by Christopher Nye | Dec 16, 2024
With the interest rate cut out of the way, the euro recovered from Thursday and ended up a little over the week against the pound and 1% up on the Swiss franc. It’s PMI day today, plus there will be speeches from ECB president Christine Lagarde and her vice president...
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by Christopher Nye | Dec 16, 2024
The pound lost more than 1% against the euro and US dollar between Thursday lunchtime and Friday evening last week, as the markets digested the news of GDP falling in October. A hectic week for data starts with PMI later this morning. GBP/USD past year 1 Min 5 Min 1...
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by Charles Purdy | Dec 16, 2024
Having broken through a long-held resistance level to an eight-year high last week, GBP/EUR promptly dropped by more than 1% at the end of the week and a similar amount against the US dollar. The gain midweek had been prompted by the European Central Bank (ECB)...
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by Christopher Nye | Dec 13, 2024
Producer Price Inflation (PPI) rose by 0.4% in the USA last month. That increase was driven by, of all things, a whopping 54.6% increase in the price of wholesale chicken eggs amid an outbreak of avian flu. In an odd way, the US dollar received a boost yesterday based...
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by Christopher Nye | Dec 13, 2024
With growth in the eurozone lethargic, the ECB has been one of the more aggressive central banks throughout 2024. In yesterday’s press conference, Lagarde noted that some policymakers had initially plumped for a larger 0.5% cut to interest rates. Although the vote was...
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