Currencies Direct

Yesterday the main focus was on the Bank of England’s policy meeting and US inflation data. They were both non-events, as the BoE kept policy measures unchanged, although the statement that followed focused on the recent appreciation in Sterling, as it is expected to limit the inflationary pressure relative to the target in the medium […]

In keeping with market expectation, the US Federal Reserve has increased interest rates by 0.25% buoying up the Greenback. Fed Chair Janet Yellen has finally shown some optimism on the US economy by signalling that the Federal Reserve will increase rates 3 times next year and that the US economy does not need to rely […]

For the second day running, currency markets have traded within narrow ranges. We’ve also continued to see Sterling gain some positive momentum against the euro, US dollar and most other currency pairings. Meanwhile, EUR/USD has struggled, and seems to be unsure of its true trend for the week, as it continues to yo-yo. Today, the […]

Today, the UK publishes one of its most scrutinised piece of data before the Christmas closure, the Consumer Price Index. With expectations of a rise to 1.1%, the pound could see gains this morning, although the US interest rate rise expected tomorrow may claw back Tuesdays gains & cause market volatility. The long term plan […]

The euro remained under pressure heading into the weekend as traders continued to disseminate the outcome of last Thursday’s ECB Meeting with Mario Draghi’s dovish comments that the ECB would be active in the market for a long time to come not helping the cause. Also placing pressure on the downside were the ECB’s projected […]

The UK suffered a slump in figures for October’s manufacturing sector, which surprised the markets as investors were expecting a continual rise. The figures, which showed a 0.9% drop against September’s 0.6% rise, impacted GBP throughout the day and clawed back Sterling’s positive move upwards over the past week. Meanwhile, Theresa May is being pressed […]

Volatility following the Italian referendum has already calmed, although political uncertainty within Italy and Europe will continue to be a theme. So, we now shift focus to the ECB meeting taking place tomorrow afternoon. The ECB are expected to extend its QE programme by six months, and continue purchases at a level of 80bn per […]

Euro tested after Italian referendum The euro bounced strongly on Monday, after its initial knee-jerk reaction to Italy’s referendum and yesterday’s price action appears to have put in a near-term base. Cable however is still sitting higher, as it trades off the back of headlines coming from the High Court appeal over Brexit. That said, […]

President Elect Donald Trump has used Twitter to warn US companies about moving jobs overseas in the coming financial year, stating ‘35% tax on companies wanting to sell their products back across the border’. He took aim at US companies who want to produce products from outside the US, then sell them back into the […]

Sterling has opened this morning with huge gains, as Italian Prime Minister was somewhat destroyed in his attempt to reform the political structure. PM Matteo Renzi has resigned following the result, leaving the Italian political infrastructure exposed and not helping the debt positions the country currently has. The now Ex Italian PM, had promised to […]