After seesawing throughout the day yesterday, the pound ended Wednesday just slightly shy of the rate seen as European markets opened. Tomorrow, investors will be keeping an eye out for any influence that may nudge the pound either…
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At 3pm (UK time) economists will receive the US JOLTs Job Openings figures for May. This comes following an unexpected increase in job vacancies in April, when the rate soared to 10.1 million.
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In June, Spain’s unemployment rate fell to a 15-year low of 2.69 million. This was largely fuelled by the services industry, which gained 43,133 workers last month.
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The average rate for a five-year fixed mortgage now has an interest rate of more than 6% in the UK. This is the highest level since last November.
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The pound gained some strength against both the euro and the US dollar yesterday, despite US financial markets being closed for Independence Day celebrations.
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Sterling has battled its way back up from last week’s falls against the euro and now stands not far from the 10-month high it reached in June. It’s a similar story against the US dollar, where yesterday GBP/USD…
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Yesterday’s ISM Manufacturing PMI was disappointing, at 46, against an expectation of 47, representing the fastest fall in the sector since May 2020. However it was a quiet day on the markets overall, with little currency movement.
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A positive day for the euro saw wide-ranging if modest gains against all major rivals.
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