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Sun 21 Jul 2019 03:22GMT

Euro News

Latest 10 news items tagged Euro

GBP/USD Exchange Rate Falls Below $1.24 for the First Time in 27 Months Published: 16 Jul at 5 PM 2019
<h2>Pound Sterling (GBP) Slumps as UK Wages Rise at Fastest Rate Since 2008</h2> Sterling was left under pressure on Tuesday despite data revealing that UK unemployment remained at a multi-decade low of 3.8%. Added to this, UK wages rose at the fastest rate in almost 11 years. However, the Pound slumped as there were some signs that the labour market was beginning to weaken, as employment growth slowed to a disappointing 28,000 in May. Added to this, Brexit pessimism plagued Sterling as the Conservative Leadership...
Pound (GBP) Benefits from Brexit ‘Resilient’ Stance from the Bank of England Published: 11 Jul at 5 PM 2019
<h2>Pound Sterling (GBP)</h2> The Pound (GBP) rose against many of its competitors following the Bank of England’s (BoE) financial stability report today. The BoE emphasised its resilience in response to a possible chaotic, saying in its statement that it is ‘prepared for Brexit and trade war fall-out’. Mark Carney, the Governor of the BoE, also said that UK businesses were becoming increasing well-prepared for the Brexit scenario, further easing Brexit fears. This mood of resilience from the UK central bank...
Pound (GBP) Falls as UK Retail Sales Fall to Record Lows Published: 9 Jul at 4 PM 2019
<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell following the publication of the annual BRC like-for-like retail sales figures for June, which fell to record lows from -3.0% to -1.6%. Helen Dickinson, the Chief Executive at BRC, said: ‘Overall, the picture is bleak. Rising real wages have failed to translate into higher spending as ongoing Brexit uncertainty led consumers to put off non-essential purchases.’ US-UK relations have also soured following a leak which indicated that the British ambassador to...
Another RBA Rate Cut on the Horizon? Published: 4 Jul at 4 PM 2019
<h2>Pound Sterling (GBP) Under Pressure as Brexit Pessimism Looms</h2> Sterling (GBP) remained under pressure on Thursday as Brexit Secretary Steve Barclay stated that a no-deal Brexit could trigger a recession. When asked if he could rule out the UK suffering a recession due to a no-deal Barclay simply stated ‘Well, no.’ Meanwhile, looking ahead to Friday, Pound sentiment could rise following the release of the Halifax house price data. If prices rise higher than forecast it could provide an upswing of...
Australian Dollar (AUD) Rises as RBA Slashes Interest Rates to Record Low Published: 2 Jul at 5 PM 2019
<h2>Pound (GBP) Under Pressure as Carney Warns Trade Tensions Could ‘Shipwreck’ Global Economy</h2> On Tuesday afternoon, Sterling remained under pressure following a disappointing UK construction PMI which fell at its fastest rate in a decade. Meanwhile, in a speech Bank of England (BoE) Governor Mark Carney warned the global trade war could ‘shipwreck’ the global economy. Looking ahead to Wednesday, the Pound could continue to remain under pressure following the release of the services PMI. If June’s...
Australian Dollar (AUD) Rises on US-China Trade Deal Optimism Published: 26 Jun at 5 PM 2019
<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell today following comments from former Brexit Secretary Dominick Raab that Boris Johnson, the current Tory leadership favourite for next Prime Minister, would likely block attempts to prevent a no-deal Brexit. Mark Carney, the Governor of the Bank of England, also sounded a dovish note today, saying that Brexit would likely force the bank to cut interest rates in an effort to provide stimulus to the economy. <h2>US Dollar (USD)</h2> The US Dollar (USD)...
US Dollar (USD) Under Pressure Ahead of Trump-Xi Meeting Published: 24 Jun at 5 PM 2019
<h2>Pound (GBP) Falls as UK Could see Slowest Consumer Spending Growth in Six Years</h2> The Pound Sterling (GBP) slumped against a handful of currencies as the UK currency remained gripped by fears the country would crash out of the European Union on 31 October without a deal. Meanwhile, the EY ITEM Club also revealed that the UK will see the slowest growth in consumer spending in six years. Looking ahead to Tuesday, due to a lack of economic data releases it is likely Sterling will remain under pressure as the...
BoE’s Dovish Shift Weighs on Sterling (GBP) Published: 20 Jun at 4 PM 2019
<h2>Pound (GBP) Falls as BoE Leaves Interest Rates Unchanged</h2> On Thursday afternoon, the Pound slumped against a handful of currencies following the release of the Bank of England’s (BoE) interest rate decision. The bank left interest rates unchanged at 0.75%. However, the bank’s meeting minutes dampened sentiment in Sterling as it suggested the BoE has growing concerns the UK will crash out of the EU without a deal. Thomas Pugh of Capital Economics wrote: ‘Clearly the weaker economic news has played...
Pound (GBP) Rises as Boris Johnson Receives Majority Confidence in Tory Vote Published: 13 Jun at 4 PM 2019
<h2>Pound Sterling (GBP)</h2> The Pound rose today after Tory MPs voted on their future leader, with Boris Johnson, the former Foreign Secretary and hard-Brexiter, securing the majority of 114 votes. This has caused some relief for Sterling investors as the political deadlock has eventually shifted, although with Boris Johnson’s staunch stance on Brexit, this is unlikely to last. Today also saw the publication of the RICS housing price balance figures for May, which came in at a better-than-expected -10 – instead...
Sterling (GBP) Slides on Disappointing GDP Published: 10 Jun at 5 PM 2019
<h2> Pound (GBP) Slumps as UK Manufacturing Output Falls to 17-Year Low</h2> The Pound (GBP) slumped on Monday after data revealed the UK economy shrank by -0.4% in April, and in the three months to April, GDP rose by 0.3%. Added to this data showed that the UK’s car manufacturing sector fell by 24% thanks to Brexit car factory shutdowns, which dragged overall manufacturing output down to a 17-year low. Meanwhile, think tank, NIESR warned that the UK economy could shrink by -0.2% in the second quarter of 2019 which...

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