The light schedule of UK data has helped sterling hold on near its highest in a month against its main rivals. Expect more volatility (and less security) in its position as the news ramps up next week.
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GBP/USD shot up by half a cent on Wednesday, as underwhelming US jobs data boosted the case for a swift reaction from the Federal Reserve this month.
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Sterling has managed to hold onto most of its strength this week. This is despite the storm clouds gathering, as US data yesterday suggested that the world’s biggest economy is entering a recession. Share prices fell sharply again,…
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News of a contracting manufacturing sector had a small impact on the US dollar. A less than happy mood in markets meant there was plenty of safe-haven investment to offset any depreciation.
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According to ING, the results of the recent German state elections are not having any real impact on the euro. While that may be true, growing problems in Germany may weaken the euro in the longer term.
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Bank of America yesterday raised its growth forecasts for the UK economy to 1.1% in 2024 and 2025. Analysts now predict the economy will easily exceed the initial projection of 0.8% growth, with a decent chance it could…
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Currency markets were dominated a by risk-off tone on Tuesday. Geopolitical uncertainty and continuing weakness in American manufacturing meant that the US dollar benefitted from safe-haven trades and European currencies struggled.
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Labor day typically marks the end of summer and US markets may be looking at September as a chance for a fresh start. The US dollar has slipped lately, but a booming economy could cause a shift in…
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