May is an interesting month for currencies. April tends to be positive for sterling – coinciding with the end of the financial year – but then can begin a steady slide towards the summer. That’s been mixed up…
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The American economy continues to struggle under the impact of coronavirus, with a further 3.8 million people losing their jobs over the past week, bringing unemployment to over 30 million. Personal income has also declined further than expected.
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The euro weakened against the pound yesterday following the ECB’s monthly meeting. Although it kept asset purchase packages unchanged, it launched a programme of ‘pandemic lending’ and eased conditions on long term loans for banks. The latter means…
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The pound is benefitting from the euro’s weakness this morning, although manufacturing figures later this morning could put pressure on this uptick. Optimism also grew yesterday following Boris Johnson’s statement that the UK is past the peak of…
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Boris Johnson returned to the podium for yesterday’s coronavirus briefing, telling the press that the UK is seemingly through the peak, but that, to avoid a second spike, it is necessary to ‘unlock the economy gradually’. He promised…
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The US economy is shrinking at the same pace as in 2008, the latest figures show, hitting an annual rate of -4.8% and ending the record six years of expansion. It comes as consumer spending dropped 7.6% in…
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Today is an important day for the eurozone, with early pressure on the euro coming from this morning’s poor GDP readings from Spain. Later on today, Eurozone GDP is also expected to enter the negative. The European Central…
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The pound is weaker against the euro, after losing ground yesterday following poor retail sales data on Monday. Yesterday saw little in the way of economic releases, with more movement perhaps coming from fears over the economic impact…
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