Author: Josh Ferry Woodard

Josh's Latest Articles

Sterling Slides As UK GDP Disappoints

Friday, May 26th, 2017

An unexpected downgrade to first quarter growth weighed on Sterling yesterday, prompting mild losses against most of the majors. The Office for National Statistics’ (ONS) latest report saw quarterly growth revised down from 0.3% to 0.2%. When looked at in closer detail the economy only eked out an expansion of 0.18%, which is the weakest […]

GBP/USD Rallies Following Cautious Fed Minutes Report

Thursday, May 25th, 2017

With no significant new domestic data releases to contend with, Sterling traders mulled over news that Britons’ expectations for inflation ticked higher this month. The latest YouGov poll showed that the public expects consumer prices to increase by 2.6% over the next 12 months, up from 2.5% previously. However, the figure is actually lower than […]

GBP Fluctuates As Deficit Widens

Wednesday, May 24th, 2017

Sterling stuttered yesterday morning as the UK budget deficit for April came in wider-than-expected. The Office for National Statistics (ONS) reported that the government borrowed £10.4 billion last month to balance the books. A deceleration in tax intake helped push the figure considerably higher than the market consensus of £8.9 billion, and leaves Britain’s national […]

GBP/EUR Succumbs To 50-Day Low As Merkel Sparks Euro Buying

Tuesday, May 23rd, 2017

The Pound got off to a rocky start this week as traders sold out of Sterling on fears that a closer-than-anticipated election could impact Britain’s ability to pursue a smooth Brexit transition. Theresa May saw her lead over Jeremy Corbyn halve to around 9-points over the weekend following a backlash over proposals to reduce state […]

GBP USD Close To 8-Month High On Trump Scandals

Monday, May 22nd, 2017

With US President Donald Trump embroiled in a number of Russia and FBI related scandals, the US Dollar tumbled to its lowest level since last September against the Pound last week. The ‘Greenback’ weakened last week in reaction to fears that President Trump could be impeached. Although such a drastic move is a long way […]

GBP/EUR Slides As UK General Election Heats Up

Monday, May 22nd, 2017

The Pound to Euro exchange rate has fallen by around two cents over the last week due to concerns that the Bank of England may not raise interest rates even though inflation looks to be eroding domestic growth prospects. Sterling fell by around half a cent against the single currency at the start of last […]

Pound Back Above Resistance Vs. US Dollar

Monday, May 22nd, 2017

The Pound was treated to more positive data on Friday with UK factory orders printing at the highest level for over two years. The manufacturing index rose from +4 to +9 in May, indicating that new orders are continuing to surge despite Brexit uncertainties. Analysts suggested that the Pound’s post-referendum fall was helping make British […]

‘Flash Crash’ Takes Shine Off Sturdy UK Retail Report

Friday, May 19th, 2017

Sterling enjoyed a day of gains across the board yesterday as markets reacted positively to a sanguine UK retail sales report. With British wage growth lagging inflation, not many analysts were surprised when March’s retail sales index printed negatively at -1.2%. Due to the warm weather and the Easter Holiday, expectations for April were a […]

‘Cable’ Rallies As UK Employment Hits All-Time High

Thursday, May 18th, 2017

The Pound registered mild gains versus the majors yesterday in reaction to a surprise dip in the British jobless rate. UK unemployment fell to a 42-year low of 4.6% in March thanks to an ‘astonishing’ 122,000 surge in job creation, which took the employment rate to an all-time high of 74.8%. The headline figures gave […]

Sterling Stumbles Ahead Of Wage Growth Figure

Wednesday, May 17th, 2017

Sterling lost out against the majors yesterday, even though UK inflation printed higher-than-anticipated. Data showed that CPI rose from 2.3% to a fresh three-and-a-half-year high of 2.7% in April. Sterling’s post-Brexit depreciation, which ramped up import costs for producers, was the main driver behind the rise in price pressures. Surging energy costs due to the […]

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