Latest Currency News Continued - page 5

This morning’s session, from the perspective of the Pound Sterling, at least, is likely to be dominated by the release of a raft of price data which may alter investors’ perspective on the future direction of the Bank of England’s monetary policy. The key headline figure to look out for comes in the form of April’s annualised Consumer Price Index figure, purely and simply because it is the benchmark which the British...

This morning’s report from the Ernst & Young Item Club which found that the real cost to the UK economy of high levels of inflation since 2010 has been £10bn. The news has held back the POUND STERLING on the day. The latest Rightmove House Price survey, released overnight, has done little to improve investor sentiment towards Sterling. The Pound is expected to trade on a NEUTRAL TO NEGATIVE bias in the lead-up to...

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 to be of ‘investment standard’, allowing them to be bought up by a large number of...

A light schedule of data releases in the global economy have made for limited price action in the currency markets so far today. Perhaps the major driver amongst the investment community at the moment is the ongoing situation in Syria, where evidence has emerged within the past few days that the ruling Assad regimes has apparently used chemical weapons against civilians. Although the international community is yet to confirm this...

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 is almost guaranteed to be market-moving. Yesterday afternoon’s European session...

A significantly weaker than anticipated set of US Initial Jobless Claims data, released a short time ago in the States, has triggered a renewed bout of selling pressure on the US DOLLAR, sending the Pound to US Dollar exchange rate (currency : GBP USD) up from its intraday low of 1.5193 back up to close to the 1.5300 level as New York braces itself for the opening bell. The US labour market figure came as a double blow to the...

Yesterday afternoon’s session in the currency markets provided one of the most surprising headlines of the year – leading credit ratings agency Fitch announced that it had UPgraded the credit rating of long-term debt struggler Greece from CCC to B-. The development was not just good news for the Hellenic state, but also for the eurozone as a whole. The Pound euro exchange rate (currency : GBP EUR) dipped as a consequence,...

It was a good news / bad news morning in the currency markets for the Pound Sterling. On the credit side, the Bank of England’s Inflation Report saw the UK’s central bank upwardly amend its growth prediction for Britain’s economy, with overall activity expected to expand by 0.5% during the three months to the end of June 2013. The positive forecast, which if it comes to pass, will mean that the British economy has pulled...

The US Dollar once again market outperformed during yesterday’s session in the global currency markets. By the middle part of yesterday’s North American session, the Pound to US Dollar exchange rate had lost around half a percent of its value and had dipped to 1.5227. This represented the pair’s lowest level for some three weeks. The Greenback had started the day in good form thanks to Monday’s stronger than expected US...

The main event in the currency markets this morning was provided by the publication of the latest edition of the closely-monitored ZEW Sentiment Survey in Germany. Analysts had been anticipating that the gauge of confidence amongst economic participants in the eurozone’s premier economic power would show a healthy increase from last month’s print of 36.3. When the survey was released, it showed a tiny increase of only 0.1...