What is a quiet day for UK and EU data today’s focus will be on the US with markets paying particular attention to durable goods orders for September, and the conference Boards consumer confidence index for October. With the FOMC expected to announce an end to QE3 asset purchases tomorrow, and Thursdays release of the …
Monthly archives: November 2014
European central Bank stress tests eased concern
Following the weekend the euro rose versus most of its major peers after the results of European central Bank stress tests eased concern that balance sheets at some of the regions lenders were too weak. Most of the lenders that failed the European Central Bank’s balance-sheet test have been let off for good behaviour. Only …
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Sterling was little changed versus the euro
Yesterday’s UK retail sales showed a fall of 0.3% in September, with the quarter-on-quarter growth rate slowing to only 0.3% in Q3 compared with 1.6% in Q2. The pound has gradually fallen against both the dollar and euro ahead of today’s GDP figures as markets are expecting the pace of growth slowed in the third …
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England Minutes for October
Yesterday was a day that allowed the pound to gain against both the USD and EURO but unfortunately today the pound has dropped following the latest Bank of England Minutes for October. The pound fell and U.K. government bonds advanced as minutes of the Bank of England’s most recent meeting showed the majority of policy …
Australian and New Zealand dollars strengthened
The US dollar weakened for the first time in four days against sterling as traders pushed back estimates for when the Federal Reserve will increase U.S. Interest rates. The U.S. currency declined for a second day against the euro. The Australian and New Zealand dollars strengthened after China’s factory output and economic growth expanded more …
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risk of a triple-dip euro area recession
Today is a fairly quiet day in terms of economic data. This weeks highlights are likely to be the public finances for September (tomorrow), the minutes of the September MPC meeting (Wednesday), September retail sales (Thursday) and the first estimate of Q3 GDP (Friday). In the US attention is likely to be focused on Wednesdays …
euro area are throwing up fresh signs of weakness
The global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear it’s running out of engines. An interesting article from Bloomberg today posted the following: ‘Japan and the euro area are throwing up fresh signs of weakness by the day and emerging markets such as China are dragging …
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What happened to the Pound yesterday?
What happened to the Pound yesterday? We saw the pound fall versus the dollar and quite literally every other currency as yesterdays inflation report slowed to the least in five years last month, adding to pressure on the Bank of England to keep interest rates at record lows. Consumer-price growth slowed to 1.2 percent in …
Pound continues to weaken against a weak euro
So the Pound continues to weaken against a weak euro. Work that one out! Overnight the pound was well into the 1.27s before falling under 1.27 early this morning. The US economy looks better able to withstand the hit from a stronger dollar and weaker global growth than the stock market did last week. The …
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US Dollar exchange rates dropped
Good morning, The US Dollar exchange rates dropped to a three week low against multiple currencies as investors pushed back bets for when the Fed Reserve will increase interest rates. Yesterdays minutes highlighted growing concerns among policy makers who say further gains in the dollar could hurt exports and damp inflation, which has undershot the Fed’s …