Market Awaits Bank of England’s Interest Rate Decision
Recent statistics support arguments that UK inflation and its core determinants are cooling down, but economists and market participants remain divided about their expectations from the Bank of England (BoE) in the coming week, with a sector of traders speculating
Read MorePound Strengthens Against Canadian Dollar on Moderate UK Economic Data
In spite of Canada having a respectable employment report for February, the exchange rate for the British pound to the Canadian dollar reached its highest level in a month just before the weekend. The strengthening of the pound was aided
Read MoreRobust US ISM Report Strengthens Greenback Against Pound
A crucial poll of the U.S. economy arrived in better than anticipated, causing the Dollar to recover prior to the weekend. The US ISM services PMI registered 55.1 in February, exceeding forecasts for a decline to 54.5 from 55.2 in
Read MoreSouth African Rand Weakens on FATF Greylisting
In unfavorable global market scenarios preceding the weekend and in response to a “greylisting” judgment by the Financial Action Task Force, the South African Rand trailed a number of comparable currencies (FATF). On Friday, the South African Rand fell against
Read MorePound Loses Momentum as BoE Hints Smaller Rate Hikes
The Bank of England (BoE) risks going overboard if it keeps raising the Bank Rate as rapidly as it has in recent months, according to its chief economist Huw Pill, who hints that he, too, may prefer a swing back
Read MoreCanadian Dollar Strengthens on Overwhelmingly Positive Canadian Jobs Data
GBP/CAD declined as a result of Statistics Canada’s announcement of a substantial rise in the labor force for January, which was comparable to the growth in non-farm payrolls witnessed across the frontier only last week. In January, Canada’s labor market
Read MoreUS Dollar Strengthens Against Pound on Solid Employment Data
Following the announcement of unexpectedly robust US data, the British Pound came under substantial pressure versus the Euro and the US Dollar just before the weekend. Regardless of a series of activity-restricting interest rate rises by the US Federal Reserve,
Read MorePound Sterling Tipped to Remain Supported by Credit Suisse Analyst
Analysts at Credit Suisse predict that the British Pound will stay reasonably well maintained versus the Euro and Dollar in the foreseeable future, partly in part due to signs that the UK economic prospects have strengthened, which should permit an
Read MoreEuro Signals Rebound as Market Expects Fed Rate Cut in Mid-2023
As per the recent study, the Federal Reserve is on track to reduce interest rates as soon as the middle of 2023, and as a consequence, the Euro will strengthen “substantially” versus the Dollar. As a consequence, TS Lombard, a
Read MorePound Sterling Strengthens on Signals of UK Economy’s Resilience
The British Pound climbed against the Euro and the US Dollar on Friday, as markets analyzed the first big UK data publication of 2023, which revealed that the UK economy surprisingly expanded in November. The ONS reported that the economy
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