Daily FX Commentary

29 July 2014 - FX markets steady ahead of US FOMC statement

By Alex Edwards
United States Dollar: It was another slow start to the week this week. GBP/USD started the day at 1.6980 and popped to a high of 1.6999 as the dollar softened throughout the day... read more

28 July 2014 - USD strengthens as risk aversion spreads through markets

By Alex Edwards
United States Dollar: GBP/USD has consolidated under the 1.70 level since Friday. The pound got a slight boost on the day after UK GDP data printed in line with market expectati... read more

25 July 2014 - GBP/USD struggles under 1.70 ahead of GDP data

By Alex Edwards
United States Dollar: The pound fell again on Thursday after UK retail sales printed weaker than expectations, rising by only 0.1% in June from May vs. 0.2% exp. With the less t... read more

24 July 2014 - Kiwi gaps lower despite RBNZ rate hike overnight

By Alex Edwards
United States Dollar: The pound dropped yesterday after the Bank of England minutes showed that MPC members voted unanimously to keep interest rates on hold at their last meeting... read more

22 July 2014 - Steady ranges ensue as caution prevails in FX markets

By Alex Edwards
United States Dollar: It was a very quiet start to the week in FX markets. GBP/USD drifted lower during the morning session but found good buying support at and around 1.7050. Risk... read more

21 July 2014 - Geopolitics dominate the headlines in FX markets

By Alex Edwards
United States Dollar: Risk sentiment waned on Friday as violence in Gaza escalated and geopolitical tensions intensified following the Malaysian airways crash. There were also some... read more

18 July 2014 - Risk off after Malaysian plane shot down over Ukraine

By Jake Trask
United States Dollar: There was little data from the UK yesterday so investors took time to digest the CPI and wage data from earlier in the week and decided to cash in on sterli... read more

17 July 2014 - Pound steadies following employment data

By Alex Edwards
United States Dollar: GBP/USD slipped from its highs on Wednesday after the UK average earnings index printed weaker than expected, outweighing the positive claimant count headline... read more

16 July 2014 - GBP/USD comes close to 1.72 on strong inflation headlines

By Alex Edwards
United States Dollar: The pound rallied on Tuesday following the release of stronger than expected UK inflation data. UK CPI printed at 1.9% y/y vs. exp. 1.6% y/y. It was a big jum... read more

15 July 2014 - USD firmer ahead of Yellen''s testimony

By Alex Edwards
United States Dollar: GBP/USD slipped below 1.71 yesterday, this level having previously acted as a good support level. Stop loss orders were triggered on its way down to a low of ... read more

14 July 2014 - GBP/USD remains supported at 1.71 as a busy week shapes up

By Alex Edwards
United States Dollar: GBP/USD continues to find support at 1.71. UK construction data on Friday printed weaker than expected and saw cable fall from 1.7147 to a low of 1.71. Output... read more

11 July 2014 - Euro drops as Portuguese banking worries deepen

By Alex Edwards
United States Dollar: As widely expected the Bank of England left interest rates and QE unchanged yesterday – the pound was unmoved following the announcement. The currency h... read more

09 July 2014 - Pound recovers after shock manufacturing data

By Alex Edwards
United States Dollar: Sterling slipped across the board yesterday as the latest Manufacturing Production figure undershot expectations by some distance. With the sector to expand b... read more

08 July 2014 - Markets Calm as Traders Look to FOMC Minutes

By Jake Trask
United States Dollar: Yesterday was a quiet day on the FX markets in the absence of any top tier data releases. Cable dropped through the day on profit taking as investors speculat... read more

07 July 2014 - Quiet Start to Week as Markets Look to Wednesdays FOMC Minutes

By Jake Trask
United States Dollar: Friday was relatively quiet in the financial markets with most Americans enjoying a long weekend due to the 4th July bank holiday. Thursday had seen a raft of... read more

04 July 2014 - EUR/USD Drops as NFP Beats Forecast

By Jake Trask
United States Dollar: Yesterday morning saw the monthly services PMI reading from the UK slightly undershoot expectations coming out at 57.7. A reading above 58 had been forecast a... read more

03 July 2014 - Markets await Non-Farms and ECB Rate Decision

By Jake Trask
United States Dollar: Sterling had another good 24 hours with yesterday’s monthly Construction PMI smashing forecasts printing 62.6 for June. This was much higher than the fo... read more

02 July 2014 - Pound Surges After UK Construction PMI Beats Forecast

By Jake Trask
United States Dollar: Sterling benefitted from yet more good data yesterday as the monthly Manufacturing PMI beat forecast. The report printed 57.5 (exp 56.7) up from 57 last month... read more

01 July 2014 - GBP hits 6 year highs versus USD

By James Mills
United States Dollar: GBP/USD continued its impressive run during Yesterday’s session following the news that both Net lending to individuals and Mortgage approvals rose in M... read more

30 June 2014 - Month end flows could create volatility today

By Alex Edwards
United States Dollar: GBP/USD traded convincingly above 1.70 on Friday. Data wise, the UK current account printed weaker than expected at -£18.5 billion and Final GDP q/q cam... read more

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