Pound Strengthens On Unexpected GDP Growth Data
The British Pound seems poised to reach the end of the month on a stronger footing, having recorded gains versus the Euro, Dollar, and the majority of other currencies during the last week. The rebound from the substantial lows recorded
Read MoreSouth African Rand Declines as Fed Remains Hawkish
The South African Rand declined under volatile market circumstances ahead of the weekend, as experts repeated their pessimistic outlooks for the currency due in large part to the Federal Reserve’s (Fed) aggressive stance on interest rates. Only the British pound,
Read MorePound Hits Near Four Decade Low Versus US Dollar as Retail Sales Decline 1.60% in August
August retail sales in the United Kingdom declined at the fastest rate in eight months due to a growing cost-of-living problem and falling consumer optimism. The 1.6% loss was over three times the reduction projected by experts and illustrates the
Read MoreCanadian Dollar and Job Market Concerns
In August, Canada posted a loss of 39,700 jobs, supporting economists’ projections for a slump and a halt in the Bank of Canada’s rate rises. The information was issued on a day when the Canadian dollar was falling versus the
Read MorePound Poised for Further Decline
In accordance with recent research undertaken by HSBC, the UK economy is conditioned to devalue its currency in the long haul. HSBC argues that the UK economy does not have the wherewithal to bolster its currency over a multi-year period
Read MoreWells Fargo Forecasts Pound Weakness to Continue Until Late 2023
Wells Fargo said in their August financial technical report that they “As a consequence of the Federal Reserve’s hawkish stance, dollar momentum is expected to persist through the final leg of 2022. We now anticipate the dollar might reach its
Read MoreSouth African Rand Hits Near Yearly Lows
The South African Rand was approaching some of its worst levels in over a year prior to the weekend, as liquidation in the Chinese Renminbi and rebound by the US Dollar derailed a multi-week rebound and sparked a ferocious decline
Read MoreRussian Ruble Could Weaken in the Months Ahead as Economic Data Falters
As per the Bank of Russia’s macroeconomic forecast, the USD/RUB exchange rate is projected to average 70.4, 75.0, and 80.0 in 2023-2025. Presently, the USD/RUB exchange rate is at 60.50. Nevertheless, the most recent economic data shows that the ruble
Read MoreYen Marred by Dollar’s Uptrend as Robust Jobs Data Lifts US Bond Yields
Following seemingly jaw-dropping employment and salary numbers that seemed to entice an already aggressively hawkish Federal Reserve (Fed), and stunned US government bond rates to re-emerge the Japanese yen fell across the deck in the run-up to the weekend. Japan’s
Read MoreEuro Rallies on Strong Eurozone GDP Data
Due to inflation and GDP numbers that were higher than expected by the market on the last trading day of July, the euro appreciated against the dollar. According to figures from Eurostat, the Eurozone’s gross domestic product (GDP) increased by
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