The Ifo business climate indicator for Germany fell for the third consecutive month to 87.3 in July, representing an 8-month low. This suggests inflationary pressures are weighing down on the economy.
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The Confederation of British Industry’s quarterly gauge of manufacturing optimism in the UK improved to +6 in Q3 of 2023 from -2 in the previous period.
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The pound gained 0.6 against the euro and US dollar yesterday despite a lack of confidence in UK economic growth from the International Monetary Fund (IMF).
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The dollar benefited from UK and European business woes yesterday, gaining 0.30% and 0.60% respectively. Its own PMI was mixed, with manufacturing leaping to 49 against an expectation of 46 but services slipping to 52.4. Today we will…
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A torrid day for the single currency saw it lose well over half a percent against most major currencies.
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Sterling ended the day around 30% stronger against the euro, but it was not a good day for either as their economies were both shown to be suffering from the recent interest rate rises according to PMI data.
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The week started with a burst of activity in the markets yesterday morning as PMI data arrived from different parts of the world, sending sterling in different directions. First, German and French PMI was deeply disappointing, especially in…
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Sterling has launched into the week on the upswing, rising by close to 0.5% in minutes. It’s probably down to German economic data just out. You can lock that in with a forward contract, with a call to…
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