Latest 10 news items tagged Italy
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’...
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...
Euro (EUR) Rises as Eurozone Nations Cautious Reopen
Published: 15 Apr at 5 PM 2020
The Pound (GBP) put in a mixed performance today, with GBP rising against many of the risk-correlated currencies on hopes that the Government could conceded over pressures from Labour leader Keir Starmer to release plans to ease the lockdown, while it struggle against the Euro and the US Dollar.
Sterling remains under pressure from growing concerns for the UK economy after the OBR suggested that the UK GDP could fall by -35% in the second quarter.
Chancellor Rishi Sunak also said that he was...
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.
Pound (GBP) Rises as BoE Rate Decision Boosts UK Economic Hopes
Published: 27 Mar at 3 PM 2020
The Pound (GBP) edged higher against many of its peers in spite of Prime Minister Boris Johnson’s coronavirus diagnosis. Sterling’s gains owed themselves primarily to an improvement in investor sentiment, with the British currency continuing to act as a risk-sensitive asset.
GBP has also continued to benefit from the Bank of England’s (BoE) interest rate decision yesterday, which saw the bank hold rates at all-time record lows of 0.1%.
The Euro (EUR) struggled...
Euro (EUR) Sinks as Eurozone PMIs Contract
Published: 24 Mar at 5 PM 2020
The Pound to Euro (GBP/EUR) exchange rate rose by over 1% today, with the pairing currently trading around €1.08.
The Euro (EUR) suffered today after the publication of the flash Eurozone Composite PMI for March, which showed a significant decrease into contraction territory from 51.6 to 31.4.
Chris Williamson, the chief business economist at IHS Markit, commented on the report:
‘Business activity across the eurozone collapsed in March to an extent far exceeding that seen even at the height of the global financial crisis....
Euro (EUR) Sinks as German Economy on ‘Red Alert’
Published: 17 Mar at 6 PM 2020
The Pound (GBP) remained subdued against its peers today as UK economic recession fears grow amid the ongoing global coronavirus pandemic.
Today also saw the release of January’s UK ILO Unemployment Rate rise to a worse-than-expected 3.9%. However, as this was before the major Covid-19 pandemic, Sterling traders are feeling increasingly pessimistic that unemployment could spike in the coming months.
Capital Economists Chief Paul Dales commented:
‘With the peak of the virus yet to come, it is...
Canadian Dollar (CAD) Plummets as Oil Prices Slide by 10%
Published: 16 Mar at 5 PM 2020
<h3>Pound Sterling (GBP)</h3>
The Pound (GBP) edged higher today as hopes returned for the British economy as Downing Street appeared to take a firmer stance on the coronavirus epidemic.
Today also saw the release of the UK Rightmove House Price Index, which rose in March by 1%, while the year-on-year figure edged higher by 3.5%.
<h3>US Dollar (USD)</h3>
The US Dollar (USD) remained subdued against many of its peers after the US Federal Reserve cut its interest rates from 1.25% to 0.25% on Sunday. As a...
Canadian Dollar (CAD) Sinks as the Bank of Canada Slashes Interest Rates
Published: 4 Mar at 5 PM 2020
<h2>Pound Sterling (GBP)</h2>
The Pound (GBP) struggled against many of its peers today after the UK Markit Services PMI for February undercut forecasts and eased from 53.3 to 53.2.
The GBP exchange rate has also become beset by rising odds of a rate cut from the Bank of England (BoE), with the coronavirus outbreak threatening to weaken the British economy in the near-term.
<h2>US Dollar (USD)</h2>
The US Dollar (USD) recovered some of its losses today after February’s ISM Non-Manufacturing PMI beat...
US Dollar (USD) Slumps as Federal Reserve Unexpectedly Cuts Interest Rates
Published: 3 Mar at 5 PM 2020
<h2>Pound Sterling (GBP) Rises as Markets Expect BoE Rate Cut</h2>
The Pound (GBP) was able to make gains against a handful of currencies as the country’s trade talks with the European Union and expectations of a Bank of England (BoE) cut to offset Covid-19 damage.
The Pound also made gains after outgoing Bank of England (BoE) Governor, Mark Carney said he expected a ‘powerful and timely’ global response to the virus outbreak. Meanwhile, the British currency was barely moved on upbeat UK construction...