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Moneycorp LogoDaily brief: Moneycorp

EU ministers keep the interest alive

Posted on: 29 January 2013

This morning's first ecostat from Europe was an uptick in German consumer confidence to 5.8. Yet to come are French consumer confidence and Spanish retail sales.

Zero UK growth in 2012 but sterling hangs on

Posted on: 28 January 2013

Friday's data showed the UK's gross domestic product shrinking by -0.3% in the fourth quarter of 2012 and investors were not slow to show their disapproval by shrinking the value of the pound against most major currencies.

Sterling unscathed after three lucky escapes

Posted on: 24 January 2013

It was the first of three lucky escapes for Sterling on Wednesday. The second came when the UK employment data exceeded investors' expectations.

All eyes on Prime Minister’s speech

Posted on: 23 January 2013

It is far from clear how investors will react to this morning's speech by the prime minister and his promise of an in/out referendum on Britain's membership of the European Union in 2017.

Sterling’s suffering

Posted on: 22 January 2013

Sterling had another tedious day yesterday, with its biggest loss against the South African rand, where it lost 11 cents (-0.8%) to the volatile currency.

Sterling on the ropes

Posted on: 21 January 2013

Sterling had another difficult day on Friday that left it lower on the week against everything except the Swiss franc, where it was three quarters of a cent ahead.

Sterling sell-off not yet overdone?

Posted on: 18 January 2013

Since the beginning of the year the pound has lost two US cents and three euro cents. Over the same period sterling has fallen by that much or more against the AUD, CAD and NZD.

Currency wars

Posted on: 17 January 2013

A war is about to begin on the international stage according to Alexei Ulyukayev, the deputy head of Bank Rossii, Russia's central bank.

Euro too high, yen too low

Posted on: 16 January 2013

Jean-Claude Juncker, leader of the euro area group of finance ministers, said yesterday "the euro foreign exchange rate is dangerously high". Investors knew exactly what was expected of them and set about selling the euro.

Swiss franc slumps, yen jumps

Posted on: 15 January 2013

Yesterday's Italian industrial production figures showed monthly and annual falls of -1.0% and -7.6% while the pan-Euroland readings were -0.3% and -3.7%.

Disappointing data and anti-EU isolationism weigh on pound

Posted on: 14 January 2013

British firms should be praised for trying really hard to produce stuff in November but unfortunately, according to Friday's data, their results were rubbish...

Draghi boosts euro

Posted on: 11 January 2013

Giving the euro a shot in the arm yesterday was ECB President Mario Draghi. At his monthly press conference Sig. Draghi did a great job of talking up the Euroland economy and its financial situation.

No change to RPI, no change to base rates

Posted on: 10 January 2013

The decision to keep RPI roughly as it is should not affect the outcome of today's Monetary Policy Committee meeting in London...

Investors flock to buy ESM debt

Posted on: 9 January 2013

There were two systems operating in the FX market yesterday. One was pushing every dollar higher; the other was holding down just about everything else.

Debt ceiling matter critical

Posted on: 8 January 2013

The fiscal cliff avoidance measure, which went through Congress only at the 13th hour, was one example of grandstanding and brinkmanship. Another lies ahead...