Latest 10 news items tagged China
Pound (GBP) Struggles as Hard Brexit Fears Grow as Controversial Bill Secures Majority Vote
Published: 15 Sep at 5 PM 2020
The Pound’s (GBP) gains were short-lived today as mounting opposition to the controversial Brexit Internal Market Bill failed to convince UK Markets. As a result, Sterling has suffered a setback from concerns over the increasing likelihood of a no-deal Brexit on December 31st.
In UK economic news, today also saw the UK ILO Unemployment Rate for July confirm forecasts and rise from 3.9% to 4.1%, igniting concerns over increasing levels of joblessness in the UK.
Darren Morgan, director of economic...
Euro (EUR) Steadies as ECB Holds Interest Rate at 0%
Published: 10 Sep at 2 PM 2020
<h3>Pound (GBP) </h3>
The Pound (GBP) has remained subdued today as UK markets are becoming increasingly jittery over the prospect of a no-deal Brexit on December 31st. This follows Downing Street’s backtracking on the Withdrawal Agreement, which has sparked concerns that relations between the UK and the EU could be souring.
Today also saw fears rise over the possibility that Downing Street could be preparing to walk away from Brexit talks. This comes after reports that one of the European Commission’s top officials...
No-Deal Brexit Fears Lead to Pound Plummet, Risk-Off Movement
Published: 8 Sep at 5 PM 2020
Pound Sterling (GBP)
The Pound continued to plummet across the board today, registering significant losses against major rivals. No-deal Brexit fears intensified, and signs of discord in the UK government only further weighed on the Pound’s appeal.
Brexit developments will remain the focus for the Pound in the coming sessions. Positive developments in UK-EU negotiations would be a surprise, but could also lead to a big rebound in the Pound.
The Euro saw slightly stronger demand today. The shared currency was able to...
Pound (GBP) Sinks as Concerns Grow Over British Economy
Published: 19 Aug at 5 PM 2020
The Pound (GBP) struggled against its peers today despite UK CPI data for July beating forecasts and rising from 0.6% to 1%. However, with the figure well below the Bank of England’s (BoE) target of 2%, this failed to buoy confidence in Sterling.
GBP also failed to benefit from Downing Street’s assurances that it was seeking for a post-Brexit trade deal with the European Union as early as next month. Nevertheless, this failed to convince markets, with fears growing over the shaky relations between...
Euro (EUR) Steadies as the ECB Holds its Interest Rates at 0%
Published: 16 Jul at 5 PM 2020
The Pound (GBP) struggled today after UK unemployment remained high with over 640,000 people losing their jobs since the onset of the coronavirus pandemic.
As a result, investors have become increasingly concerned that Britain’s economic recovery could be much slower than previously expected.
Frances O’Grady, the general secretary of the TUC, was downbeat in his analysis, saying:
‘There’s a national disaster unfolding, with vacancies at an all-time low and more jobs lost every day....
New Zealand Dollar (NZD) Struggles on Fears of Another RBNZ Rate Cut
Published: 13 Jul at 5 PM 2020
The Pound (GBP) struggled today after the Institute of Directors (IoD) reported that UK high street footfall had significantly decreased in June. As a result, GBP investors have become increasingly concerned over Britain’s economic recovery.
Meanwhile, Sterling traders have also become worried over the apparent lack of progress in UK-EU trade talks. Furthermore, several reports have warned that many British businesses are unprepared for a full Brexit on 31st December.
However, today saw the Bank...
US Dollar (USD) Under Pressure as American Covid-19 Cases Rise
Published: 29 Jun at 5 PM 2020
The Pound (GBP) suffered today after the UK’s Mortgage Approvals figures for May fell to record lows. As a result, GBP investors have becoming increasingly concerned for Britain’s economic recovery going forward.
Today also saw Downing Street drop hints that it could be aiming for September to wrap up its post-Brexit negotiations with the European Union. Consequently, this has sparked fears that the UK could be heading for a no-deal Brexit in December.
Canadian Dollar (CAD) Benefits as BoC Effectively Rules Out Negative Interest Rates
Published: 22 Jun at 5 PM 2020
The Pound (GBP) edged higher against many of its peers today after it was reported that Prime Minister Boris Johnson would more-than-likely ease social distancing guidelines on Tuesday.
As a result, Sterling has benefited from growing hopes for its economy, with relaxed guidelines likely to improve the economy’s performance in the months ahead.
However, today saw the UK’s factory orders fall to record lows, which has left some GBP investors increasingly jittery about the nation’s industrial...
The Pound (GBP) Suffers as Bank of England Ramps Up Stimulus Measures
Published: 18 Jun at 5 PM 2020
The Pound (GBP) fell against most major currencies today after the Bank of England (BoE) announced a further £100 billion addition to its quantitative easing programme. As a result, this left many investors feeling concerned for Britain’s economic recovery.
The BoE was also downbeat in its statement:
‘There is a risk of higher and more persistent unemployment in the United Kingdom. Even with the relaxation of some Covid-related restrictions on economic activity, a degree of precautionary...
Pound (GBP) Rises as Non-Essential Shops Reopen Throughout the UK
Published: 15 Jun at 5 PM 2020
The Pound (GBP) edged higher against its peers today as non-essential UK shops reopened for the first time since the beginning of Britain’s nationwide Covid-19 lockdown. As a result, Sterling traders have become more optimistic about the nation’s economic recovery.
GBP has also benefited from hints form the Government that it could scrap or alter its 2-metre distancing guideline. This follows comments from Prime Minister Boris Johnson, who suggested that the UK now had more room to ‘manoeuvre’...