Tag Archives: GBP
GBP ANALYSIS
Opened early Europe at $1.5668 stg0.8367 GBP closed in NY at $1.5663, off extended session highs of $1.5700. Rate marked overnight lows into early Asian dealing at $1.5660 before picking up fresh demand which allowed rate to track EUR/USD early rise to $1.5684.
Europe – still in search of the Holy Grail?
In what has become an extraordinarily quiet final period of 2011, there have been a number of developments that will leave their mark on financial markets for a long time to come.
HSBC: Currencies: Currency Weekly: Sterling’s new-found stability
Trade weighted stability for sterling means that it has become constrained within relatively tight ranges against both USD and EUR, suggesting this is a good time for hedgers to act. Loose monetary policy and tight fiscal policy would usually be a recipe for currency weakness. Why is GBP stable?
FX DAILY STRATEGIST: Europe – 10 October 2011
Fitch pulls the rug from payrolls rally; Merkel-Sarkozy delivers little, but tone sees market retain optimism: A better than expected September US payrolls report took risk up and the dollar further down Friday, EURUSD making a new weekly high above 1.3500, only for the move to be more than reversed by Fitch’s ratings actions against […]
FX Daily Strategist Asia – Thu Sep 1
JPY stronger on fixing demand, BoJ spent Y4.51tn on August 4 Month-end fixing flows and the risk of being whipsawed acted as a deterrent to position taking Wednesday. In the event, the JPY was the recipient of most attention, USDJPY running up into the 4pm London (WMR) fix only to drop 40 points immediately in […]
Looking for signs of growth
For a moment there, it looked as through all it would take for EUR/USD to break free above 1.45 was SPX to hold 1200. Just when EUR/USD was threatening to make a run for it out of its trading range, along came two stories to send it crashing back into neutrality. Firstly, the US equity […]
Preview: MPC minutes unlikely to have a large impact on GBP
The minutes from the August meeting are released today at 9:30. What is likely to matter for GBP is the extent to which the policy rate vote and content of the discussion reflects the more dovish Inflation Report. We expect no new information to be forthcoming in the minutes, with no change in the policy […]
GBP LOWER POST UK MPC MINUTES
And Futures have moved 7 tics on it Vote : 7-2 as expected….for BoE. Some members saw the need for more bond purchases (QE). It is also worth noting that Weale and Dale suggested the growth outlook was weak.
HSBC: Currencies: Currency Weekly: GBP – between a rock and a hard place
GBP is caught in the crossfire between negative developments surrounding the EUR and USD. When Eurozone sovereign risk is dominating market focus, GBP outperforms the EUR but underperforms the USD.