Pound Strengthens on Unexpected Rise in the UK Retail Sales in April
The pound gained ground against its peers Friday following the release of better-than-anticipated economic data. According to the ONS, the country’s retail sales volumes grew by 1.40% in April 2022 following a decline of 1.20% in March, and better than
Read MoreEuro Continues its Losing Streak as Gas Prices Surge
The Eurodollar continued its downtrend last week against the backdrop of another sharp rise in natural gas prices, aided by reports of Russia initiating new steps to turn off the taps to Europe. The Eurodollar declined fell to its major
Read MorePound Remains Weak Despite the Recent Decline
The pound lost considerable ground against the euro, the US dollar, and other top currencies in the week that ended and analysts stated that additional losses are likely in the week ahead even though a short-term rebound cannot be brushed
Read MoreEuro Remains Under Pressure as Russia Stops Gas Supply to Bloc
The GBP/EUR currency pair exchange rate has been consolidating as economic concerns of investors shift from the UK to the Eurozone following a reduction in the flow of Russian gas supplies to the bloc and against the backdrop of worries
Read MoreEuro Eclipses Pound as UK Witnesses Series of Poor Economic Data
The British Pound has fallen dramatically versus the Euro and the US Dollar after a series of dismal economic data readings. It is possible that economic growth in the UK may drop significantly since consumer confidence in the country has
Read MoreJapanese Yen Hits 20-Year Low as US Yields Rise
The dollar-yen exchange rate fell to a 20-year low earlier today, helped by strong US Treasury rates and perhaps positive economic reports from the United States. At 127.44 yen in the Asian trading session, the dollar was at its peak
Read MoreWas Beijing Behind “Co-Movement” of Currency Pairs Seen Last Week
A strong mid-week rise in the pound versus the greenback and Eurodollar has erased its early April falls, and there is corroboration that this buy began in Beijing and was designed to keep the trade-weighted renminbi from appreciating further. Despite
Read MoreCanadian Dollar Forecast to Remain Strong on 50-bps Rate Hike Expectations
With the Bank of Canada (BoC) policy announcement scheduled for coming Wednesday, the GBP/CAD exchange rate fell in the last trading session as the Loonie regained most of the ground lost to Sterling in the previous trading sessions. On Friday,
Read MoreCanadian Dollar to Remain Range Bound Against Greenback in April
The Canadian Dollar paused on Friday as the greenback and Sterling recovered from previous losses, benefiting CIBC Capital Markets analysts who purchased the latest USD/CAD slump, even as the Scotiabank team advises customers to trade GBP/CAD advances. As the greenback
Read MoreDollar Strengthens Against Rivals as Market Bets 50bps Rate Hike in May
In the the US session Friday, the greenback strengthened versus most of its key peers, as the US government rates increased amid rising anticipation that the Federal Reserve would tighten monetary policy forcefully to combat rising inflationary pressure. The 10-year
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