Daily Forex Commentary

24 November 2017 - GBP losing support after further examination of Budget

By Nick Parsons
A sequence of 1.4, 1.3, 1.3, 1.5 and 1.6 would be a pretty dire set of marks in ice-skating or gymnastics. As a set of GDP forecasts, it is equally grim. read more

23 November 2017 - USD dumps after Fed Minutes; can GBP hold its gains?

By Nick Parsons
The pound had a pretty mixed day on Wednesday – up against the USD and AUD but down slightly against the EUR, CAD and NZD – after UK Chancellor Philip Hammond delivered his annual Budget speech to the House of Commons. read more

22 November 2017 - GBP steady ahead of UK Budget, CAD jumps with oil prices

By Nick Parsons
The big event for Wednesday is obviously the UK Budget, delivered by Chancellor of the Exchequer Philip Hammond. read more

20 November 2017 - EUR falls after failure of German Coalition talks

By Nick Parsons
The British Pound opens a after a good week which saw GBP/USD begin at 1.3130, move up to a high of 1.3250 on Friday, and then end at 1.3220. read more

17 November 2017 - GBP ends the week on a high note; AUD and NZD slump

By Nick Parsons
The British Pound couldn’t quite get to 1.32 in the Northern Hemisphere yesterday but when it did finally reach this level in Sydney overnight, it pretty quickly added another 40 pips or so to be the strongest currency in the Asia session. read more

16 November 2017 - GBP flat ahead of retail sales data

By Nick Parsons
It has been a much calmer session overnight for the British Pound, which traded in an exceptionally tight range between USD1.3168 and 1.3180 for just over 12 hours. read more

15 November 2017 - AUD falls after soft wages, GBP waits for labour market data

By Nick Parsons
The UK Government won the first six of the many votes on Brexit which are scheduled over the next few days but this doesn’t mean that concerns about the economy or politics have gone away. read more

14 November 2017 - UK CPI to jump above 3% but politics still weigh on GBP

By Nick Parsons
Tuesday 14 November British Pound (GBP) After further sharp movements on Monday, the pound has had a much quieter overnight session; managi... read more

13 November 2017 - UK CPI to breach BoE target. Wages key for GBP.

By Nick Parsons
Overnight, GBP/USD opened in Sydney at 1.3180 and has already fallen 60 pips to a low of 1.3120. The weekend Press in the UK was again dominated by politics; a constant stream of bad news for Prime Minister Theresa May’s minority government read more

10 November 2017 - Brexit talks restart amidst fresh Irish concerns

By Nick Parsons
It is the turn of the Daily Telegraph newspaper this morning to splash with an exclusive report that just as formal Brexit negotiations are due to restart, the Irish Government has put forward a draft paper “Dialogue on Ireland/Northern Ireland” read more

08 November 2017 - Politics pressuring the pound

By Nick Parsons
In another sign that shoppers are cutting back, sales at John Lewis’s department stores fell by 3.7% last week compared to a year earlier. read more

07 November 2017 - Even more poor UK economic news

By Nick Parsons
The next major set-piece event for the UK Government is the annual Budget to be delivered by Chancellor Philip Hammond on November 22nd. read more

06 November 2017 - GBP politics, Trump’s Tax, NZD inflation

By Harriet Easton
The weekend Press did not make very comfortable reading for anyone with currency exposure in the UK. read more

02 November 2017 - Bank of England in focus

By Nick Parsons
By tradition, the Bank of England never comments publicly on monetary policy or interest rates in the week before a meeting of its Monetary Policy Committee (MPC). read more

01 November 2017 - Bring on the new month

By Nick Parsons
Two days of very strong gains for the GBP have taken it to a four week high against the US Dollar and a 5 week high against the EUR. read more

31 October 2017 - Nothing too scary in FX

By Nick Parsons
Two of the main private sector gauges of confidence were released overnight in the UK: GfK’s consumer confidence and the Lloyds Bank business barometer. read more

30 October 2017 - Bank of England in the spotlight

By Nick Parsons
Foreign exchange markets have already been open for 12 hours and there’s now over 100 hours of uninterrupted trading until close of business in New York on Friday evening. read more

27 October 2017 - Draghi disappoints Euro bulls

By Hamish Muress
It looks like Janet Yellen should start looking for a new role as it was reported yesterday that she is out of the running for the Fed Chair next year. The papers reported yesterday that the race has been narrowed to just Powell and Taylor according to a read more

24 October 2017 - Trump moves closer to Fed Chair nomination

By Hamish Muress
It was a very quiet start to the week for the pound with only the latest insight into UK factory growth being released. According to the survey from CBI, optimism in the manufacturing sector has fallen to its lowest level since July 2016. Alongside this a read more

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