Currency Note


Economy in recession – but the pound stays strong

The pound is still strong against both the euro and the dollar this morning after GDP data was released. As expected, the data shows that the UK economy has fallen into recession, shrinking 20.4% in the second quarter of this year and 21.7% year-on-year. However,...

USD: Dollar awaits inflation data

Despite benefitting from its safe-haven status earlier in the day, the dollar was weaker against the euro and pound yesterday. This was mostly due to data releases from the UK and EU, which suggest that other countries are dealing with the coronavirus crisis more...

EUR: Economic sentiment figures support euro

The ZEW Indicator of Economic Sentiment for Germany jumped by another 12.2 points from the previous month to 71.5 in August, the highest since January 2004 and well above market expectations of 58. For the Euro Area, economic sentiment increased by 4.4 points from the...

GBP: GDP data shows June bounce-back

There has been a series of data releases for the UK this morning, including UK GDP data. The data showed that the economy shrank by 20.4% in the second quarter of this year and 21.7% year-on-year, which was slightly less than the 22.4% predicted. The economy has,...

Pound still strong after GDP data

The pound is still strong against the euro and the dollar this morning after GDP data was released. The data came in roughly as expected, showing that the economy has fallen into recession for the first time in 11 years. It did, however, also show that the economy...

USD: US-China tensions increase before meeting this week

The dollar remained weaker against the pound but rose to a one-week high against the euro yesterday, due to an escalation of tensions between the US and China. Senior US and Chinese officials will meet via teleconference on Saturday to review the implementation of...

EUR: Economic sentiment figures due today

The Economic Senitment Index for the Eurozone and Germany will be released today. It measures the level of optimism that analysts have about the expected economic developments over the next 6 months. The German figure is expected to show a slight fall from July’s...

GBP: Unemployment figure better than expected

The pound is broadly strong against the euro and the dollar this morning, after the UK’s unemployment figure for June was released. The country’s unemployment rate reached 3.9%, lower than the expected 4.2%. Despite this, average earnings figures...

Jobs data supports pound

The pound is strong against the euro and the dollar this morning after the unemployment rate for June came in better than expected. Despite the positive figure, analysts say that the rate could rise after the furlough scheme ends in October. Economic sentiments...

How has the UK economy fared so far?

The pound is looking strong against the euro and the dollar this morning, still benefiting from a more positive outlook after the Bank of England’s monetary policy meeting last week. Whilst officials expressed concerns over unemployment and acknowledged that the...

You have Successfully Subscribed!