Despite an initial blip early in the day, the news of Moody’s rating downgrade for Greece had little overall impact on the euro, as the single currency continues to be supported by talk of higher interest rates from the ECB at its April meeting. The EUR hit a four month high against the dollar yesterday, breaking through $1.40, before consolidating just below this level later in the trading session.
Many see the single currency as on track to retest the highs of almost $1.43 seen last November, as it is …

We’re back to the exciting first Friday of the month and the market awaits this afternoons NFP and unemployment rates. Previously we saw just 36k increase in the NFP with a 9% unemployment rate. This low NFP was put down to bad weather in the States and now todays expectation is much higher at 185k increase in jobs. Off this forecast we have seen USD buying against the GB Pound this morning, with the pair dropping from the 1.62 highs. Note that the Euro is a different story following Tichets …

Major financial markets are reacting early Thursday (March 3) morning to word from the Arab League that it is seeking ways to end the crisis in Libya.
Heightened revolution and political tension in the Middle East has dominated global news during the last few months. It has also impacted speculation in many investment markets.
Gold prices moved past $1,440 on Wednesday, but have pulsed back to an early Thursday spot rate of $1,422.60 on the New York NYMEX. Oil prices have also dipped a bit. One barrel of light sweet crude oil …

Sterling rallied to a 13 month high against the US Dollar on Tuesday after stronger than expected UK economic data fuelled speculation that UK interest rates will rise well before those in other developed economies. Hawkish comments from Bank of England that inflation will remain high this year helped support the Pounds movement, reaching a high of 1.6328 in intra-day trading and a low of 1.6255 which now acts as support. Speculative traders are continuing to ‘short’ the US Dollar at present, mainly due to the dovish comments from Mervin …

Sterling is currently being sold off accross the Forex market as falling risk appetite dragges the risk sensitive currency lower. What is evident is the broad risk aversion in the markets at present is causing the Pound to be heavily sold against all 16 of its counterparts.
Sterling has fallen 0.7 percent to $1.6112, retreating from Wednesday’s high of $1.6275, its highest level since Feb. 3rd. The Euro has strengthened to 85.32 pence, its highest level in three weeks against the pound. The pound was further hurt by a …

This mornings MPC minutes reveal that Spencer Dale joins Andrew Sentance and Martin Weale voting to increase interest rates this month. The current rate is at a record low of 0.5 percent, Dale voted for a 25 basis-point increase. Interest rates have been a major focus in the market so far this year after inflation January data showed higher levels and last week it hit 4%. This is a clear indication that tightening may happen sooner. The market immediately reacted and we saw GBPUSD rocket from the 1.6220s up over …

Sterling slipped against the dollar on Tuesday, as worries stemming from growing tension in North Africa and the Middle East prompted investors pare back positions in riskier assets. Factors influencing the pound on the day were largely external, but domestic event risk loomed with policy minutes from the February Bank of England meeting on monetary policy due for release on Wednesday. What we have seen is a flock to the safe heaven currencies such as the JPY (Japanese Yen) and CHF (Swiss Franc) which have both seen strength throughout the …