Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
GBP A provisional estimate of Q1 GDP growth was reported at 0.1%, significantly below forecasts of 0.3% and the weakest quarterly figure for over five years. Year-on-year growth was held at 1.2%, down from 1.4%. The ONS stated that the weather had only a limited impact and market sentiment deteriorated,...
VIEW FULL ARTICLEGBP Consumer credit demand figures were tepid but business lending recovered, suggesting a potential investment recovery. March mortgage approvals printed better than forecast, although there was still an annual decline of 10%. CBI retail sales produced a weak reading of -2 for April from -8 previously, but retailers were optimistic...
VIEW FULL ARTICLEGBP Brexit secretary David Davis’s optimism on negotiations shielded the Pound somewhat, and an increase in bonds yields also helped in a quiet trading session. Markets were wary of the potential month-end selling and overall sentiment remained cautious.
VIEW FULL ARTICLEGBP Government borrowing declined to £1.3bn for March, down from £2.1bn in March 2017 and the provisional annual deficit narrowed to £42.6bn (from £46.1bn) which is the lowest annual deficit for 13 years.
VIEW FULL ARTICLEGBP Non-domestic influences were left to drive Sterling on Monday with the increase in global bond yields undermining the Pound, especially with concerns that global financial conditions would tighten. In light of the substantial UK current account deficit, low trading volumes will likely increase Sterling vulnerability.
VIEW FULL ARTICLEGBP The Pound remained under pressure on Friday morning with Carney’s change in expectations for a May rate hike casting a dark shadow. Friday saw a low of 1.4001 as UK data last week printed well below expectations, notably so in employment, inflation, and retail sales figures.
VIEW FULL ARTICLEGBP Bank of England Governor Mark Carney stated last night that he envisaged a few interest rate increases over the next few years but after mixed economic data he did not want to get too focused on the precise timing of a rate hike.
VIEW FULL ARTICLEGBP UK inflation (CPI) rose 0.1% in March with the year-on-year increase missing forecasts and declining to 2.5%; the lowest reading for 12 months. The core CPI also declined to 2.3% from 2.4% previously, although output prices were unexpectedly high. Stagnant prices of women’s clothing and tobacco were the main culprits.
VIEW FULL ARTICLEGBP UK unemployment fell to 4.2%, the lowest point since Jive Talkin’ was on the wireless (1975). Also in the docket was confirmation that the real wages are back in the black as average incomes including and excluding bonuses increased by 2.8% in the three months to February.
VIEW FULL ARTICLEGBP Sterling maintained a strong position yesterday, extending recent gains to fresh three-week highs near 1.4300 against the Dollar and 1.1587 against the Euro in the thick of expectations for a May rate hike.
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