marginal EU Date Continues To Be Under Pressure
(November 9, 2010)The concentration of global investment community remained on Europe yesterday with yields on marginal EU countries’ debt again increasing. The extent of Irish and Portuguese over Germany both striked fresh record highs as further indecision entered the market. Matters were not assisted by a meager industrial production figure from Germany that showed a significant decline. While we recognize that this data series is characteristically, pretty volatile a figure of -0.8% against an anticipation of 0.4% is a poor figure.
Judgement Day For Helicopter Ben
(November 3, 2010)Finally, it is the judgment time for the Fed. Ever since the Fed Chair Ben Bernanke’s speech at the Jackson Hole conference about 8 weeks ago the market has been shooting in numerous amounts of extra spur. At 18.15 GMT tonight we will come to know precisely how much is required. The market anticipation is approximately $500bn: anything lesser than that would lead to the strengthening of the dollar with equity and gold markets dipping and vice versa.
US Manufacturing Is Unable To Do The Required For Preventing QE
(November 2, 2010)Sterling had a very fine day yesterday. It was improved over the 1.154 level behind of some positive Manufacturing data which came out at 54.9 which was more than the assumed 53.3. The hopeless news came from Home track discharging their review showing that house prices have dripped and will likely persist to descend.
A Major Week For The Economy Worldwide
(November 1, 2010)This week is likely to keep our economists occupied. By the conclusion of this week, we are expected to be acquainted with the destiny of the G4 currencies (USD, EUR, GBP and JPY) as we move towards the close of 2011.
GERMAN BOND PLANS CAUSES EURO AGITATION
(October 29, 2010)The dollar lost position yesterday for the succeeding conference in a line up as arguments over the amount of the forthcoming QE parcel destabilized US bond produce. The greenback was not helped also nevertheless.
DOLLAR RISES AS TRADERS MOVE TOWARDS EUROPE
(October 28, 2010)The Dollar went on yesterday with its race of good form lately, boosting GBPUSD and EURUSD all through the session. The refreshed strength of dollar is basically an output of the confusion in market regarding the quantitative easing by the FED on next Wednesday. Some analysts have suggested a direct thrust of $500bn, while some are advising $100bn in monthly installments for 6 or so months; both the ways there is a confusion.
STERLING RISES AGAINST THE EURO AND THE US DOLLAR
(October 27, 2010)The Sterling rose above the Euro and the Dollar after an unexpected positive UK GDP data for the third quarter and a welcome vote of confidence for the UK from crediting rating agency S & P. GDP emergence came in at 0.8% in the third quarter which was against what was expected of 0.4%, promoted by construction activity that was more powerful than what was expected. Sterling reached a peak of 1.1453/£1 – against the Monday depression of 1.1184/£1- after the positive data cooled theories of further Quantitative Easing in England from the Bank of England. Against US dollar, sterling hit $1.5894/£1. Emotions towards UK further received a lift when the credit rating agency S&P upgraded outlook for UK from negative to stable after stating that government has made sufficient efforts towards cutting the deficit.
GDP big for GBP
(October 26, 2010)Yet again, today turns out to be another significant day for the Pound. The first evaluation of 3rd quarter GDP is to take place at 9:30am today. The market estimation for this measure is to slide down from its present 1.2% to 0.4% as the summer’s positivity is displaced by the winter’s awareness.
G20 come up with an accord
(October 25, 2010)As against what was assumed, it seems as if the finance ministers of the G20 have finally come up with an agreement over volatility in the currency markets and the discarding of competitive devaluation. Even though, the evidence will be in whether the countries are seen accepting and following these measures.