Post Tagged with: "Mark Carney"

GBP: Markets react to rumours around Carney predictions

Risk sentiment waned on Monday last week as violence in Gaza escalated and geopolitical tensions intensified following the Malaysian airways crash.  There were also some rumours doing the rounds on Friday that BoE Governor Carney gave an interview to a weekend paper in which he appeared dovish on monetary policy.  It turned out to be a false rumour – he didn’t give an interview – but GBP/USD fell to a low of 1.7037 from 1.7115 on the whispers.

The pound then dropped again after the Bank of England minutes showed that MPC members voted unanimously to keep interest rates on hold at their last meeting.  The Committee also said that they had no pre-set view on the timing for a rate rise and it will depend on data.

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MPC remains unanimous on rates, but ups the ante – GBP/USD dips

MPC remains unanimous on rates, but ups the ante – GBP/USD dips

The UK Monetary Policy Committee remained unanimous on its decisions. No member voted for a hike, not this time. However, some members say that the danger of a rate hike derailing the recovery has receded. This is a hawkish note. GBP/USD was moving higher towards the publication, reaching above 1.7090 from around 1.7060 earlier in the [&hellip

Forex Weekly Outlook July 14-18

Forex Weekly Outlook July 14-18

The yen managed to gain some ground in a week that saw some fear return to the markets. What’s next for currencies? Public appearances from Yellen, Draghi and Carney, rate decisions in Japan and Canada and plenty of important US figures are the highlights of a busy week. Market movers on our calendar for this week. Here is [&hellip

Strong pound for Carney’s anniversary

Strong pound for Carney’s anniversary

Mark Carney celebrated one year in charge of the BOE this week, and the markets treated us to a week of fresh highs to celebrate. GBP/USD proved to be the one to watch as it tested 6 year highs to push north of 1.7150 following a strong manufacturing figure from the UK. Manufacturing surged at [&hellip

GBP/USD marks lower high on Carney and GDP

GBP/USD marks lower high on Carney and GDP

GBP/USD marked a lower high and is now retreating. While the pair is still trading above 1.70, it seems unlikely that it will challenge the fresh multi-year high of 1.7063. Yet again, BOE governor Mark Carney is partially responsible for the move, but also the data is not upbeat enough for cable to ride on the weakness of [&hellip

Do central bankers know what they’re doing?

Do central bankers know what they’re doing?

Market View – MahiFX It’s quite common these days for central bankers to say something, even quite boldly, and soon after contradict themselves sending the currency in a completely different direction. Is it currency manipulation at work or something far bigger? This week it was Mark Carney’s turn, the Bank of England governor, to wrong [&hellip

Dovish Federal Reserve weakens USD, BOE spreads confusion

Dovish Federal Reserve weakens USD, BOE spreads confusion

Last Wednesday evening, a more dovish than expected Federal Reserve weakened confidence in the USD. Although the Federal Reserve continued to taper their Quantitative Easing stimulus by a further $10bn, the US central bank surprisingly downgraded their economic growth projections for 2014. Beforehand, speculation emerged that the Federal Reserve would actually upgrade economic projections during [&hellip

EURGBP Breaks Higher Post Mark Carney’s Remark

EURGBP Breaks Higher Post Mark Carney’s Remark

The Euro finally traded higher against the British pound, and cleared an important resistance zone during the speech of the Bank of England’s Governor Mark Carney. The most important point to note from his speech was the stress regarding the dependency of the first rate hike and incoming data. He stated that the rate hike [&hellip

GBP/USD drops 50 pips and loses 1.70 on dovish BOE comments

GBP/USD drops 50 pips and loses 1.70 on dovish BOE comments

The BOE giveth, the BOE taketh away: fresh comments from the members of the Bank of England in a testimony hit the pound on the head. Carney says that the recent sterling strength is not supported by better competitiveness. Bean sees a case for a rate hike later than sooner. These are just the highlights. GBP/USD [&hellip

Dovish Fed, Hawkish BOE squeeze GBP/USD higher

Dovish Fed, Hawkish BOE squeeze GBP/USD higher

The big news last week was Wednesday’s US Federal Reserve (Fed) monetary policy announcement, which was a touch more dovish than markets had expected. Consensus was that Fed Chair Janet Yellen would follow Bank of England (BoE) Governour Mark Carney’s lead and hint a rate hikes in the late 2014. That however was not the case. [&hellip