Robust US ISM Report Strengthens Greenback Against Pound
A crucial poll of the U.S. economy arrived in better than anticipated, causing the Dollar to recover prior to the weekend. The US ISM services PMI registered 55.1 in February, exceeding forecasts for a decline to 54.5 from 55.2 in
Read MoreSouth African Rand Weakens on FATF Greylisting
In unfavorable global market scenarios preceding the weekend and in response to a “greylisting” judgment by the Financial Action Task Force, the South African Rand trailed a number of comparable currencies (FATF). On Friday, the South African Rand fell against
Read MorePound Loses Momentum as BoE Hints Smaller Rate Hikes
The Bank of England (BoE) risks going overboard if it keeps raising the Bank Rate as rapidly as it has in recent months, according to its chief economist Huw Pill, who hints that he, too, may prefer a swing back
Read MoreCanadian Dollar Strengthens on Overwhelmingly Positive Canadian Jobs Data
GBP/CAD declined as a result of Statistics Canada’s announcement of a substantial rise in the labor force for January, which was comparable to the growth in non-farm payrolls witnessed across the frontier only last week. In January, Canada’s labor market
Read MoreUS Dollar Strengthens Against Pound on Solid Employment Data
Following the announcement of unexpectedly robust US data, the British Pound came under substantial pressure versus the Euro and the US Dollar just before the weekend. Regardless of a series of activity-restricting interest rate rises by the US Federal Reserve,
Read MorePound Sterling Tipped to Remain Supported by Credit Suisse Analyst
Analysts at Credit Suisse predict that the British Pound will stay reasonably well maintained versus the Euro and Dollar in the foreseeable future, partly in part due to signs that the UK economic prospects have strengthened, which should permit an
Read MoreEuro Signals Rebound as Market Expects Fed Rate Cut in Mid-2023
As per the recent study, the Federal Reserve is on track to reduce interest rates as soon as the middle of 2023, and as a consequence, the Euro will strengthen “substantially” versus the Dollar. As a consequence, TS Lombard, a
Read MorePound Sterling Strengthens on Signals of UK Economy’s Resilience
The British Pound climbed against the Euro and the US Dollar on Friday, as markets analyzed the first big UK data publication of 2023, which revealed that the UK economy surprisingly expanded in November. The ONS reported that the economy
Read MoreUS Dollar Declines on Weak Economic Data
The Euro to Dollar currency exchange rate surged to reclaim the 1.06 level ahead of the weekend after a diverse set of U.S. economic data, including another robust non-farm payrolls report accompanied by a significant drop in a key indicator
Read MorePound Signals Rebound after Intense Volatility
The Pound to Dollar exchange rate declined significantly in the last session of the week, capping a difficult time for the pound and numerous other currencies, although it seemed to be stabilizing beyond its 200-day moving average before the weekend.
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