Sterling steadies after worst week in 9 months versus euro
Jul21

Sterling steadies after worst week in 9 months versus euro

  Sterling steadied on Friday but was on track to record its worst week against the euro in nine months, with the single currency rallying across the board on bets that the European Central Bank was on track to tighten monetary policy next year. The pound sank to an eight-month low of 89.91 pence earlier in the day, extending the falls of the previous day after ECB chief Mario Draghi said possible changes to the central...

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UK’s public sector posts rise in borrowing by 8.6%
Jul21

UK’s public sector posts rise in borrowing by 8.6%

The update of net borrowing figures of Great Britain’s public sector, excluding banks, revealed a gap of £6.9 billion for last month. The report published on Friday by the Office for National Statistics showed the volume rose 43.8% on an annual scale, but it came in 90.1% lower than in May, the second month of the financial year. The cumulative rise in the net budget deficit measure grew 8.6% from the same three months of last...

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Nort Korean economy grows 3.9%: report
Jul21

Nort Korean economy grows 3.9%: report

Analysts from the Bank of Korea from Seoul estimated the economy of the country’s northern neighbor reached the fastest pace of expansion in 17 years, Yonhap reported. The rate of 3.9% for last year marked a rebound from 1.1% growth from 2015, when the regime of Kim Jong-un faced a severe drought, the report said. North Korea doesn’t publish its own data. Mining output added 8.4%, while heavy industry and the chemical...

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UK’s public sector posts rise in borrowing by 8.6%
Jul21

UK’s public sector posts rise in borrowing by 8.6%

The update of net borrowing figures of Great Britain’s public sector, excluding banks, revealed a gap of £6.9 billion for last month. The report published on Friday by the Office for National Statistics showed the volume rose 43.8% on an annual scale, but it came in 90.1% lower than in May, the second month of the financial year. The cumulative rise in the net budget deficit measure grew 8.6% from the same three months of last...

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ECB wants to avoid abrupt tightening, Draghi says
Jul20

ECB wants to avoid abrupt tightening, Draghi says

The European Central Bank will stay in the market “for a long time,” said Mario Draghi, its president. Speaking to reporters after the monetary policy meeting on Thursday, he also stressed the institution wants to avoid an “unwanted tightening of conditions” which would clog up recovery, signaling once more rate-setters are determined to stick to easing measures. The Eurozone’s top policymaker expressed...

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US initial jobless claims fall by 15,000 to 233,000
Jul20

US initial jobless claims fall by 15,000 to 233,000

United States initial jobless claims for the week ending July 15 decreased by 15,000 to 233,000 compared to the previous week’s revised level of 24,000, the US Department of Labor reported on Thursday. The four-week moving average was down 2,250 to 243,750 from the previous week’s revised average of 246,000. The insured unemployment rate for the week ending July 8 stood at 1.4%, unchanged from the previous week’s unrevised...

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ECB maintains rates, says willing to extend QE
Jul20

ECB maintains rates, says willing to extend QE

Benchmark interest rates in the Eurozone will be left unchanged, the Governing Council of the European Central Bank decided on Thursday. The statement published by the monetary authority added the tool for main refinancing operations remains at zero, while that rates on the marginal lending facility and the deposit facility stay at 0.25% and a negative 0.4%, respectively. In its statement, regarding the widely watched stance on asset...

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Asia markets trade in the green after BoJ meeting
Jul20

Asia markets trade in the green after BoJ meeting

Asia markets traded in the green on Thursday after the Bank of Japan opted to keep its monetary policy unchanged and forecasted inflation at 1.1 percent in 2017, below its 2 percent target. The BoJ raised its forecast for growth for the current fiscal year to 1.8 percent after its two day meeting. Japanese Nikkei 225 gained 0.61% at 5:48 am CET. The dollar strengthened 0.12% against the yen, to go for 112.11 at 6:09 am CET....

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EU’s Katainen: Financials, rights, borders start Brexit
Jul20

EU’s Katainen: Financials, rights, borders start Brexit

The European Commission’s vice president for jobs, growth, investment and competitiveness urged representatives of the administrations in Brussels and London to move fast in negotiations about the United Kingdom’s departure from the bloc. Although it is difficult to forecast anything, it is important to come up with solutions for financial issues, citizens’ rights and borders, so that the “future...

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Retail sector in UK posts 0.6% rise for June
Jul20

Retail sector in UK posts 0.6% rise for June

Retailers partly reversed a monthly fall in volumes and added 0.6% last month, the Office for National Statistics of Britain said on Thursday. The figure compares to a negative reading of 1.1% for May, revised 0.1 percentage points higher. However, annual growth has accelerated to 1.9% from the 0.9% measured in the previous update, new data showed. The pound returned most of its losses after reaching the lowest point this week, and...

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GBP fundamentally bearish in the long term
Jul19

GBP fundamentally bearish in the long term

Since the announcement of the snap election by Theresa May in April, we have seen a surge upwards across all GBP pairs.  This week we saw GBPUSD made a new higher high, reaching 1.3125, the highest its been since the 22nd of September 2016.  Structurally and technically GBPUSD remains bullish with no clear sign of a reversal and trend change yet, however there are large list of fundamental factors which could negatively affect the GBP...

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Eurozone Economic Outlook
Jul19

Eurozone Economic Outlook

As seen by the economic indicators the last couple of months the Eurozone recovery is tarting in a very slow pace. Maybe its not across all the 19 countries since we still cant compare the unemployment of Spain and Greece with the busy workers in Germany but it is a start. The numbers look generally positive the same time that China is shaking and financial markets are deranged. Economic growth reached the 1.6% in the third quarter....

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