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Moneycorp LogoDaily brief: Moneycorp

No nuggets in FOMC minutes

Posted on: 10 April 2014

Wednesday's British numbers were decent, at least as the balance of trade data were concerned. Even if investors had been looking to find fault with the figures, the worst they could come up with was that exports fell in February.


Posted on: 4 April 2014

Thirteenth place in yesterday's major currency stakes was taken by the Swedish krona, whose good form on Monday and Tuesday went to pot in the following two outings.

Draghi day

Posted on: 3 April 2014

There are apparently no limits to the effort of researchers to push back the frontiers of human knowledge: For reasons which will probably forever remain unclear, a study sponsored by the Alton Towers funfair asked 500 children, aged between six and ten, to identify pictures of fruit, people and things.

Prediction is difficult, especially about the future

Posted on: 2 April 2014

Bitter experience suggests that forecasting the weather is no big deal: if you want it to rain you organise a garden party and to guarantee a long drought you buy a hosepipe.

Euro twitches

Posted on: 1 April 2014

The euro twitched yesterday, but within minutes it was flying straight and level again. Investors have completely swallowed the ECB president's doctrine that low inflation is a passing phase that will not require central bank intervention.

Euroland inflation forecast to have fallen further

Posted on: 31 March 2014

There is no sin in UK economic growth slowing from 0.8% to 0.7% as long as the figure is genuine. Apparently some investors were suspicious that the finalised figure for Q4 GDP growth would be lower than the 0.7% declared in the first revision.

So far so good, now for GDP

Posted on: 28 March 2014

The pound has strengthened by three quarters of a euro cent, three quarters of a Swiss cent and half a US cent since Thursday's opening...

A sound pound needs a sales rebound

Posted on: 27 March 2014

Wednesday was a busy day for the world's political leaders. Barack Obama was surprised when he visited Brussels to discover that it was not in Germany.

Bundesbank boss blinks

Posted on: 26 March 2014

The Swiss frac spent the day on the defensive after the IMF encouraged the Swiss National Bank to continue to defend its SFr 1.20 floor against the euro.

Heads or tails? Or does it matter?

Posted on: 25 March 2014

Central bankers in Japan have been struggling with deflation for well over a decade. In Switzerland it has been a problem for two and a half years.

Excitement continues

Posted on: 24 March 2014

Because sterling did not have a particularly great year in 2011 there was not much to celebrate whereas in 2013 it strengthened by an average of 9% against the other major currencies...

Yellen trumps Osborne

Posted on: 20 March 2014

Few of the measures announced by the Chancellor of the Exchequer yesterday will have a material effect on the overall UK economy.

Sterling walks a tightrope

Posted on: 19 March 2014

In his Budget speech today the Chancellor of the Exchequer will announce the introduction of a new £1 coin. The current one is apparently too easy a target for forgers so, to make their task more difficult, the new one will have twelve sides - just like the pre-decimalisation threepenny bit.

Markets ignore Russia sanctions

Posted on: 18 March 2014

America has named the targets of its sanctions following the Kremlin's annexation of Crimea. Another handful of names has been put forward by the EC.

Rand rates to rise further

Posted on: 17 March 2014

In order to reduce atmospheric pollution, motorists with even-numbered registration plates will not be allowed to drive in Paris today.