Post Tagged with: "Martin Weale"

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.  The pound then jumped further following the release of strong UK employment data on Wednesday.  The unemployment rate fell to 7.1% and GBP/USD broke higher through 1.65 as a result.

It then stalled ahead of 1.6550 as the Bank of England stated at the same time that there was no immediate need to raise interest rates should unemployment fall below 7%.  That said, this was still a big positive for the pound and GBP/USD went on to break through 1.6650 after US data printed weaker than expected on Thursday(home sales and manufacturing PMI).

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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

Forex Daily Outlook November 22 2012

Forex Daily Outlook November 22 2012

Flash Manufacturing PMI in Europe and Retail Sales in Canada are the major market-movers. Let see what awaits us today. In Canada, Retail Sales, show the value of all the sales at the retail level, rise of 0.2% from Octobers is likely up to 0.5% now, and similar is calculated in the Core Retail Sales [&hellip

Forex Daily Outlook June 28 2012

Forex Daily Outlook June 28 2012

Unemployment Claims in the US and Current Account in the UK are the major market-movers. Let see what awaits us today. In the US, Unemployment Claims, Measures the persons that filed for unemployment insurance for the first time, reduce of 2K from the last week is forecasted down to 385K now. Later in the US,  [&hellip

Forex Daily Outlook June 21 2012

Forex Daily Outlook June 21 2012

Unemployment Claims in the US and Retail Sales in Canada are the major market-movers. Let see what awaits us today. In the US, USD, Unemployment Claims, value the unemployment insurance that was filed for the first time on the last week, due to drop by 5K down to 381K Later the US, Philly Fed Manufacturing [&hellip

Forex Daily Outlook May 17 2012

Forex Daily Outlook May 17 2012

Philly Fed Manufacturing Index is the major market-mover. Let see what awaits us today. In the US, Unemployment Claims, Value the individuals that filed for the first time for unemployment insurance on the last week, rise is predicted from 367K up to 370K this week. Later in the US, Philly Fed Manufacturing Index Survey of [&hellip

Forex Daily Outlook February 29 2012

Forex Daily Outlook February 29 2012

Prelim GDP and Fed Chairman Bernanke Testifies in the US are the main events today.  Here is an outlook on the market-movers awaiting us In the US, Ben Bernanke, Federal Reserve Chairman is about to testify in Washington DC. More in the US, Prelim Gross Domestic Product (GDP),the  widest quarterly measurement of monetary activity that [&hellip