The British Pound retreated along with the rest of the majors against a broadly firmer dollar Friday. The move comes as a follow through to Thursday’s earlier drop and in response to the UK’s own retail sales data that showed a sharper contraction at 1.2% againts an -0.6% consensus forecast basically confirming that largely expected…
A strong read in UK CPI saw the British Pound break through its consolidation from the start of the week, pushing to a new one year high. Both headline and core annualized CPI turned out firmer than expected at 2.0% and 3.5% potentially pushing out the exptec rate cut this August to the next BoE…
The British Pound remains one of the biggest beneficiaries on changing perceptions over US inflation and rates managing to see two year highs against the US Dollar and Euro. Note we will be seeing the next critical data for the US Tuesday with Retail Sales on the line and should we see weak numbers likely…
The British Pound has been one of the major beneficiaries of the perceived turn on sentiment by Fed Chairman Jerome Powell from last week. In the span of a week the currency has seen almost the full range of price action from June, coming up just a little bit short of the high for the…
Market players were largely caught off guard with how the dollar responded to a weak read in US ISM Manufacturing numbers, falling short of consensus at 48.5 against hopes of an improvement to 49.2, a contraction still yet less so. For today we have little of note coming out of the UK with market players…
The British Pound was mostly weaker against the rest of the majors with the exclusion of the Yen as market players look for every excuse to argue an August rate cut and more. Though largely seen as second liner data the Confederation of British Industries Realized Sales figure came out sharply lower, contracting instead of…
The British Pound sold off Thursday following the BoE MPC decision to keep rates steady and signalling a rate cut in the next meeting, in August. With the Bank of England largely seen ahead of the Fed in the easing cycle bias for the currency will remain on the sell side as we have clearly…
Today’s CPI release from the UK is seeing more interest than usual as the consensus forecast calls for the figure to fall back into the target of 2.0%. Should we get things as expected then it would suggest that expectations of a rate cut in August will push through. Fail to push to zero and…
The Bank of England is largely expected to keep rates steady in its MPC meeting Thursday with expectations largely calling for a rate cut only in August. Current expectations aside however the latest CPI figures will likely provide guidance for the market, consensus forecast calls for a return to the target rate of 2.0%, failure…
The British Pound was a big gainer on the knee-jerk response to weaker than expected US CPI. However the Fed was clear about its stance on the need for more data and market is speculating about a mere single rate cut for 2024 by the US should labor markets remain robust and inflation persistent. In…