Latest 10 news items tagged Germany
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...
Pound (GBP) Struggles as UK Inflation Drops to Four-Year Lows
Published: 17 Jun at 5 PM 2020
The Pound (GBP) suffered today after the UK’s inflation figures fell to a four-year low of 0.5% today. As a result, this left many Sterling traders concerned for the British economy’s ability to recover in the month’s ahead.
Meanwhile, doubts have begun to grow over Brexit after German government documents, dated mid-June, revealed that there had been warnings to the European Union to prepare for a UK-EU no-deal Brexit.
However, the document also stated:
‘The situation is less serious...
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...
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...
US Dollar (USD) Rises on Safe-Haven Demand as Global Trade Tensions Flare-Up
Published: 14 May at 5 PM 2020
The Pound (GBP) remained subdued today as the UK’s economic outlook continues to dim as the coronavirus pandemic continues to hold back key sectors of the British economy.
Today also saw news from the ONS that nearly half of UK firms could run out of money within the next six months. As a result, this sparked off further fears for the British economy as lockdown measures hold back many businesses from running at optimum capacity.
The Euro (EUR) has continued to...
Euro (EUR) Suffers as Eurozone Factories Suffer ‘Breath-Taking’ Collapse
Published: 5 May at 5 PM 2020
The Pound (GBP) struggled today after the latest UK Services PMI for April fell to record lows of 13.4. As a result, this left many Sterling traders for the health of the British economy going forward.
Tim Moore, the Economics Director at IHS Markit, commented:
‘April's PMI data highlights that the downturn in the UK economy during the second quarter of 2020 will be far deeper and more widespread than anything seen in living memory.’
Meanwhile, the UK’s car sales plummeted to record lows not...
Pound (GBP) Sinks as Boris Johnson Remains in Intensive Care
Published: 7 Apr at 5 PM 2020
<h3>Pound (GBP) </h3>
The Pound (GBP) struggled today following Prime Minister Boris Johnson’s admittance to hospital last night, which soon escalated to him being moved to intensive care.
Consequently, Sterling investors became jittery as the PM’s health remained in balance, despite Downing Street’s assurance that his condition remains stable. With the UK’s figurehead temporarily absent, however, this left GBP struggling to make any significant gains against its peers today.