UK Exposed to Irish Bailout? - November 16, 2010 19:07

This afternoon we have heard that the UK has a 13% exposure to the Irish debt situation and has therefore been called upon to help in a bailout package that could total upto €100 billion Euro’s. Mervyn King has stated that the UK’s exposure is by no means trivial which is in most traders eyes […]

US Retail Sales Climbs 1.2% and ECB sees Aid Necessary for Irish Banks - November 15, 2010 18:10

Retail sales figures in the worlds largest economy rose 1.2% today after climbing 0.7% last month. Stock markets have surged on this good news up 0.45% on the close as investors gain confidence in the US markets. The rise in retail sales was led by car sales and non-store retailers, both indicate that consumer demand […]

BoE Inflation Report Unexpectedly Hawkish - November 10, 2010 18:59

The BoE inflation report led to a significant Sterling rally accross the board due Hawkish comments stating that consumer prices are around target in the medium term. The report went on to say that there was a high probability that the BoE Chancellor Mervyn King would have to write an inflation letter to the Chancellor […]

FX Market Update 21st October 2010 - October 21, 2010 17:09

The pound has slumped to a daily low of 1.1226 against the Euro. This break through technical resistance could see further declines from here towards the next level of support between 1.10 and 1.0950. It is remarkable how quickly the Euro has strengthened against both the pound and the USD and it looks set to […]

FX Update – News Flash MPC Split and the Government Spending Review - October 20, 2010 14:43

Today as expected has seen a decline in the pound against all of the majors. The Bank of Englands minutes have shown a three way split in policy, with Andrew Sentance voting for a rate hike and Adam Posen voting for more QE. The other MPC members are all still at present sitting on the […]

FX Market Update 19th October 2010 - October 19, 2010 18:52

Today we have seen some respite for the USD. The Dollar has made gains against most currencies today as US Treasury Secretary, Timothy Geithner has said that the US will work to preserve confidence in a strong currency and will not work to devalue their currency.

FX Market Update 8th October 2010 - October 8, 2010 17:26

Employers in the US have cut considerably more jobs than expected, cutting 95,000 jobs leaving the current unemployment rate in the US at 9.6%. Following this announcement the global stock markets have declined pulling back some of the gains gathered this week so far.

FX Market Update 7th October 2010 - October 7, 2010 12:21

Today has been an extremely volatile day in the FX markets, Halifax House price data has shown this morning that house prices have dropped the most since at least 1983. The figures were expected to show a 0.2% decline and came out at -3.2%. This could be the initial signal that we are heading back […]

FX Market Update 4th October 2010 - October 4, 2010 15:02

Last week saw significant volatility in FX markets, the Euro gained against both Sterling and the US Dollar despite problems in Ireland and the announcement of an Allied Irish Bank bailout package set to cost the Irish tax payer €50 billion.