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UK Inflation Slows for First Time since October 2016; GBP CAD Slumps

Tuesday, July 18th, 2017

Poor UK inflation data for June has caused the GBP CAD exchange rate to slump to 1.6436 today. The Pound Canadian Dollar exchange rate was down -0.8% in the region of 1.6436 at the time of writing, following poor UK data. Core consumer price growth has slowed year-on-year from 2.6% to 2.4% and non-core inflation […]

Sluggish Day for Data Keeps GBP Muted

Tuesday, July 11th, 2017

There was little in the way of fresh developments yesterday to move Sterling. The Pound was left on mixed form, reacting to strength or weakness is other major currencies, thanks to a lack of domestic data. Traders were still focused on last week’s ecostats, as their disappointing results have lowered the odds of the Bank […]

GBP AUD Loses Gains on Poor UK Industry Data

Monday, July 10th, 2017

The Pound Australian Dollar managed to make some strong advances last week, but poor trade data on Friday saw the Pound cede gains from the previous four days. The GBP AUD exchange rate closed the week in the region of 1.6945. GBP AUD exchange rates started the week on the decline, although both the UK […]

Pound Edges Higher, Battered by UK Production Data

Monday, July 10th, 2017

The Pound starts this week edging up from Friday’s lows. The production and trade data released before the weekend furthered GBP losses after revealing unexpected declines virtually across the board. Industrial production slowed by -0.1% on the month during May, manufacturing production by -0.2% and construction output by -1.2%. All forecasts had been for growth. […]

Pound Seesaws after Theresa May’s Offer to EU Citizens

Monday, June 26th, 2017

The Pound was on strong form on Friday, after what markets considered to be a decent offer to EU citizens currently living in the UK on behalf of the government. Theresa May was in Brussels on Thursday evening, where she made her pitch over a dinner with EU officials. After debating it, the European Council […]

Pound Rises as Theresa May Guarantees Rights of EU Citizens in UK

Friday, June 23rd, 2017

Pound Sterling softened yesterday as markets were awaiting the outcome of Theresa May’s trip to Brussels, during which she was set to deliver her offer on the rights of EU citizens living in the UK. Confederation of British Industry (CBI) data showed that UK industry saw total order volumes grow to a 29-year high in […]

Markets Stunned as UK Votes for Hung Parliament

Friday, June 9th, 2017

The Pound tumbled overnight and extended losses this morning after the results of the election stunned markets and political commentators. GfK Ipsos MORI’s exit poll, conducted for the BBC, Sky News and ITV News, showed that the Conservatives would fall short of a majority. Staggeringly, the survey seems to have been almost bang-on in its […]

GBP CAD Softens as UK General Election Swiftly Approaches

Tuesday, June 6th, 2017

The GBP CAD exchange rate is slipping lower today as election jitters weigh on Sterling, but at 1.7389 the pairing is still over one-and-a-half cents above the lows seen at the beginning of last week. The Pound managed to climb sharply on Wednesday, arriving at the level around which it would hold for the remainder […]

GBP ZAR Slumps as Poll Predicts Hung Parliament for UK

Wednesday, May 31st, 2017

The Pound South African Rand exchange rate slumped to a three-week low of 16.4267 last week after a run of poor UK data and disconcerting election polls. Last Thursday saw a second approximation of the UK’s first-quarter GDP released, with growth unexpectedly being revised down from 0.3% to 0.2%. Considering the first estimate of 0.3% […]

USD on Edge as Markets Await FOMC Meeting Minutes

Wednesday, May 24th, 2017

Yesterday’s public sector borrowing figures showed government spending exceed forecasts. The deficit was already expected to widen markedly, rising to -£8 billion, but in fact overshot projections to clock in at -£9.6 billion. The fact that the government started the new fiscal year with a larger-than-expected overspend prompted a Pound-sell off, from which GBP is […]

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