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The European Commission announced earlier today that it expects the eurozone economy to shrink by 0.3% this year, heaping the pressure on the troubled EURO. However, the Spanish government’s announcement that it will be making additional funds available to bolster the liquidity of the debt-burdened state’s retail banks has helped stem the...

The POUND STERLING outperformed almost all of the other 16 most-actively traded global currencies on the day, in spite of the fact that there were no tier one data releases during the session. Sterling continued to benefit from UK inflation data, the BoE minutes and British unemployment figures which were released earlier this week and...

The EURO dominated the headlines again today, as Spain revealed €27bn of new cuts from its budget, in an attempt to rein in levels of spending in its debt-hungry economy. The eurozone’s Finance Ministers bolstered the region’s firewall to €1bn at today’s meeting in Copenhagen, but there was bad news for the single currency when...

In the absence of any significant UK data releases, the POUND STERLING has experienced a straight down the middle trading day today. Tomorrow’s UK Trade Balance data has the potential to change things, but Sterling may trade to a NEUTRAL bias until Thursday’s British employment market data before, it re-establishes any clear...

Today saw a very light schedule of UK data releases, with the latest Rightmove House Price Survey, released in the early hours of this morning, providing a highlight, showing a month-on-month increase of 4.1%. The POUND STERLING has spent the majority of today’s session trading with a NEUTRAL bias and this outlook is likely to continue...

POUND STERLING This morning’s UK PMI Manufacturing sector survey came out weaker than anticipated. However, to put a more positive spin on the data, it did show that Britain’s manufacturing base has started to expand once again. Antagonistic comments from MPC member Adam Posen, accusing British retail banks of choking the supply of...

POUND STERLING The Pound was buoyed by a report from the British Chambers of Commerce, released last night, which suggested that UK business leaders feel that the UK’s economy may avoid slipping into recession in 2012. This saw Sterling gain on the day against most of the majors, with the notable exception of the high-yielders....

POUND STERLING This morning’s UK PMI Manufacturing sector survey for November narrowly beat analysts’ expectations, but still showed a slowdown in Britain’s manufacturing sector in comparison with October’s figure. If Monday’s PMI Services sector survey goes the same way, then there is potential for the Pound to start the week...

POUND STERLING This morning’s UK CPI inflation figure showed an annualised dip in the government’s headline rate of inflation last month. This gives the Bank of England further scope to loosen British monetary policy – not good news for investors holding Sterling-denominated assets. The Pound has so far avoided any pronounced...

POUND STERLING This morning’s UK Producer Price Index data for September came out higher than had been anticipated, indicating that British factory gate prices are still rising at an accelerating rate. The figure traditionally acts as a leading indicator of future price rises for consumers; if this holds true, then the Bank of England...