The pound-to-euro rate recorded its highest daily close since August 2022 yesterday, however, risk remains as the European Central Bank interest rate decision is just hours away.
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The ISM services PMI in the US soared to 53.8 in May, reaching levels not seen for nine months and beating forecasts of 50.8. Despite a rebound in the services sector activity, growth prevailed due to higher business…
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Industrial producer prices in the euro area decreased 1% month-over-month in April 2024, following a 0.5% drop a month prior. This decline was led by a 3.6% drop in energy prices versus -2.3% in March. Excluding energy, PPI…
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Sterling investors will be keenly focused on the ECB’s interest rate decision this afternoon. ECB president, Christine Lagarde will speak later in the day at 3:15pm and could share further insight on the bank’s rate-cut path beyond June.
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Sterling is continuing to enjoy its early summer in the sun, remaining well above the average for the year against both the euro and US dollar. While economic performance and what it means for interest rates is dominating…
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The US dollar has been weighed down by recent data, a trend that continued yesterday with JOLTs job openings. The dollar’s fall has hardly been precipitous, but markets have found it increasingly difficult to justify their existing positions.
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Decision time is approaching for the ECB, but that will come after the last set of key data from the bloc. Final HCOB reads for key jurisdictions arrive this morning, which could provide a late change of thinking…
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Sterling might not need any warnings of the devastating impact elections can have. After all, several of the UK’s most recent elections have prompted huge volatility for its currency. However, the fate of the Indian Rupee should provide…
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