Pound Australian Dollar forecast page 26 - GBP AUD

POUND STERLING Figures from the UK’s Office of National Statistics released this morning showed that British unemployment reached a 17-year high of 2.57m last month. The data also showed that almost 1m 16-24 year olds in the UK are without a job. These depressing numbers have held back Sterling on the day. NEAR -TERM OUTLOOK – NEUTRAL...

POUND STERLING This morning’s UK Manufacturing Production data showed a monthly contraction of 0.3% in British manufacturing output between July and August, providing more bad news for the UK economy. If tomorrow’s UK Jobless Claims Change figure provides further evidence that the slowdown in the UK economy is picking up pace, then it...

POUND STERLING Sterling has performed poorly against all of the major currencies, with the exception of the low-yielding reserve currencies, so far today. With no UK data of note released on the day, the move has come as a delayed response to last Thursday’s surprise decision by the Bank of England to extend its Quantitative Easing...

The Pound Euro exchange rate (GBP EUR) is 1.1550. The Pound Dollar exchange rate (GBP USD) is 1.5614. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5811. Last week ended on a positive note with the release of significantly better-than-anticipated US labour market data. September’s Non-Farm Payrolls data in the US showed that...

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...

The Pound Euro exchange rate (GBP EUR) is 1.1552. The Pound Dollar exchange rate (GBP USD) is 1.5538. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5844. Yesterday was a tale of two central bank policy decisions in the currency markets, with both the Bank of England and the European Central bank making their monthly...

POUND STERLING The Pound gave up significant ground against the other majors following the announcement by the Bank of England that it is set to extend its quantitative easing scheme by £75bn. With only one MPC member, Adam Posen, having voted for an increase to QE in recent months, up to and including last month, it was a surprise that...

POUND STERLING Today brought yet more bad news for the Pound as the UK’s Office of National Statistics released the finalised GDP growth figure for quarter two. The figure was downgraded from initial estimates, revealing that British economic activity expanded by only 0.1% in the three months to the end of June. Things could get worse...

POUND STERLING There was more bad news for the UK economy earlier today with the release of September’s PMI manufacturing survey, which showed that growth in the UK’s manufacturing sector came close to grinding to a halt last month. The Halifax House Price survey released tonight could provide further cause for concern. NEAR -TERM...

POUND STERLING Sterling received a fillip earlier today when leading credit ratings agency S&P confirmed the UK’s AAA debt rating. On the debit side, S&P’s report also noted that the UK’s economic recovery was ‘lacklustre’. If the Bank of England monetary policy committee opt to extend the UK’s quantitative easing...