Sterling of late has been on a poor run, having posted a near two cent loss against the Euro since late April and a near 7% loss against the US dollar in a little over 6 weeks. These losses have come about following lower inflation figures, weaker GDP and growth forecasts and the Bank of England keeping the base rate at 0.5% in May when many had forecast a rise from Governor Mark Carney at the central banks meeting a little over 10 days ago.
Sentiment for the pound has changed as a result but it wouldn’t take much to see some positivity and could this weeks retail sales figures be the shot in the arm the pound needs?
Unseasonably poor weather with the ‘beast from the east’ in March dampened the mood on the high street but the recent spell of better weather may have encouraged punters back onto the shop floors. Forecasts are for a reading of -0.1%, up from Aprils reading of -1.2%, but I have a feeling we could see an even better reading than forecast. Should this happen we could see a strong run for the pound this week.
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Good morning and welcome to a new week. In today’s post I’ll have a look at what happened last week to our 2 most commonly traded currency pairs, GBPEUR and GBPUSD, and have a look ahead to what data releases could affect the rates during the week ahead.
GBP/EUR managed to recover around a cent, but then seemed to Read More
Pound/Euro rates have settled in the low €1.14’s today. The main reason for the slight uptick in rates is solid jobs data from the UK yesterday, that came in as forecast. The numbers were good, and wages are now growing faster than inflation, so the UK economy continues to perform well.
In the Eurozone, inflation figures came in as expected earlier today. We did see a slight rise in GBP/EUR however, but this is Read More
In today’s post, I’ll take a look at the week ahead and what data releases could affect Sterling exchange rates. The main currency pairs I’ll be looking at include GBP/EUR, GBP/USD, GBP/CAD, GBP/AUD.
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GBPEUR rates have not fared well recently, dropping from Read More