by Christopher Nye | Jul 8, 2020
The euro weakened yesterday after the European Commission released its latest forecasts. GDP is now expected to contract by 8.3% this year before growing 5.8% in 2021. This compares to an earlier forecast that predicted a 7.7% in 2020 and a growth rate of 7.4% next...
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by Christopher Nye | Jul 8, 2020
The pound is in a stronger position against the euro and the dollar this morning, ahead of the ‘supplementary budget’. All eyes will be on Chancellor Rishi Sunak, as he is due to talk about government spending plans. This follows Boris Johnson’s ‘new deal’...
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by Christopher Nye | Jul 8, 2020
The Chancellor of the Exchequer, Rishi Sunak, is due to announce plans for government spending later today. A short-term VAT cut and a £2 billion home insulation scheme are expected to be announced, amongst other plans. Yesterday, the European Commission revised down...
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by Christopher Nye | Jul 7, 2020
The dollar remained weak yesterday as good news about the US economic hampered safe-haven demand. However, it is looking stronger this morning. The ISM Non-Manufacturing PMI for the US jumped to 57.1 in June of 2020 from 45.4 in the previous month, beating market...
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by Christopher Nye | Jul 7, 2020
The euro has had a strong start to the week due to reports that the Eurozone economy is recovery. After positive factory data yesterday morning, Eurozone retail sales rose 17.8% month-on-month in May, above expectation of 15%. This morning, German industrial...
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