Latest Currency News Continued - page 6
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GBP/EUR Wobbles around Opening Levels despite Strong Factory Order Growth
19 May 2017 at 12 PM - Written by Minesh Chaudhari
STORY LINK GBP/EUR Wobbles around Opening Levels despite Strong Factory Order Growth
The GBP/EUR exchange rate remains stuck around opening levels of 1.1656 today, with strength in both currencies creating a stalemate.
Data from the Confederation of British Industry (CBI) has shown that factory orders rose at the swiftest pace in May since February 2015, with the balance of the order book index increasing from 4 to 9.
Output growth climbed to the highest seen since December 2013, rising from 22 to 28,...
CATEGORIES: Pound Euro Forecasts
GBP USD Exchange Rate Rockets to Seven-Month High as Retail Sales Surge
18 May 2017 at 2 PM - Written by Ben Hughes
STORY LINK GBP USD Exchange Rate Rockets to Seven-Month High as Retail Sales Surge
The GBP USD exchange rate surged to a new seven-month high this morning as the UK’s retail sales grew faster than expected last month.
The Pound leapt over $1.30 for the first time since early October as data released by the Office for National Statistics (ONS) showed that UK retail sales surged from -1.4% to 2.3% in April, sailing past forecasts that sales would only grow 1.0%.
The ONS attributed the jump to increased...
CATEGORIES: Currency Predictions Dollar Pound Forecasts
GBP to AUD Exchange Rate Surges Despite Strong Australian Employment Data
18 May 2017 at 12 PM - Written by Tim Boyer
STORY LINK GBP to AUD Exchange Rate Surges Despite Strong Australian Employment Data
After volatile movement earlier in the week, the Pound to Australian Dollar exchange rate saw strong surge on Thursday in reaction to Britain’s latest retail sales data. The pair easily pushed higher due to poor risk-sentiment.
GBP/AUD began the week trending at around 1.7440 and fluctuated between 1.7350 and 1.7530 for most of the week until Thursday, when it jumped to a new weekly high of 1.7571.
Britain’s April retail...
CATEGORIES: Australian Dollar Forecasts Currency Predictions
GBP ZAR Exchange Rate Surges on Surprise UK Unemployment Rate Drop
17 May 2017 at 4 PM - Written by James Fuller
STORY LINK GBP ZAR Exchange Rate Surges on Surprise UK Unemployment Rate Drop
The Pound’s significant gains against the Rand come after a mixed UK data release, which brought historically positive and negative results.
On the supportive side, UK unemployment in March dropped from 4.7% to 4.6%, bettering forecasts for no movement. This put unemployment at a historic low, while the percentage of employed persons has been the best on record.
Commenting on the news was Resolution Foundation official...
CATEGORIES: Daily Currency Updates Pound Rand Forecasts
GBP to USD Exchange Rate Benefits from Trump Uncertainty
17 May 2017 at 1 PM - Written by Tim Boyer
STORY LINK GBP to USD Exchange Rate Benefits from Trump Uncertainty
While Sterling has dropped against some other major currencies this week, the Pound to US Dollar exchange rate has advanced. Rising political anxiety in the US has harmed Fed rate hike bets and the appeal of the US Dollar.
Last week saw GBP/USD drop to 1.2886. However, since markets opened this week the pair has trended higher. On Wednesday the pair hit a weekly high of 1.2958.
The Pound outlook has been mixed this week...
CATEGORIES: Daily Currency Updates Dollar Pound Forecasts
GBP INR Exchange Rate Trends Tightly as UK Wage Squeeze Looms
16 May 2017 at 2 PM - Written by Minesh Chaudhari
STORY LINK GBP INR Exchange Rate Trends Tightly as UK Wage Squeeze Looms
UK data has devalued the Pound today, causing a tight trending in the GBP INR exchange rate. UK inflation rate figures have caused this downtrend, despite rising above forecasts from 2.3% to 2.7%.
The rise in inflation comes at a time of glacial wage growth, which has raised fresh fears of a wage squeeze damaging UK economic growth. Responding to the news was Resolution Foundation Chief Economist Matt Whittaker;
CATEGORIES: Currency Predictions Pound Rupee Forecasts
GBP AUD Exchange Rate Volatile as UK Inflation Skyrockets
16 May 2017 at 12 PM - Written by John Cameron
STORY LINK GBP AUD Exchange Rate Volatile as UK Inflation Skyrockets
The Pound Australian Dollar (GBP AUD) exchange rate has fluctuated this morning following the release of the UK’s latest inflation figures.
According to data released by the Office for National Statistics (ONS) UK inflation rocketed from 2.3% to 2.7% in April, reaching its highest levels since September 2013 and outpacing initial forecasts that it would rise to 2.6%.
The jump was largely prompted by higher air fares as the...
CATEGORIES: Australian Dollar Forecasts Daily Currency Updates
GBP ZAR Exchange Rate Drops -0.8% on Fears of Growing UK Unemployment
15 May 2017 at 2 PM - Written by Toni Johnson
STORY LINK GBP ZAR Exchange Rate Drops -0.8% on Fears of Growing UK Unemployment
The GBP ZAR exchange rate has fallen to 17.10 today, which is the worst rate since late April.
The sharp Pound to Rand downturn has largely been caused by pessimistic UK economic forecasts. One of the biggest has been EY Item Club’s estimate for UK unemployment.
The group predicts UK unemployment to remain around 4.7% in 2017, but for a greater jobless rate at 5.4% in 2018 and 5.8% in 2019.
Item Club Senior Economic...
CATEGORIES: Currency Predictions South African Rand Forecasts
GBP/EUR Fails to Capitalise as Greece Re-enters Recession
15 May 2017 at 12 PM - Written by Tim Boyer
STORY LINK GBP/EUR Fails to Capitalise as Greece Re-enters Recession
The GBP/EUR exchange rate is struggling around opening levels of 1.1792 today.
The British Pound has been kept weak by a new report from EY ITEM Club which offers a dovish forecast for the UK labour market over the coming years.
As well as a -0.1% fall in employment in 2018, the unemployment rate will rise from 4.7% to 5.4%, increasing another 0.4% in 2019, the report predicts.
‘The UK labour market may be starting to...
CATEGORIES: Pound Euro Forecasts
Indian Finance Minister’s Confidence in Economy Undermines GBP/INR
12 May 2017 at 4 PM - Written by Ben Hughes
STORY LINK Indian Finance Minister’s Confidence in Economy Undermines GBP/INR
A lack of UK data, coupled with a positive outlook for the Indian economy and monetary policy, has pushed the Pound Sterling to Indian Rupee exchange rate down -0.2% to 82.7830.
The UK data docket has been entirely empty today, giving markets nothing to distract them from yesterday’s poor data and disappointing developments from the Bank of England (BoE).
March figures covering industrial, manufacturing and construction...
CATEGORIES: Pound Rupee Forecasts