Latest Currency News Continued - page 7
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GBP CAD Exchange Rate Trends Lower after Widened Trade Deficit and Muted BoE Meeting
12 May 2017 at 1 PM - Written by Toni Johnson
STORY LINK GBP CAD Exchange Rate Trends Lower after Widened Trade Deficit and Muted BoE Meeting
Confidence in the Pound was sharply dented by a raft of disappointing UK data, leaving the Pound Canadian Dollar exchange rate on a downtrend.
Investors were not impressed to find that the UK visible trade deficit had widened further than forecast in March, clocking in at -13.44 billion rather than -11.6 billion.
This highlighted the continued vulnerability of the domestic economy, particularly as the NIESR gross domestic...
CATEGORIES: Canadian Dollar Forecasts Currency Predictions
GBP AUD Exchange Rate Slumps as BoE Leave Rates Unchanged
11 May 2017 at 2 PM - Written by Toni Johnson
STORY LINK GBP AUD Exchange Rate Slumps as BoE Leave Rates Unchanged
The Pound Australian Dollar (GBP AUD) exchange rate tumbled this afternoon as the Bank of England (BoE) voted to leave interest rates on hold.
When asked why the bank left rates at a record low of 0.25% despite robust inflation, BoE Governor Mark Carney responded that the level of stimulus was appropriate for the current situation and that inflation is only above the bank’s target rate of 2.0% because of the 16% fall in...
CATEGORIES: Australian Dollar Forecasts Currency Predictions
EUR to USD Exchange Rate Calmer Ahead of Friday’s Key Data
11 May 2017 at 10 AM - Written by Frank Davies
STORY LINK EUR to USD Exchange Rate Calmer Ahead of Friday’s Key Data
Thursday finally saw the Euro recover slightly after being sold in profit-taking for most of the week. The Euro to US Dollar exchange rate has also benefitted from decent Eurozone data and US political jitters.
After Sunday’s election of pro-EU Emmanuel Macron as the next President of France, EUR/USD briefly jumped to a high of 1.1022 at the beginning of the week. However, EUR/USD has tumbled since then, hitting a low of...
CATEGORIES: Daily Currency Updates Euro Forecasts
EUR GBP Exchange Rate Tight ahead of High-Impact BoE Inflation Report
10 May 2017 at 4 PM - Written by James Fuller
STORY LINK EUR GBP Exchange Rate Tight ahead of High-Impact BoE Inflation Report
The Euro’s lacklustre performance against the Pound today follows a speech from ECB President Mario Draghi.
Although Draghi was optimistic about Eurozone growth, he stressed that ‘it is too early to declare success’.
This ‘wait and see’ attitude, along with a frosty reception from the Dutch MPs Draghi was speaking to, has lowered confidence in the Euro. Traders hoping for a more optimistic outlook on monetary...
CATEGORIES: Euro Pound Forecasts
GBP to USD Exchange Rate Benefits from Trump Jitters
10 May 2017 at 12 PM - Written by Ben Hughes
STORY LINK GBP to USD Exchange Rate Benefits from Trump Jitters
After slipping earlier in the week, the Pound to US Dollar exchange rate began to recover on Tuesday evening and Wednesday as investors reacted with shock to news that US President Donald Trump had fired the Director of the FBI.
Despite recovery from its weekly lows, GBP/USD continues to trend below the week’s opening levels. GBP/USD opened this week at the level of 1.2980 and at the time of writing the pair trended in the...
CATEGORIES: Dollar Pound Forecasts
GBP NOK Exchange Rate Benefits from Sliding Oil Prices
9 May 2017 at 5 PM - Written by John Cameron
STORY LINK GBP NOK Exchange Rate Benefits from Sliding Oil Prices
With risk appetite generally faltering the Pound Norwegian Krone (GBP NOK) exchange rate was encouraged to return to an uptrend.
Although markets were relieved that centrist Emmanuel Macron had emerged victorious in the French presidential election it was not long before the initial boost in risk appetite faded.
Weaker-than-expected Norwegian industrial and manufacturing production figures also put renewed pressure on the...
CATEGORIES: Pound Norwegian Krone Forecasts
GBP NZD Exchange Rate Slumps on Fresh Fears of Hard Brexit
8 May 2017 at 4 PM - Written by Ben Hughes
STORY LINK GBP NZD Exchange Rate Slumps on Fresh Fears of Hard Brexit
Sterling has traded at 1.87 against the New Zealand Dollar, down from a rate of 1.88 on May 7th.
The only UK economic news on Monday has covered house prices; the Halifax price index reprinted growth on the year but showed no monthly change.
More impactful has been the French Presidential election, which concluded with a landslide victory for Emmanuel Macron. Much of Macron’s campaign strategy was aimed at promoting the...
CATEGORIES: Currency Predictions Pound New Zealand Dollar Forecasts
EUR to USD Exchange Rate Could End Week Near Multi-Month Highs
5 May 2017 at 10 AM - Written by John Cameron
STORY LINK EUR to USD Exchange Rate Could End Week Near Multi-Month Highs
After fluctuating earlier in the week, the Euro to US Dollar exchange rate gained almost a cent on Thursday as markets reacted to a strong TV debate performance from pro-EU French Presidential candidate Emmanuel Macron.
EUR/USD began this week trending at the level of 1.0896. After briefly hitting a low of 1.0876 on Thursday morning, the pair surged to a high of 1.0987.
This was the pair’s best level since the election of...
CATEGORIES: Currency Predictions Daily Currency Updates Euro Forecasts
GBP NOK Exchange Rate Holds onto Gains After Bullish Services PMI
4 May 2017 at 2 PM - Written by James Fuller
STORY LINK GBP NOK Exchange Rate Holds onto Gains After Bullish Services PMI
A trio of better-than-expected UK PMIs offered support to the Pound Norwegian Krone exchange rate, suggesting that the economy is bouncing back from a weak first quarter.
The manufacturing, construction and service sectors all demonstrated a solid level of growth on the month, even as price pressures continued to build thanks to the post-referendum fall of Sterling.
However, as new car registrations plummeted and mortgage...
CATEGORIES: Pound Norwegian Krone Forecasts
GBP to USD Exchange Rate Near 7-Month Highs ahead of Key ‘Obamacare’ Repeal Vote
4 May 2017 at 1 PM - Written by Ben Hughes
STORY LINK GBP to USD Exchange Rate Near 7-Month Highs ahead of Key ‘Obamacare’ Repeal Vote
Sterling-supportive news has been the UK services PMI for April. As with manufacturing and construction PMIs this week, the services result has risen instead of falling as forecast.
Elsewhere, new car sales in April plummeted on the year by nearly -20%, though this was attributable to a recent change in vehicle excise duty (VED).
The next high-impact UK data isn’t due until the coming Thursday, when the Bank of England...
CATEGORIES: Daily Currency Updates Dollar Pound Forecasts