by Christopher Nye | Jan 26, 2023
Markets are currently expecting the European Central Bank to hike interest rates by 50bps next week and again (by the same amount) at the March policy meeting. Although this is in line with the ECB’s forecast, investors suspect things may deviate from the bank’s...
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by Christopher Nye | Jan 26, 2023
On Wednesday, PPI input data released by the Office of National Statistics revealed that the headline rate of input prices in Britain fell by 1.1% in December 2022, following a 0.2% drop in November. Today, sterling-watchers will be on the lookout for key releases...
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by Christopher Nye | Jan 26, 2023
After a strong start to the week for the pound, things took a turn in the opposite direction on Tuesday. Worse than expected PMI data, in addition to ongoing inflationary pressures, saw sterling relinquish weekly gains against both the euro and the dollar. This...
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by Charles Purdy | Jan 25, 2023
January may be dragging on in a particularly cold and dreary way this year, in our part of West London anyway, but we are at least seeing green shoots. On the verges and gardens if not the economy. Yesterday the S&P Global Purchasing Manager’s Index (PMI) – a...
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by Julian Benson | Jan 25, 2023
Yesterday the pound lost its gains of late last week against the euro as PMI figures signal the start of a recession for the UK economy. The UK services PMI came in at 48 for January, much lower than economist expectations of 49.7. This reading indicates the fastest...
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