Daily FX Commentary

29 July 2015 - Markets steady in run up to the Fed statement

By Alex Edwards
United States Dollar: UK Q2 Prelim GDP printed in line with market forecasts yesterday at 0.7%. It shows that the UK economy is back on course, this following a Q1 reading of 0.... read more

28 July 2015 - Pound rises on UK GDP data

By Jake Trask
United States Dollar: GBP/USD rose during yesterday’s session hitting a late afternoon peak of 1.5595 around a cent higher than its low earlier in the day. The dollar weakn... read more

27 July 2015 - Dollar dumped as Fed accidentally release report for staff projections

By Alex Edwards
United States Dollar: GBP/USD slipped under 1.55 on Friday, dragged lower by increased selling in the EUR/USD pair. It recovered once US markets came online however – the ... read more

24 July 2015 - Pound falls on poor retail sales data

By Jake Trask
United States Dollar: The pound fell yesterday as UK Retail Sales missed forecast by some distance. With the markets pricing in growth of 0.4% the release printed -0.2% with fall... read more

23 July 2015 - MPC vote unchanged at 9-0 - Greek parliament passes latest reforms

By Jake Trask
United States Dollar: The minutes from the Bank of England’s latest Monetary Policy Committee meeting were released yesterday showing that policy makers were again unanimo... read more

22 July 2015 - Markets await MPC Minutes

By Jake Trask
United States Dollar: Yesterday was relatively quiet data-wise with few releases of note. Cable started the day at around 1.5590 and fell back to a low of 1.5530 early on as some... read more

21 July 2015 - Greece pays debts to IMF and ECB

By Jake Trask
United States Dollar: The pound has clawed back some of its losses from yesterday after it was sold off as the London session began. After a small rise it fell back from a high o... read more

20 July 2015 - Sterling’s gains continue on future UK rate hike expectations

By James Mills
United States Dollar: GBP/USD saw a small decline on Friday as US core CPI figures came in on target. The morning saw the pound on the up as markets continued to factor in a potent... read more

17 July 2015 - Sterling rises after Carney rate hike comments

By Jake Trask
United States Dollar: It was another good day for the pound yesterday as bank of England Governor Mark Carney hinted that UK rate rises are due to rise in around six months. In a... read more

16 July 2015 - Greek parliament passes laws in bid to access 3rd bailout

By Jake Trask
United States Dollar: Yesterday saw the UK level of unemployment unexpectedly tick up to 5.6% from 5.5% as worse than expected jobs figures were released. An expected drop of 8.... read more

15 July 2015 - Pound rises on Carney comments - Greek parliament to vote on bailout

By Jake Trask
United States Dollar: It was positive day for the pound yesterday as comments from the Inflation Report hearings at Parliament hinted at a sooner than expected UK rate rise. Mark... read more

14 July 2015 - Euro weakness continues after 3rd Greek bailout approved

By Jake Trask
United States Dollar: In the absence of any data the pounds moves were driven by the dramatic news from Europe as Greece and its creditors agreed the terms of a third bailout. As... read more

13 July 2015 - Agreement reached between Tsipras and creditors but euro slides

By Alex Edwards
United States Dollar: An agreement between Greece and its creditors on a third bailout has now been reached. A press conference has just taken place and the euro was initially b... read more

10 July 2015 - Greek deal looking more likely as austerity proposals are submitted

By Alex Edwards
United States Dollar: Greece has now submitted new austerity proposals to its creditors. According to reports, the proposals seem fairly severe too and include; raising and stan... read more

09 July 2015 - Pound drifts lower as Greek headlines continue to dominate

By Alex Edwards
United States Dollar: GBP/USD trickled lower throughout the day yesterday. The headlines on Greece were fairly mixed and the UK summer budget didn’t really have too much o... read more

08 July 2015 - EU summit set for Sunday to discuss Grexit

By Jake Trask
United States Dollar: Yesterday saw worse than expected Manufacturing Production figures from the UK with official data showing a 0.6% contraction in output between May and June.... read more

07 July 2015 - Greek leaders to present new plan in Brussels

By Jake Trask
United States Dollar: Reaction to the Greek No vote was fairly muted yesterday as the turmoil some had been predicting failed to materialise. Virtually all bourses around the wor... read more

06 July 2015 - 61% vote No in Greferendum - Varoufakis quits as Finance Minister

By Jake Trask
United States Dollar: Friday saw supportive data for the UK as the closely followed Services PMI printed a better than expected 58.5, two points higher than the June release. Chr... read more

03 July 2015 - Aussie dumped on soft retail sales data

By Alex Edwards
United States Dollar: GBP/USD recovered a bit on Thursday following the release of better than expected Construction PMI. It pushed up through 1.56 again but has traded sideways... read more

02 July 2015 - Pound falls as Carney talks down chances of rate hike

By Alex Edwards
United States Dollar: It wasn’t a great day for the pound yesterday. It got off to a bad start after UK manufacturing data missed forecasts. The index showed that British... read more

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