by Julian Benson | Oct 16, 2023
On Wednesday morning, economists forecast the UK inflation rate will fall ever-so-slightly from 6.7% to 6.5%. While a decline is worth celebrating, the rate remains over three times the Bank of England’s target. GBP/USD: the past year 1 Min 5 Min 1 Hr 1 Day 1 Wk 1...
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by Charles Purdy | Oct 16, 2023
It could be a case of the calm before the storm today, with no economic news to move the markets until tomorrow. The pound weakened against the euro during the latter half of last week, following three weeks of gains. Even so, it is a couple of percentage points above...
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by Charles Purdy | Oct 13, 2023
The dollar resumed its three-month long upward trajectory yesterday, powered by persistent inflation. The Dollar Index (DXY) strengthened by 0.71% as inflation continued at 3.7% – not far off double the Federal Reserve’s target. Coming on top of last week’s...
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by Charles Purdy | Oct 13, 2023
It was a decidedly mixed day for the single currency, with close to a 1% drop against the US dollar but a 0.3% rise against sterling. This morning’s inflation data came in as predicted in the ‘flash’ report, at 4.9% in France and 3.5% in Spain. In the former that...
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by Charles Purdy | Oct 13, 2023
The US inflation news didn’t just affect GBP/USD. The pound dropped by around a third of a cent against the euro too. From the UK’s GDP data, the most successful parts of the economy were services, especially in the professions and education, while sports activities...
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