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Trading commentary: CaxtonFX
Richard Driver is a Currency Market Analyst at Caxton FX.
Posted on: 17 August 2012
Thursday brought some unexpectedly strong UK retail sales data, which initially boosted sterling before the euro enjoyed a decent late rally on encouraging words from Merkel.
Posted on: 16 August 2012
Wednesday’s UK unemployment data defied the weak growth figures that we have been seeing by making yet more progress.
Posted on: 15 August 2012
Data on Tuesday revealed that UK inflation unexpectedly rose in July from 2.4% to 2.6%, which gave sterling a decent start to the session.
Posted on: 14 August 2012
After a quiet start to the week, there are plenty of market-moving events scheduled for today. The monthly UK inflation figure is likely to show weaker price pressures...
Posted on: 13 August 2012
The euro lost ground last week amid a shortage of developments with regard to the ECB’s promised action, while Greece is once again hitting the headlines for the wrong reasons.
Posted on: 10 August 2012
The ECB’s monthly bulletin cited downside risks to eurozone growth yesterday, while Chinese growth figures have also been alarmingly weak.
Posted on: 9 August 2012
Sterling enjoyed an excellent session on Wednesday thanks to a remarkably positive response to yesterday’s Bank of England Quarterly Inflation Report.
Posted on: 8 August 2012
Sterling enjoyed a very strong session on Tuesday, thanks to better than expected UK manufacturing and industrial production figures.
Posted on: 7 August 2012
The single currency continued on its firmer footing, helped by news that Angela Merkel and her government backed the ECB’s plan to resume buying peripheral debt to ease pressure in the bond markets.
Posted on: 6 August 2012
Last week’s busy calendar was rounded off by the closely watched monthly US unemployment update, which came in well above expectations and gave market sentiment a considerable lift.
Posted on: 3 August 2012
After stating that he would do “all that was necessary” to preserve the euro, Draghi disappointed yesterday by doing very little, which put the euro under severe pressure.
Posted on: 2 August 2012
The US Federal Reserve decided against introducing QE3 last night, though the central bank of course left the door wide open to more monetary easing down the line.
Posted on: 1 August 2012
End of month book-squaring ensured it was a weaker session for the pound yesterday but any exchange rate moves ahead of tonight’s Fed decision and tomorrow’s ECB and BoE decisions can be seen as a mere prelude.
Posted on: 31 July 2012
US President Barack Obama chimed in with some interesting comments yesterday, highlighting that he envisaged continued economic “headwinds” for several more months.
Posted on: 30 July 2012
We saw a return to risk last week with ECB President Mario Draghi stating that he will do 'whatever it takes' to support the euro.