This morning saw the release of UK PMIs, with Manufacturing coming in below forecasts at 47.3, while Services continued to show expansion and exceed forecasts at 51.4. UK jobs data is due at 7am on Tuesday. Although markets expect the unemployment rate to...
In its October 2024 Economic and fiscal outlook, the Office for Budget Responsibility's (OBR) GDP growth forecast was 1.1% in 2024 and 2.0% in 2025. By contrast, the Treasury's November 2024 survey of independent forecasts showed an average forecast of 0.9% for...
The pound has weakened against the dollar and other currencies following the release of the UK Gross domestic product for Q3 on 15 November. GDP for the period July to September showed growth of only 0.1%, significantly lower than the 0.5% figure in...
The pound has weakened against the dollar and other currencies following the release of the UK Gross domestic product for Q3 on 15 November. GDP for the period July to September showed growth of only 0.1%, significantly lower than the 0.5% figure in...
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
The 2024 US election could impact FX markets, with potential USD fluctuations based on the winning candidate's policies and possible contested results.
Despite the huge changes promised by Wednesday's Budget, including £76bn a year in new spending and a near record increase in taxes, the reaction of currency markets was initially controlled. But as the US election approached, we started to see a sell-off in both UK Bonds and the Pound, which are now viewed as a riskier asset...
Following the UK general election in July, the first Labour budget since 2010 has been highly anticipated. Despite the press attention, speculation around many of the budget's outcomes has already begun, so the FX market reaction may...
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