Results for 'BOE'
26 articles with this tag name
Updated May 22, 2013 4:30:00 PM
Cable has once again extended its decline (over the past 48-hours) on the back of a combination of GBP weakness and USD strength. This was prompted by both fundamental and technical factors. Fundamental highlights contributing to GBPUSD decline: • UK April CPI: +0.2% vs. expected +0.4% MoM
• UK April Retail Sales: -1.3% vs. consensus +0.1% MoM
• UK April Public Finances: -10.8B vs. exp. -4.0B
• Bank of England meeting minutes were
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Updated May 22, 2013 11:30:00 AM
The Bank of England minutes from the May meeting released this morning was largely as expected and showed that Governor King was once again outvoted. The soon-departing Governor voted in favor of a £25B expansion of quantitative easing (QE) along with MPC members Miles and Fisher. However, the doves were unable to gather enough support as the majority decided to keep policy steady. Minutes are backward looking as they reveal the MPC’s discussion on May
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Updated May 9, 2013 10:40:00 AM
After a fairly dull week of mostly second tier data, Thursday’s events have been more interesting. The key data releases were UK production data, the Bank of England policy announcement and US initial jobless claims. After no change at the BOE, it was left to last week’s initial jobless claims in the US to really get markets moving. Jobless claims fell to 323,000, down 1,000 from last week, which is the lowest level for
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Updated May 9, 2013 6:00:00 AM
The BOE announces its latest policy decision today at 1200BST/ 0700 ET. The market expects no change in interest rates or asset purchases. Most GBP crosses have been in consolidation mode this week as top-tier economic data remains thin on the ground. Added to that, volatility in GBP has dropped, which has kept sterling fairly range bound in recent days. But traders, don’t despair, the greatest opportunity around the BOE meeting may be in
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Updated May 8, 2013 5:00:00 AM
The stability in the euro has been impressive and it has been moving higher with global stock markets. It seems the global wall of central bank liquidity has helped to prop up the single currency even against the best efforts of the ECB, who have gone to extremes to try and limit EUR strength in recent months. But has EURGBP gone too far? It is at a critical juncture and is testing key resistance
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Updated Apr 3, 2013 7:30:00 PM
With several key events happening over the next 48-hours: Interest rate announcements out of the BOJ, BOE & ECB as well as the U.S. employment report, we felt it was pertinent to highlight some of the technical levels in many of the FX majors and other asset classes as these events could create an extreme amount of volatility depending upon their outcomes. FX MAJORS: COMMODITIES, EQUITIES & TREASURIES: 1 Reference is for informational purposes only
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Updated Mar 12, 2013 12:00:00 PM
After a 1% gain last week, the dollar has eased back this week, falling into the New York open against its major trading partners. The dollar index is making tough work of 83.00 – a key resistance level. The lethargy of the dollar bulls this week brings up some interesting questions for investors: if the dollar is a growth currency then could dollar weakness be a pre-curser of weakness in stocks and other growth sensitive
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Updated Mar 7, 2013 4:10:00 PM
The USD is trading mostly lower against the major currencies with the notable exception being against the JPY. USD/JPY rose to its highest level since August 2009 as it briefly traded above the 95.00 big figure. This occurs after Shirakawa’s last meeting as Bank of Japan Governor. Markets are now looking ahead of his departure and towards the potential for more aggressive easing under Kuroda. For now, it looks as though the 95.00 zone has
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Updated Mar 7, 2013 10:00:00 AM
The ECB and BOE both kept monetary policy on hold in March, which has helped to boost the EUR and GBP this afternoon. Although the majority in the market expected the ECB and BOE to remain on hold, there was a small chance of a rate cut at the ECB and more QE at the BOE, hence the “relief” rallies in the two currencies this afternoon. Draghi strikes an upbeat tone Looking at the
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Updated Mar 6, 2013 10:00:00 AM
There is an unusually large amount of uncertainty as we lead up to the ECB and BOE meetings tomorrow and it is being reflected in price action today. EURUSD and GBPUSD have been drifting lower throughout the London Session and were given another push lower by the ADP report that edged closer to the magic 200k number. This helped the dollar to extend recent gains; interestingly the dollar is rising alongside stocks. European stocks are
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