Octa trading broker
Open trading account

Forex: GBP moves out of Euro´s orbit – BBH

A key theme of the market recently has been the continued weakness of the UK economy and Sterling´s move out of the Euro-orbit to some extent write Brown Brothers Harriman analysts.

They note that the CIPS manufacturing survey was disappointing and the December report was revised lower. The Jan reading of 50.8 compares with 51.2 in December, which was revised from 51.4. Cable fell to session lows on the news, just above 1.58. They finish by writing , “However, we suspect the market may be a bit too negative.  It is the first back-to-back reading above 50 since March-April last year.  Output itself rose to 54.2 from 53.4, which is the highest since Nov 2011.  New orders rose for the third consecutive month.”

Forex: EUR/SEK keeps the lows around 8.6000

A sharp appreciation of the Swedish krona followed after the manufacturing PMI in the Nordic economy climbed to 49.2 during January, bettering December’s 44.6 and dragging the cross from the area around...
Read more Previous

Forex Flash: EUR/USD off highs on lower LTRO repayment – TD Securities

Due to market concerns on less than expected 3-year LTRO repayments, the EUR/USD eased from its highs, at 1.3675. “€3.5bn of banks’ 3-year LTRO borrowings will be repaid next week—in line with our expectations of small weekly payments but much lower than the Reuters poll expectations of €20bn”, wrote TD Securities analyst Tim Davis. Investors got surprised by both Italian and Spanish manufacturing PMIs, around half a point above consensus “while the German manufacturing PMI was revised up by a point to 49.8—within touching distance of 50 and following a better than expected preliminary German estimate”, said Davis, pointing also to a French print in line after the disappointing preliminary reading.
Read more Next