The pound dropped to a fresh year low against the USD at the end of last week's trading sessions as the Deputy Governor of the Bank of England, Dave Ramsden, highlighted easing price pressures in the UK. This could suggest that he has become more open to the possibility of an interest rate cut sooner...
The latest GDP growth data for the UK was released on Friday. It shows that the UK economy grew 0.1% in February and 0.3% in January (revised up from the 0.2% reported previously), which could indicate the UK economy is rebounding from its technical...
UK month-on-month GDP growth data is expected to fall from last month's figure but still show that the UK economy is growing when it's released this Friday. Forecasts expect GDP to show the economy grew 0.1% in March, which could indicate that the worst may be over from the impact of high interest rates...
Sterling was on the back foot last week and saw losses against most G10 currencies. Soft data releases were the primary trigger alongside a risk-off mood in the markets, which does not favour the riskier pound against more resilient currencies like the US dollar. Last week's UK CPI inflation data came out 0.1% lower than expected on...
The Bank of England is meeting for its second rate decision of the year at midday this Thursday 21st March. Markets are currently predicting a less than 1% chance of a rate cut, making it very unlikely. Last time round is for this split to repeat, although some expect the vote to fall closer to a unanimous outcome, forecasting 0-8-1. If we do see this more dovish split...
Last week, GBP held a solid footing following Chancellor Hunt's Spring Budget on Wednesday. The major announcements of changing the non-dom tax scheme and reducing National Insurance were 'leaked' in the days leading up to the Budget, which meant the market reaction was muted – a definite tactic of the Treasury, who are still haunted by the mini-budget that crashed...
Last week, there was little volatility between the sterling and euro, with the exchange rate range fluctuating just 40 pips (0.004 cents) between its peak and trough. Towards the end of the week, we saw a very gradual decline from the pound, which could point to some potential concerns surrounding the UK budget, which Chancellor Jeremy Hunt will...
Thursday last week, the latest data from the UK's Manufacturing and Services Purchasing Manager's Index (PMI) was released. This is an important indicator for investors who will be looking for signs as to whether the situation is improving in the UK following a...
Last week was a tough data week for the UK economy. The average earnings, excluding bonuses, were up 5.8% year-on-year for the previous three months of 2023, UK inflation held at 4%, which is still double the target rate, and GDP for Q4 showed that the UK was in a technical recession in the second...
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