The World Bank revised its growth forecasts for 2023 to 2.1%, from 1.7% in January, due to better-than-expected performances from major currencies. This was revealed in the Washington-based body’s half-yearly update yesterday.
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It’s been a strong but steady week for the pound so far, holding onto the gains it made against the euro last Wednesday and about 3% above where it has spent most of 2023. A quick note, first,…
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The ISM Services PMI fell to 50.3 in May from 51.9 in April, marking slow growth in the services sector. Despite the slow growth, yesterday’s data pointed to the fifth consecutive month of growth in the services sector.
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Retail sales in the eurozone fell 1.2% month-over-month in March, following a 0.2% drop in February. Yesterday’s data came in much worse than forecasts of a 0.1% decline.
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The S&P Global/CIPS services purchasing manager’s index (PMI) was revised slightly higher to 55.2 in May. This was a gentle rise from the preliminary index of 55.1 markets were expecting yesterday.
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Sterling continues strong against the euro this morning, with weekly and monthly gains of nearly 5% and 3%, respectively. It is a similar story for the pound against the US dollar. GBP/USD enters today with weekly gains of…
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Better than expected payrolls data plus a rise in US unemployment pushed US stocks to fresh highs on Friday. The blue-chip Dow Jones closed over 2 per cent higher.
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After attempting to recover from its 2-month low against the US dollar, the single currency currently sits around -0.37 per cent lower than the greenback this week.
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