Post Tagged with: "Martin Weale"

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. There was speculation that the minutes would reveal that one or more members had voted for a rate hike already at this August meeting. Martin Weale was singled out as a candidate for voting against the majority.

GBP/USD was emerging from the lows towards the publication. It touched 1.66 earlier and stood on 1.6630 in the second before the event. The British pound is moving higher, with cable standing at 1.6670 at the moment– more coming –

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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

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