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A press release from leading credit ratings agency Moody’s Investor Services, released during Friday’s session, spelled good news for Turkey and for the Turkish Lira. Moody’s announced that they had upgraded their credit rating of the Mediterranean nation’s sovereign debt to Baa3. The move means that Turkish bonds are now considered...

The fortunes of the US Dollar and conditions in America’s vast labour market have been intertwined since the Federal Reserve stated last month that it would not be calling a halt to its controversial Quantitative Easing programme until the jobs situation in the States had improved considerably. This set up means that any employment data in...

The US Dollar was star performer in the currency markets yesterday afternoon following the release of a strong set of domestic labour market data. Official US government figures revealed that the number of Initial Jobless Claims had fallen to its lowest level since late in late 2007 last week. The print of 323,000 new claimants bettered...

Pound Sterling The Pound is little changed against the US Dollar as economists wait for the release of data that is expected to show that UK services industries expanded for a fourth-month in a row in April. US Dollar The ‘Greenback’ halted its biggest advance against the Euro in two-weeks ahead of economic data that is expected...

Pound Sterling The Pound is within 0.4% of an eleven-week high against the US Dollar ahead of the release of a report that is expected to show that UK construction fell at a slower pace than in April. Against the Euro, Sterling was little changed as the market awaits the European Central Bank’s decision on interest rates. The...

North American data releases stole the show during yesterday afternoon’s European session. Canada led the way with the publication of February’s monthly Retail Sales data which showed that domestic shop sales increased by a higher than expected 0.8% the month before last. A combination of this positive data release, coupled with a...

Yesterday’s session in the currency markets brought a relatively light schedule of data releases, perhaps the most significant of which came from the eurozone in the form of the latest consumer confidence survey. Analysts had been anticipating a deterioration of the levels of optimism amongst economic participants in the region, so it came...

The overnight session brought a brace of negative commentaries from global policymakers which could hold back the Pound in the short-to-medium term. Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), described the recent economic figures from the UK economy as ‘not particularly good’. Lagarde’s...

The POUND STERLING has been held back on the day by another disappointing UK data release. This time it was March’s Retail Sales figures which hurt the Pound, sending the GBP EUR exchange rate down to as low as 1.1660 earlier. With no further British tier one data releases penned in for the remainder of the week, Sterling could now suffer...

The ailing UK economy suffered yet another body blow during the middle part of yesterday’s European session when the International Monetary Fund slashed its 2013 GDP Growth forecast from last month’s estimate of 1.0% to 0.7%. The news prompted the Pound to lose ground against the euro, sending the GBP/EUR exchange rate down to as low as...