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Category Archives: Currency Reports

Daily Currency Report 2016-12-23

USD The Dollar strengthened yesterday afternoon on news the US economy grew faster than initially thought in the third quarter, notching its best performance in two years, amid solid consumer spending and a jump in soybean exports. Gross domestic product increased at a 3.5 percent annual rate instead of the previously reported 3.2 percent pace. Output was also lifted by upward revisions to business …

Daily Currency Report 2016-12-22

EUR The Italian tax payer will likely rescue Italy’s third largest lender, Monte dei Paschi, by the end of next week, with the rescue funds to be used to prop up other banks as well. Earlier, Monte dei Paschi revealed that it could run out of funds by next April, using up nearly €11bn (£9.2bn). Previously it had said it had the funds to …

Daily Currency Report 2016-12-21

GBP Brexit news dominated the headlines yesterday after Theresa May indicated MP’s in Britain would not be given a vote on the final deal negotiated by the government after two years of talks with representatives of the other 27 countries in the EU. May refused to commit to giving MP’s a vote on the final deal when she was questioned repeatedly about the issue …

Daily Currency Report 2016-12-20

GBP Scotland will hold a new referendum on separations from the UK unless it can stay in the European Union single market, said First Minister Nicola Sturgeon. Sturgeon will detail proposals for a new arrangement with the U.K. to enable her country to remain inside the single market after Brexit, even if the government in London pulls England, Wales and Northern Ireland out. Voters …

Daily Currency Report 2016-12-19

EUR Prices in the eurozone creeped up again in November, according to the latest inflation figures released Friday morning. Consumer price inflation, came in at 0.6% year-on-year in November, matching the earlier flash estimate provided. Representing  a 0.1 percentage point increase from October, when inflation read 0.5%. Inflation now sits at a level not seen for more than two years, the Highest level since …

Daily Currency Report 2016-12-16

GBP Yesterday afternoon the Bank of England’s monetary policy committee (MPC) unanimously voted to hold interest rates at 0.25% and warned a slowdown in growth was still likely following the Brexit vote, although it added inflation will not rise as much as it had forecast. Carney revealed in the December meeting there will be “limits” to the extent the Bank of England will tolerate …

Daily Currency Report 2016-12-15

USD The dollar was the main focal point of trading yesterday as market participants were anticipating an interest rate hike by the Federal Reserve for the first time this year. Janet Yellen delivered on the expectation which was widely priced in to raise interest rates by 25 basis points to 0.75%.  The Federal Open Market Committee cited “realised and expected labour market conditions and …

Daily Currency Report 2016-12-14

GBP The Pound strengthened yesterday morning after the UK’s inflation rate beat expectations and rose to 1.2%, driven up by hikes in clothing prices, motor fuels and a “variety of cultural goods and services”, according to the Office for National Statistics (ONS). However, food and non-alcoholic beverages pulled inflation down. The ONS said it was the first time since mid-2014 that all non-food categories …

Daily Currency Report 2016-12-13

GBP Sterling edged up on Monday, recovering some ground lost last week as investors braced for what is shaping up to be a busy week with the latest top-tier UK economic data releases and Bank of England policy meeting. Britain’s benchmark 10-year government bond yield rose to 1.50 percent on Monday for the first time since May, and the two-year spread over comparable German …

Daily Currency Report 2016-12-12

GBP UK Consumers expect a steep rise in inflation over the coming year following the sharp drop in the value of sterling after the UK voted  vote to leave the European Union. Consumers also believe a hike in interest rates are inevitable a Bank of England survey showed. The survey published showed average public inflation expectations over the next 12 months rose to 2.8 percent …

Daily Currency Report 2016-12-09

EUR Yesterday afternoon the Euro lost ground when European Central Bank president Mario Draghi extended their mammoth money-printing programme until December 2017, after originally being scheduled to finish in March. The current Quantitative Easing programme pumps an extra €80bn into the Eurozone each month which will be reduced to €60bn from April until the programme ends. Draghi promised to amend the programme if the …

Daily Currency Report 2016-12-08

GBP Sterling posted its biggest slide in two months on Wednesday after poor British industrial output data added to the sense that a month-long recovery in the currency may have run its course. The weak performance by manufacturers may raise doubts about how much of a boost factories are getting from the big fall in sterling since Britain voted in June to leave the …