Sterling continues to surprise
Fri, 28 Aug 09 06:00 am
In an economy that seemed it could not get much worse, sterling has continued to surprise. With currency exchange rates for the pound resembling a slow moving car crash this week, the euro has streaked ahead like Usain Bolt, driven forward by evidence of recovery in the German economy. US sentiment is slowly but surely turning more positive, while international currency exchange rates remain sensitive to risk in the market.
Bolt blasts world record
Thu, 20 Aug 09 06:00 am
Commentators have been left awed this week as Usain Bolt smashed the world 100m record and Andy Murray became the first Brit ranked at number 2 in the world after cruising to victory in Montreal. Yet while most of the record breaking has been left to the track, we have also seen some new highs and lows in the way of financial data.
Blow to risk appetite
Mon, 17 Aug 09 06:00 am
Much like the elimination of Kevin Pietersen delivered a blow to England's Ashes campaign, the Fed's assessment of the US economy delivered a blow to risk appetite this week. Economists and investors were left wondering what was next for the global economy - and that was before the solar eclipse in Asia added to the confusion.
More twists than the Tour
Mon, 17 Aug 09 06:00 am
Foreign exchange markets are taking more twists and turns than Tour de France recently as the uncertain state of the economy means it is difficult to know what is around the next corner. This week has seen the musical chairs of the transfer season begin and the continuation of the Ashes at Lord's, which has helped some of us overlook the fact that the economy is plundering on, but someone seems to have forgotten the sat nav.
Sultans of spin
Mon, 17 Aug 09 06:00 am
While Michael Jackson's funeral and the government's new banking regulations seemingly have little in common, style triumphed over substance in both cases this week as key points were conveniently glossed over to provide something more palatable to the public. In contrast, financial markets have been much less spectacular as downbeat data has sent currencies to the lower end of trading ranges.
Seeds of recovery?
Mon, 17 Aug 09 06:00 am
As London bakes in the sun, the global economy has remained under a black cloud this week after the release of yet more negative economic data. While seeded tennis players are flourishing on the courts at Wimbledon and Murray appears to be on track for a Federer final, seeds of recovery are yet to take root in the wider economy with market confidence taking a knock this week.
Wimbledon warms up
Mon, 17 Aug 09 06:00 am
After the opening of Wimbledon this week it wasn't long before the Brits started dropping off the draw like flies in the heat. Now only Andy Murray remains and hopes for the Scot are as high as ever. Let's hope he can live up to the expectations as the UK economy certainly hasn't, with disastrous predictions from the OECD for economic growth this year.
Is England fit for recovery?
Mon, 17 Aug 09 06:00 am
It seems like sterling has taken cues from Freddie Flintoff recently, as sparks of brilliance in its performance have been undermined by general concerns about health. And like the cricketer, while the UK economy has shown promise recently, whether it is 'match fit' for recovery remains to be seen. The MPC seem to doubt it and have opted to expand with QE, though modest improvements in manufacturing and services sent the pound to 2009 highs against the US dollar.
Can the UK rise from the ashes?
Mon, 17 Aug 09 06:00 am
After the English cricketers crumbled against Australia in the fourth Ashes test, sterling seemed to follow suit with the pound crumbling against its currency partners early in the week as downbeat labour data reinforced the negative view of the UK economy. Whether the pound or the cricket team will rise phoenix like remains to be seen, leaving both economists and cricket fans with a nervous wait.
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