Weak PMI data in the UK today
- Posted by Shyam Gokani in Uncategorised
- August 3, 2016
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Sterling retreated from a three-week high against the dollar today ahead of the third and most important of a batch of purchasing manager surveys that offer the best clues so far of the blow to the economy from June’s Brexit vote. GBP Markit/CIPS UK Services PMI 47.4 47.4 47.4 GBP Markit/CIPS UK Composite PMI 47.5 […]
READ MOREUK expected to cut rates next Thursday
- Posted by Shyam Gokani in Uncategorised
- July 29, 2016
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Sterling inched up against the dollar this morning, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more […]
READ MORESterling falls against the Euro
- Posted by Shyam Gokani in Uncategorised
- July 28, 2016
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Sterling fell more than half a percent against a broadly stronger euro today, 3,000 job cuts at British bank Lloyds underlining concerns that the UK economic outlook will only worsen in the months ahead following June’s Brexit vote. Minds are already turning to next week’s Bank of England meeting, which is widely expected to cut […]
READ MOREPoor UK PMI data release this morning
- Posted by Shyam Gokani in Uncategorised
- July 22, 2016
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Sterling dived and gilts rose this morning after surveys showed business activity shrinking at a fast pace after the shock Brexit vote last month, bolstering expectations the Bank of England will have to do more next month to stimulate growth. The PMI survey of services sector purchasing managers fell to 47.4 in July from 52.3 […]
READ MOREInflation rises in the UK
- Posted by Shyam Gokani in Uncategorised
- July 19, 2016
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The pound erased yesterday’s rally and was fading back below the $1.32 level, with traders focusing on today’s economic releases. As traders took profits from Monday’s upswing, the pair declined and sterling was trading 0.3% weaker against the greenback, seen around $1.3210, retreating somewhat form the daily lows of $1.3175 seen earlier during the session. […]
READ MORESterling’s biggest week since 2009
- Posted by Shyam Gokani in Uncategorised
- July 15, 2016
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Expectations of a period of relative domestic political and economic calm kept sterling on course for its best week since 2009 today, although broader risks from last month’s Brexit vote prevented a break past two-week highs above $1.34. Many analysts have recommended selling any rallies in the pound in anticipation of cuts in Bank of […]
READ MOREBank of England announcement at 12pm
- Posted by Shyam Gokani in Uncategorised
- July 14, 2016
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Sterling strengthened amid a more upbeat mood across global markets today, as investors focused on a Bank of England policy meeting that looks set to yield the first cut in British interest rates in seven years. Governor Mark Carney clearly flagged two weeks ago that stimulus was on its way, signalling the economy was in […]
READ MOREUK rate cuts ahead!
- Posted by Shyam Gokani in Uncategorised
- July 1, 2016
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Sterling fell today, dragged down by expectations that the Bank of England is likely to ease monetary policy in coming months to cushion the economy from the impact of Britain’s shock vote to leave the European Union. British government bond yields tumbled to record lows, as investors priced in rate cut chances and perhaps more […]
READ MORESterling gains slightly due to no Article 50
- Posted by Shyam Gokani in Uncategorised
- June 29, 2016
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Sterling rose for a second day this morning, helped by rising stock markets, although lingering concerns over UK growth and investment after Britain’s vote last week to leave the European Union were likely to limit gains. Investors were taking some reassurance from the fact that British politicians were not rushing to trigger the Article 50 […]
READ MORESterling soars due to weekend polls
- Posted by Shyam Gokani in Uncategorised
- June 20, 2016
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Sterling soared 2 percent against the dollar this morning, putting it on track for its biggest one-day gain for more than seven years, as worries eased that Britain might vote to leave the European Union at a June 23 referendum. Campaigning for the vote resumed on Sunday after a three-day hiatus following the killing of […]
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