Category Archives: Financial News

Financial News

Sterling five month high

Posted on May 19, 2009 by admin

The pound has hit a five-month high against the US dollar this morning on the back of the view that recession is bottoming out in the UK. Anticipation of economic recovery has driven demand for the higher yielding currencies and both the pound and euro climbed against the dollar overnight. Continue reading →

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US Retail Slumps

Posted on May 14, 2009 by admin

The risk rally lost momentum overnight as US retail sales figures declined by 0.4% in April. US retail sales figures are a crucial to wider economic sentiment as they are directly related to business confidence and import levels. Weakened growth predictions from the Bank of England and negative industrial production figures from the eurozone also dragged exchange rates downwards for the “riskier” currencies.
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US unemployment hits 26-year high

Posted on May 11, 2009 by admin

The US unemployment rate has hit a 26-year high as the labour market shed 539,000 non-farm jobs in April. However despite the record figure, the upward trend in currency exchange rates and equity markets has continued with the pound and…

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Markets look to BOE

Posted on May 7, 2009 by admin

Currency exchange rates are likely to be subject to volatility today as interest rate decisions from the Bank of England and ECB are due. The results of “stress tests” on US banks are also due later in the day and this could affect exchange rates for all the major currencies. The Australian dollar reached a 12-year high against the pound overnight as positive figures from the US and buoyant Australian retail sales improved investor confidence.
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Pound hits Four Month Highs

Posted on May 6, 2009 by admin

The bullish trend in equities and currency exchange rates continues this week as both the euro and pound reached four month highs against the US dollar. Improved prospects of global recovery are encouraging the flow of funds away from safe havens and many of the “riskier” currencies are receiving a boost in exchange rates this week.
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Markets Hit Four Month High

Posted on May 5, 2009 by admin

Stock markets climbed to a four-month high in London this morning, as abating fears over swine flu and prospects of economic recovery improved appetite for risk. Recent PMIs released in the UK and Europe have shown the pace of recession is easing and this has improved market sentiment. Interest rate decisions from the ECB and Bank of England are due this week.
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UK economy contracts 1.9%

Posted on April 24, 2009 by admin

The UK economy contracted -1.9% in the first quarter of 2009, more than economists expected with record declines in the manufacturing and service sectors. This news has sent the pound plunging against the dollar and euro as investors also remain…

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UK budget released today

Posted on April 22, 2009 by admin

Foreign exchange markets will focus on sterling today with the annual budget released in the UK. Equity markets rallied overnight on the back of comments from US Treasury Secretary Geithner. This fuelled a bounce in currency exchange rates that failed…

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Euro at 5 week low

Posted on April 21, 2009 by admin

The euro is sitting at a 5 week low against the US dollar this morning as the single currency continues to be plagued by uncertainty surrounding ECB strategy. Larger than expected credit write downs at Bank of America yesterday reignited…

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Euro hits one-month low against dollar

Posted on April 20, 2009 by admin

The CBI has predicted the UK economy will contract by 3.9% in 2009, more than twice the amount predicted by Alistair Darling late last year. The euro has reached a one month low against the dollar amid concerns that the…

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