by Charles Purdy | Mar 8, 2023
Sterling fell sharply yesterday, by close to 2% against the US dollar and back to its lowest position since mid-November last year. Is there worse to come for sterling? Maybe, maybe not, but prudence would suggest to guard against it. Against the euro the drop was...
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by Christopher Nye | Mar 7, 2023
The US dollar made daily, weekly and monthly gains against sterling by the end of the business day on Monday as markets digested economic data. Today the greenback is still strong against sterling and a few other rivals, such as the canadian dollar and australian...
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by Christopher Nye | Mar 7, 2023
The Euro area’s latest retail trade data showed that trade increased by 0.3% (following a downwardly revised 1.7% drop in December). However, yesterday’s climb confirmed that retail sales for January still missed market expectations of 1.0% growth. (1.3% predicted)...
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by Christopher Nye | Mar 7, 2023
Monday’s PMI reading pointed to the fastest pace of growth in the construction sector in almost a year, since last May. The results also showed that construction increased the most in nine months while civil engineering works also returned to growth. The positive PMI...
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by Christopher Nye | Mar 7, 2023
On Monday, the S&P released its figures for construction PMI in the UK, which exceeded market expectations. The index for UK Construction PMI rose to 54.6, from 48.4 in January, and above forecasts of 49.1. Yesterday’s better than-expected data would have been...
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