Today’s housing data, showing a rise in prices albeit with construction activity down, has had little impact on the pound. The currency is generally being buffeted by data from the other side of the pairings.
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Following its strong recovery in the latter part of last week, sterling failed to build on those gains yesterday and weakened against both the euro and US dollar. With little data of interest yesterday, it looks to have…
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The pound recovered strongly against the US dollar at the end of last week, and a little against the euro. The reason for GBP/USD to gain 2% in one day, to a six-year high, was the latest economic…
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On Friday, the ISM services PMI for the US fell to 51.8 in October, the lowest in five months and below a consensus of 53. Industries that saw slower increases include business activity & production, and employment.
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The euro area unemployment rate rose to 6.5% in September from 6.4% in August, slightly higher than expectations of 6.4%. The highest jobless rates in the euro area were observed in Spain (12%), Italy (7.4%) and France (7.3%).
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At the tail end of this week, the Office for National Statistics will release the gross domestic product figures for the UK for quarter three and year-on-year. Markets forecast a 0.6% loss for the annual rate and zero…
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After surging to a two-week high on Friday, the pound remains strong against the euro this morning and is currently 0.62% higher than this time last Monday.
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After Wednesday’s sharp falls, the dollar was stable yesterday.
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