Latest 10 news items tagged China
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’...
US Dollar (USD) Rises as US Employment Data Improves in May
Published: 5 Jun at 5 PM 2020
The Pound (GBP) suffered today following Thursday evening’s release of the UK GfK Consumer Confidence report, which fell to 10-year lows at -36.
Joe Staton, GfK's client strategy director, commented on the report:
‘Against a backdrop of falling house prices, soaring jobless claims, and with no sign of a rapid V-shaped bounce-back on the cards, consumers remain pessimistic about the state of their finances and the wider economic picture for the year to come.’
Today also saw the release of...
US-China Trade Tensions Weigh on Australian Dollar
Published: 29 May at 4 PM 2020
The Pound (GBP) struggled today after the Bank of England’s (BoE) policymaker, Michael Saunders, said that the ‘searing experience’ of the coronavirus pandemic would leave its mark on the British economy long after the lockdown was lifted.
Mr Saunders commented:
‘If unchecked, there are risks of a vicious circle, whereby the economy gets stuck in a self-feeding loop of weak activity, pessimistic expectations and low investment.’
As a result, Sterling has suffered today from rising...
Euro Struggles as ECB Says Eurozone Economy Could Shrink by 12% This Year
Published: 28 May at 5 PM 2020
The Pound (GBP) performed well against the Euro (EUR) and US Dollar (USD) after Downing Street announced its defence of Prime Minister Boris Johnson’s chief aide, Dominic Cummings, who broke lockdown regulations in April.
As a result, Sterling reacted positively to an effective settling of the political controversy.
Meanwhile, the Office for National Statistics (ONS) also announced that 24% of businesses currently on pause would restart next month. With growing hopes for the British economy, the...
Euro (EUR) Steadies After Four Days of Gains
Published: 21 May at 5 PM 2020
<h2>Pound Sterling (GBP) Slumps on Speculation of BoE Rate Cuts</h2>
Sterling (GBP) suffered losses on Thursday as a combination of disappointing economic data and the risk of the Bank of England (BoE) sending interest rates into negative territory.
PMI data revealed the UK’s private sector was able to flatten out slightly in May after April’s dire contraction due to the coronavirus lockdown. Although yesterday’s disappointing inflation data sparked further speculation the BoE would cut rates below zero to support...
Italy’s Debt Crisis Weighs on Euro
Published: 18 May at 5 PM 2020
The Pound (GBP) began to push higher today after UK Health Secretary Matt Hancock revealed that everyone over five – with Covid-19 symptoms was now eligible for a coronavirus test. Mr Hancock also added that 21,000 people had been hired to carry out contract tracing tests.
As a result, Sterling benefited from what appears to be increasing steps to tackle the UK’s coronavirus crisis.
However, the Bank of England’s (BoE) increasing talks of taking the interest rates down below zero have left...
Sterling (GBP) Falls as UK Refuses to Compromise on Brexit
Published: 15 May at 1 PM 2020
<h2>Pound (GBP) Slides as PM Refuses to Compromise With EU Over Brexit</h2>
Sterling (GBP) suffered losses on Friday as this week’s disappointing data due to the coronavirus crisis and Brexit fears weighed on the currency. Sentiment was left dampened after Boris Johnson’s government reiterated its refusal to extend the current Brexit transition period beyond December.
Added to this, the government said it was not keen on compromising with the European Union on trade negotiations, which dragged GBP lower. According...