by Charles Purdy | Jun 7, 2024
The pound weakened yesterday as a quiet period for data from the UK continued, but the European Central Bank cut its interest rate for the first time since 2019. Sterling starts the day fractionally down on all major rivals, while the euro has taken the rate drop in...
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by Julian Benson | Jun 6, 2024
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. The US dollar fell into negative territory yesterday against the euro and despite...
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by Julian Benson | Jun 6, 2024
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 activity, faster new orders growth and slower...
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by Julian Benson | Jun 6, 2024
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 edged up 0.2%. GBP/EUR: the past year 1 Min...
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by Julian Benson | Jun 6, 2024
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. GBP/USD: the past year 1 Min 5...
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