The dollar has enjoyed a strong week against most major rivals over the past week, although it remains slightly down on GBP overall. This was despite quarterly GDP dropping to 2.7%, marginally below expectations.
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It’s been a disappointing week for the single currency, losing out to the majority of other currencies, most notably the Brazilian real (-2.25%) and sterling (almost -1%).
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Sterling lost fractionally to the euro yesterday but has largely held onto its gains from positive PMI and government debt data on Tuesday. It is currently well up on most of its nearest 10 rivals compared to last…
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Sterling’s position drifted yesterday against some currencies as the excitement of Tuesday’s excellent services PMI reading dissipated. However, GBP/EUR has stayed strong and there was more positivity for British business with the CBI Distributive Trades Survey surging 25…
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The preliminary quarter-on quarter GDP figures for the US will be released at 1:30pm UK time today. Investors will be watching closely as the data will provide the broadest measure of economic activity in the US.
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Markets saw the latest business climate reading from Germany’s Ifo institute yesterday. The monthly release from the institute gives investors clues into the level of a composite index based on sector specific surveys.
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Sterling maintains this week's euro gains following better-than-expected PMI data on Monday and investors will be keen to see if this morning’s speech from MPC member Catherine Mann will move the pound.
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Today is an interesting day for market-watchers as G20 members will meet to discuss several challenges to global economic growth. This will also include members from G7 nations.
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