Market Pulse - Currencies
FX round-up: Range bound sterling sees strong demand heading into end of month fix
Sterling moves on Monday were fairly lacklustre for much of the day due to a mixed bag of medium impact news, ahead of what is sure to be a volatile week.
FX round-up: No change at the Fed adds to dollar weakness
The release of the FOMC statement overnight saw a rise in cable on Thursday, although the Fed brought little in the way of surprise with regards to their stance on key interest rates, which were left unchanged at 1. 25%.
FX round-up: Euro trades at two-year highs aided by continued dollar weakness
Currency movements in Tuesday's session were a little more exciting than they were at the start of the week, with sterling up against the dollar and the euro following suit, with EUR/USD trading at two-year highs.
FX round-up: Slow news day pushes dollar index higher, euro moves fail to excite
News of any major impact was a bit thin on the ground on Monday, leading to subdued moves on the FX market.
FX round-up: Lack of data release makes way for indecisive Cable moves
On Friday sterling managed to recover most of its losses against the US dollar from prior session posting a morning high of 1. 3020, only managing to touch psychological resistance of 1. 3000 briefly.
FX round-up: Positive retail sales figures fail to excite GBP traders
Figures released by the Office of National Statistics this morning showed an increase in month-on-month UK retail sales, with a print of 0. 6% and year-on-year sales at 2. 9%. Both figures beating market forecasts of 0. 4% and 2. 5%, respectively.
'We're not there yet, financing conditions favourable' ECB's Draghi says
"We're not there yet", European Central Bank chief Mario Draghi said in his press conference when asked whether monetary policy needed to remain as accommodative as it was.
FX round-up: Calm ahead of ECB, BoJ storm?
A fairly quiet day of trading was seen today with a string of medium impact data released from the U. S. with the main focus being on housing and building.
Broker tips: Hunting, Royal Mail, AA
Analysts at Morgan Stanley downgraded their recommendation on shares of Hunting and cut their target price, telling clients consensus was too upbeat about the prospects for activity in the oilfield services space and hence the company's top-line growth.
Euro area construction output falls in May
Construction output in the single currency bloc shrank in May, led by declines in almost all the major economies, save Italy.
China economic growth steady in second quarter
Economic growth in China was steady over the second quarter of the year, official data revealed.
FX round-up: US data-dump downs dollar, euro dips on taper angst
The dollar concluded a bad week with disappointing consumer price inflation reducing expectations for a rate hike this year, while the euro fell versus the pound on reports the European Central Bank will soon begin tapering its asset purchase programme.
ECB keen to keep QE-programme open-ended, report says
The European Central Bank is wary of setting a predetermined end-date for its asset purchase programme, preferring to keep it open-ended and dependent on the incoming economic data.
Micro Focus share price drop is an opportunity, Barclays says
Barclays believes recent share price weakness in Micro Focus is an opportunity.
A falling dollar lifts all commodities
Commodities traded on the frontfoot as the US dollar gave back some ground following remarks from German chancellor Angela Merkel (and ahead of a key speech from US central bank chief Janet Yellen the next day) alongside supportive newsflow for various specific segments of the market.
FX round-up: Pound slips as BoE's Broadbent steers clear of rate talk
Sterling dipped on Tuesday after Bank of England deputy governor Ben Broadbent steered clear of any talk about interest rates at an eagerly-awaited speech in Aberdeen.
IEA calls for more investment in upstream oil and gas
Investment in the global energy sector fell again in 2016, prompting the rich world's energy watchdog to warn that more needs to be done, especially in the Oil & Gas space, to ensure future supplies.
China June CPI misses forecasts, disinflation a possible concern
Price pressures in Asia's largest economy steadied last month but economists appeared to be in broad agreement that inflation was set to slow further.
FX round-up: Listless sterling suffers amid Independence Day malaise
Sterling spent Tuesday essentially listless thanks to the US Independence Day holiday casting a pall of malaise over global financial markets.
RBA says indicators of labour and housing markets mixed, Aussie drops
Australia's central bank kept its main policy rate unchanged despite a more buoyant outlook for growth overseas.