by Julian Benson | Sep 7, 2023
The ISM services PMI surprised economists in August, jumping to 54.5 from 52.7 in July and compared to forecasts of 52.5. This reflects the largest sector growth in six months and was largely fuelled by increases in new orders and inventories. For more on currencies...
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by Julian Benson | Sep 7, 2023
Later this morning, economists will receive the latest GDP growth rate estimates, which are forecast to rise 0.6% year-on-year from 1.1% in the previous period. This marked the smallest growth percentage since the 2020/21 recession. In Germany, industrial figures...
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by Julian Benson | Sep 7, 2023
Governor Andrew Bailey remarked yesterday that indicators signal a continued fall in inflation, with the CPI down to 6.8% in July from 7.9% in June. While this continued downward trend means the BoE can step away from considering further interest rate hikes, the...
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by Julian Benson | Sep 7, 2023
The pound lost much of Tuesday’s gains against the euro yesterday as it fell nearly 0.5% on the back of Bank of England (BoE) governor Andrew Bailey’s comments that we are nearing the end of the rate hiking cycle. The euro’s gains are in spite of the fact that...
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by Charles Purdy | Sep 6, 2023
Sterling has bounced up close to its highest against the euro for a year, as hopes rise among institutional investors – if no-one else – that the Bank of England will continue to raise interest rates. While the Bank of England’s chief economist was last week talking...
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