Showing articles for July 2015

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US growth figures help Dollar

31 July 2015
Robin Haynes
Yesterday’s main news in currency markets was the first reading of US GDP for the second quarter of 2015, with figures of 2.3% annual growth putting the US up with the UK as the two major world economies leading the way in terms of economic growth.

US Economy improving as rate hike approaches

30 July 2015
Rob Bastin
Yesterday’s trading saw the pound recover a little more ground after last week’s losses, following early morning reports that mortgage approvals were on the increase from last month as well as consumer credit growing more than market expectations. Consumer credit saw a healthy rise from £1.06B to £1.22B and 66.5k new mortgages were approved in June compared to 64.8k in May. These figures gave the pound a boost in early trading although did not continue throughout the day with the markets correcting in the afternoon.

UK GDP Gives Sterling A Boost

29 July 2015
Simon Eastman
Tuesday followed what was a quiet start to the trading week but at least gave the chance of some juicy data for traders to go on in the form of UK GDP.

Euro continues to push higher

27 July 2015
Robin Haynes
The Euro has continued to gain in value on currency markets, despite EU bailout talks in Athens on Friday being delayed due to ‘logistical reasons’.

Poor UK retail sales no help for the Pound

24 July 2015
Matthew Boyle
With this being the first week in around a month where the market hasn’t been dominated by what is going on in Europe and Greece, focus returned largely to data to drive the market. The major news of the week was on Wednesday where we saw the Bank of England minutes and monetary policy committee vote.

Bank of England boost Sterling

23 July 2015
Rob Bastin
Wednesday’s trading kicked off with the Bank of England minutes from their interest rate decision earlier this month. Mark Carney has already spoken in recent weeks about the possibility of the first rate hike since the recession taking place sooner than previously forecast, as he continues to provide forward guidance to the markets.

Have The Tables Turned

22 July 2015
Simon Eastman
Yesterday we saw the euro make significant gains against its major pairings including the pound and US dollar.

Exchange rates take a breather

21 July 2015
Robin Haynes
As we have seen Greek banks re-opening and Athens clearing its debt arrears with the IMF already this week, for a change financial markets appear poised for a quieter couple of days after the turmoil of recent weeks.

Greek banks are finally open busy week ahead on the currency markets

20 July 2015
Rob Bastin
With the third Greek bailout agreed but still in the pipeline in terms of getting the details nailed down and and getting the final authorisations, the Euro starts this week where it left of last week - completely on the back foot. Both the US Dollar and Sterling are hitting new highs against the single currency, with both of the Euros major competitors talking interest rate hikes in the coming months this is no great surprise.
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