Latest 10 news items tagged Usa
Lack of UK and US Optimism Leaves Sterling and US Dollar Outlooks Gloomy
Published: 13 Aug at 4 PM 2020
Pound Sterling (GBP)
As yesterday’s UK growth rate data did little to surprise Pound investors, the Pound spend much of today being driven by rival currencies. Sterling remained lower against stronger currencies, but was able to rebound against weaker rivals like the US Dollar despite UK growth concerns.
This week’s notable UK data has all been published. This will leave Pound investors reacting to UK coronavirus and Brexit developments as they await next week’s UK inflation results.
Pound (GBP) Rises, BoE States British Economy Better-Than-Expected Despite Covid-19
Published: 6 Aug at 5 PM 2020
The Pound (GBP) rose today after the Bank of England (BoE) held its interest rate at 0.1%. However, the BoE also stated that Britain had fared better-than-expected from the Covid-19 crisis.
In other UK economic news, today saw the release of the UK construction PMI for July, which beat forecasts and rose from 55.3 to 58.1. As a result, GBP investors have become more optimistic that the construction sector could be on the road to recovery.
The Euro (EUR) benefited...
Euro (EUR) Rises as Hopes Grow for EU Covid-19 Relief Fund
Published: 20 Jul at 5 PM 2020
The Pound (GBP) held steady today despite growing fears for Britian’s retail sector after the retail giant Marks & Spencer announced that it would be slashing jobs due to the Covid-19 crisis. As a result, GBP investors have become increasingly jittery as the economy struggles.
Meanwhile, a study by the accountants Deloitte revealed that 65% of finance directors believed the threat of the coronavirus pandemic and Brexit could severely limit the British economy.
GBP struggles as the UK’s...
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...
Sterling Ends the Week Higher but Worsening Coronavirus Fears Taking Market Focus
Published: 10 Jul at 4 PM 2020
Pound Sterling (GBP)
The Pound saw yet another week of recovery over the past week. Hopes for Brexit developments and some reaction to UK fiscal stimulus plans helped Sterling to firm a little higher. Hopes that UK economic activity will improve as more of the economy reopens is also supporting the currency.
No notable UK data will be published on Monday, but it will be a busy week for UK data overall. Of course with July almost half way over, Brexit negotiations could also come into new focus for GBP/
Strong US Non-Farm Payroll Reports Bolsters Market’s Appetite for Risk
Published: 2 Jul at 5 PM 2020
Pound Sterling (GBP)
The Pound held its ground today after advancing yesterday. Speculation that there could be Brexit developments in the coming weeks, as well as higher market appeal for taking risks, is helping the Pound to hold its advances.
Britain’s final June services and composite PMIs will be published tomorrow. Even if the data beats forecasts though, Sterling’s appeal could be limited by coronavirus jitters looming over the outlook.
The Euro continues to see fairly resilient movement...
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...