Markets Gain Confidence
Fri, 28 Nov 08 06:00 am
Equity markets continue to rally internationally, buoyed by speculation of interest rate cuts in the UK, Eurozone and US next month. This has increased risk appetite internationally, weakening the US Dollar against its major currency partners and strengthening the Pound and Euro.
Sterling Strengthens on USD
Thu, 27 Nov 08 06:00 am
Sterling is higher against the US Dollar this morning, after the US announcement of an $800 billion plan to revive credit and mortgage markets yesterday. UK GDP figures released this morning show a 0.5% contraction in quarter 3 of 2008.
EU Approves Rescue Package
Thu, 27 Nov 08 06:00 am
The Euro has gained on the US Dollar after the European Union approved a €200 billion rescue package for the Eurozone yesterday. Sterling also continues to strengthen on the US Dollar this morning, despite UK GDP figures showing a 0.5% contraction in the third quarter yesterday.
Dollar Strengthens with Citigroup Rescue
Mon, 24 Nov 08 06:00 am
The Federal Reserve has announced a $20 billion rescue package for banking giant Citigroup this morning, strengthening the US Dollar along with equity markets. The UK awaits the Pre-Budget Report this afternoon which will detail government spending into 2009/2010.
Sterling Gains as Stocks Plummet
Fri, 21 Nov 08 06:00 am
Sterling has gained on the Euro and US Dollar as recession fears continue to plague markets. Stock markets took a further battering yesterday after oil dropped to below $50 a barrel amidst the worst US unemployment data in 16 years.
MPC Unanimous in Decision
Thu, 20 Nov 08 06:00 am
Minutes of the MPC meeting released yesterday revealed a committee unanimous in its decision to cut 1.5% of the base interest rate last month. Global stock markets took a dive yesterday triggered by a decline in Wall Street, as the FOMC painted a bleak picture of the US economy for 2009.
Markets await MPC, FOMC Minutes
Wed, 19 Nov 08 06:00 am
Currency markets await news of MPC and FOMC minutes released today after record declines in UK inflation capped the value of the Pound yesterday.
Sterling Recovers
Tue, 18 Nov 08 06:00 am
The Pound has recovered overnight against the Euro and US Dollar, as evidence of recession throughout the world takes the pressure off Sterling. Equity markets remain negative in tone as the G20 failed to provide a blueprint for recovery.
G20 Fails to Inspire
Mon, 17 Nov 08 06:00 am
The G20 meeting failed to inspire global markets with short term gains as leaders met in Washington over the weekend. Sterling has continued to decline overnight following the comments of George Osborne, who claimed he feared a Sterling collapse.
Pound Reaches Record Low against Euro
Fri, 14 Nov 08 06:00 am
The Pound has sunk to record lows versus the Euro, despite evidence of the Eurozone entering recession.
UK Unemployment at 5.8%
Thu, 13 Nov 08 06:00 am
Sterling is over 3% lower against the US Dollar overnight as the Bank of England’s Quarterly Inflation Report shows unemployment has risen to 5.8%.
Risk-Aversion Returns
Tue, 11 Nov 08 06:00 am
Sterling, Euro suffered yesterday as markets took another turn to risk-aversion in the wake of the announcement of the Chinese $586 billion rescue package.
Chinese Rescue Package Relief for Markets
Mon, 10 Nov 08 06:00 am
Sterling weakens overnight as China pledges $586 billion in a rescue package for its domestic economy.
Surprise 1.5% from MPC
Fri, 07 Nov 08 06:00 am
The Bank of England shocked markets yesterday, slashing interest rates by 1.5%, its largest cut in 15 years. The ECB followed shortly after with a 0.5% cut, as central banks set their sights on targeting recession.
Eyes to MPC, ECB
Thu, 06 Nov 08 06:00 am
Cautious markets are again subject to uncertainty and nervous investors this morning as the UK and Eurozone await interest rate decisions from their Central Banks. Negative domestic data in the US has led to a down turn in markets, erasing gains made by Obama's election victory.
Obama Takes Presidency
Wed, 05 Nov 08 06:00 am
Barack Obama made history this morning as the first black President of the United States. Having responded to calls for change, US voters turned out in record numbers to vote in their new President in a decisive victory. After suffering declines throughout the voting process, the US Dollar has strengthened this morning as markets gain confidence on the certainty of the result.
Cautious Stability for Markets
Tue, 04 Nov 08 06:00 am
Equities have made cautious gains this morning as central bank interventions seem to have stabilised markets. A series of important data this week should see major currency fluctuations.
Caution Reigns for Markets
Tue, 04 Nov 08 06:00 am
Sterling is lower against the Euro and the US Dollar this morning as uncertainty clouds the pending interest rate cuts on Thursday. Caution is also reigning in US markets as voters take to the polls for the Presidential Election.
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Today's Currency News
Markets are gearing up for an action-packed trading session, with key policy meetings of the BoE and...
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| US Dollars | 1.5846 |
| Euros | 1.1916 |
| Swiss Francs | 1.4432 |
| Australian Dollars | 1.4674 |
| South African Rand | 12.030 |
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