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GBP: The British Pound saw a volatile week of trade and opens this morning’s session relatively flat as chaos amongst US and European banks led to readjustments of bets on further monetary tightening from all central banks. In fact, UK stock futures point to a weaker opening than other European markets as investors and traders see […]
GBP: Sterling was a middling performer among major currencies last week as recent economic data suggests that the Bank of England may become slightly less aggressive when deciding on the future path of UK interest rates. Growth in the UK has flatlined, the jobs market remains strong, retail sales remain poor but marginally better-than-forecast, while core […]
It’s set to be a much quieter week on the economic calendar, but there’s still plenty for markets to mull over after last week’s slew of Central Bank hikes and Friday’s unexpectedly strong U.S. nonfarm payrolls report. In fact, data in the Eurozone and the U.K. will be closely watched. GBP: The British Pound stumbled out […]
It’s set to be an action-packed week as three of the world’s largest central banks hold policy meetings. While the Federal Reserve is expected to slow the pace of interest rate hikes, the European Central Bank and the Bank of England are both expected to hike rates by 50-basis points. GBP: The BOE, the first of […]
GBP: The British pound gained 1.11% against the US dollar last week, causing cable to close at its highest level since mid-December. This comes despite some disappointing local economic data: UK Industrial production and manufacturing production both surprised lower for the month of November. Looking forward, investors focus will shift to UK employment data on Tuesday […]
GBP: The risk of a two-year recession in Britain, flagged last week by the Bank of England, underscores the high stakes for Prime Minister Rishi Sunak and his finance minister Jeremy Hunt as they prepare to announce major tax increases and spending cuts. The BoE said on Thursday that Britain’s economy would shrink for eight three-month […]
The Federal Reserve and the Bank of England are all but certain to deliver jumbo 75-basis point rate hikes on Wednesday and Thursday, respectively, as the battle against sky-high inflation continues. However, with investors now on the lookout for signs that aggressive monetary tightening could start to slow, today’s Eurozone inflation report and Friday’s U.S. jobs […]
GBP: This week, Britain’s Conservative Party, which holds a big majority in parliament, is set to select a new leader who will become prime minister – Britain’s fifth in six years. Former chancellor Rishi Sunak and Penny Mordaunt are both potential successors to take over from Liz Truss, who quit last Thursday after just six weeks. Truss was […]
GBP: Last week’s reports that the British government is preparing to do a major U-turn on planned tax cuts have helped ease fears over public finances. In fact, Kwarteng was dismissed by Truss on Friday as she tried to salvage a premiership that is less than two months old by reinstating a planned increase in corporate […]
As global investors have repeatedly had their hopes dashed by the Federal Reserve for a pivot away from an aggressive rate hike campaign, many market participants will be keenly awaiting the latest U.S. inflation numbers this Thursday for further guidance on upcoming rate hikes. Wednesday’s minutes of the latest Fed meeting should offer some insights […]
