Post Tagged with: "Martin Weale"

UK unemployment falls to 6.2%, wages jump – GBP/USD sells the fact

UK data looks good, one day before the big referendum: the unemployment rate fell to 6.2%, average hourly earnings rose by 0.6% (both in July) and Claimant Count Change is down 37.2K in August. All the data is better than expected. The MPC Meeting Minutes showed a 7:2 vote against a rate hike, exactly like the previous month. The rise in wage inflation is really good news for the UK.

GBP/USD was already on the move higher and it is now reaching a bit more: 1.6333 is the new high. Update: the pair is now sliding: it seems like a case of “buy the rumor, sell the fact”. Nevertheless, it holds on to 1.63.

Read the rest of the article UK unemployment falls to 6.2%, wages jump – GBP/USD sells the fact
BOE leaves rates unchanged

BOE leaves rates unchanged

No change from the BOE, as expected. The Bank of England was widely expected to leave the interest rate unchanged at 0.50%, despite two members voting for a rate hike back in August. The Asset Purchase Facility was also expected to remain at 375 billion pounds. GBP/USD remained on low ground towards the publication, trading just above 1.6450. [&hellip

MPC Meeting Minutes Split 7:2 – GBP/USD leaps

MPC Meeting Minutes Split 7:2 – GBP/USD leaps

Two dissenters in the MPC: Martin Weale and Ian McCafferty voted for a rate hike. The 7:2 vote in the 9 strong Monetary Policy is a big change: it is the first time that somebody votes against Governor Mark Carney. This vote raises the chances of an early rate hike, perhaps as early as November. [&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

Martin Weale echoes Carney’s rate comments – GBP/USD recovers

Martin Weale echoes Carney’s rate comments – GBP/USD recovers

In the next MPC meeting minutes, we could see MPC member David Weale leaning towards the hawkish side. He echoes Carney’s comment that rates may rise sooner than expected. GBP/USD is reacting positively to this speech and recovers from 1.6935 to above 1.6950. He says that “May need to raise rates faster than markets anticipate”. [&hellip

This week in the markets: GBP rallies on strong employment data

This week in the markets: GBP rallies on strong employment data

By Alex Edwards at UKForex, an international money transfer service.It was announced on Tuesday that the IMF has raised its UK 2014 growth forecast to 2.4% (from the 1.9% announced in October).  It also raised its global growth forecast to 3.7% and the US growth forecast to 2.8% from 2.6% in October.  Cable rallied from 1.6410/15 to 1.6485.  [&hellip

This week in the markets: Aussie dollar is the biggest loser

This week in the markets: Aussie dollar is the biggest loser

By Jake Trask at UKForex, an international money transfer service Sterling started this week on a high after last week’s upbeat quarterly inflation report, with GBP/USD close to 1.61 and GBP/EUR above 1.19. MPC member Martin Weale said that the bank could not keep the base rate at 0.5% for too long and that increases in [&hellip

A Struggling Yen

A Struggling Yen

A reasonably quiet Asian session for the major currency pairs with JPY standing out as the exception. USDJPY continued its move higher pushing just over the 99 level. EURJPY traded to a 4 week high reaching 132.34 so far. Today’s opportunities in JPY may well come in the form of technical analysis rather than an [&hellip

Forex Daily Outlook May 17 2013

Forex Daily Outlook May 17 2013

We end this week with Prelim UoM Consumer Sentiment in the US and CPI in Canada as the major events of the day. Here is an outlook on the market-movers awaiting us. In the US, Prelim University of Michigan (UoM) Consumer Sentiment, Consumer’s Monthly Survey to rate the current and upcoming financial conditions, rise up to [&hellip

Forex Daily Outlook January 24 2013

Forex Daily Outlook January 24 2013

Unemployment Claims in the US and Flash Manufacturing PMI in Europe are the major market-movers. Let see what awaits us today. World Economic Forum (WEF) Annual Meetings (Day 2), central bankers, ministers and business leaders from more than 90 countries held an annual meeting in Davos. Open to the press and can create important market [&hellip