by Christopher Nye | Aug 2, 2024
It looks like a positive end to the week overall. Following the Fed holding rates, as expected, the markets will be interested to see Non-Farm Payrolls this afternoon. A significant drop to 175,000 new jobs is expected, but NFP often has a surprise in store. USD/GBP...
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by Christopher Nye | Aug 2, 2024
A mixed day for the euro – despite some disappointing industrial data in the shape of manufacturing PMI and unemployment yesterday – ends a poor week, with the single currency losing 0.5% against USD overall, well over double that against the Scandinavian currencies...
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by Christopher Nye | Aug 2, 2024
While sterling may have experienced a reversal yesterday after the first rate cut for four years it was at the lower end of what might have been expected. Next week will kick off with a final PMI report for services and there is more UK house price data coming down...
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by Charles Purdy | Aug 2, 2024
The pound lost between 0.5% and 1.5% against most major currencies yesterday after the Bank of England (BoE) voted, narrowly, to cut interest rates from 5.25% to 5%. However, with the cut carried by just five votes to four, and with the BoE’s own chief economist...
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by Julian Benson | Aug 1, 2024
Yesterday, the Federal Reserve chose to keep the federal funds rate at a 23-year high of 5.25-5.5% for the eighth consecutive meeting. This morning, the US dollar has gained 0.3% against the pound and made marginal gains against the euro. Despite slipping around a...
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