Mark O'Sullivan, Currencies Direct
Mark O’Sullivan, Director of Dealing, Currencies Direct.
Mark has over 20 years experience working in both the corporate and retail foreign exchange markets having worked for a number of companies including MW Marshall’s, Harlow Garban and GT Trading, where he was a partner. Mark is held in high regard within the industry and regularly features on CNBC, Bloomberg and in the Financial Times providing expert opinion on the currency markets.
21 January 2011
Consolidation hit the forex markets yesterday with little influence from economic data. We received more dialogue from European officials concerning their Emergency Funding Facility, but really only going over old material so no material effect on rates.
20 January 2011
The Greenback fell to a two month low against the euro yesterday as speculation that the US economic recovery will remain sluggish and mounting speculation that European officials are successfully addressing the region's debt crisis.
19 January 2011
Yesterday’s publication of the UK inflation rate made for an interesting day for Sterling. The current rate now stands at 3.7%, getting on for double the Bank of England’s official target rate of 2%, surges in the price of fuel, transport and food the headline grabbers of price rises across...
18 January 2011
With the VAT rise and soaring energy prices, did we expect anything but high inflation numbers from the UK. Released today at 9.30am were the CPI and RPI figures and they didn’t disappoint. CPI came in at 3.7% YoY; ahead of expectations of 3.3% which would have matched last months figure.
17 January 2011
The euro posted its largest weekly gain in almost two years versus the dollar after successful auctions of Portuguese, Spanish and Italian debt garnered more demand than expected and Germany's Chancellor Angela Merkel pledged to do whatever's necessary to ease...
14 January 2011
Anyone who was short the Euro yesterday got their finger well and truly burnt, with the Euro Dollar pair rising almost one and a half percent on the back of successful bond auctions in Spain and Italy and the ECB indicating a much more hawkish stance in their press briefing at lunch time.
13 January 2011
The Euro has managed to claw back some of its recent losses though more on relief that Portugal got their bonds away at yesterday's auctions than on any conviction that the Eurozone are any nearer finding a solution to its current woes.
12 January 2011
A report from the British Retail Consortium indicated that U.K. retail expenditure grew at a slower pace in December, after November showed 2.8% growth. This was the first drop in retail sales in 8 months.
11 January 2011
The Euro-Dollar pair faced further selling pressure yesterday with the Euro hitting a four month low against the Dollar as it emerged that Portugal was facing pressure from within the EU to take bail-out money sooner rather than later.
10 January 2011
The Focus last week was on Friday's US Unemployment Report and the numbers didn't fail to surprise the pundits. Against expectations of a headline increase in non-farm payrolls of 150,000 - 160,000, the actual number was reported as an increase of just 103,000; not good.
7 January 2011
The Euro being under pressure seems to be a consistent theme in the markets this week, with the big move being seen against the USD. So far, three factors are driving the Euro/Dollar lower towards the 1.3000 level.
6 January 2011
Germany showed the rest of Europe a clean set of heels with another very positive set of economic numbers demonstrating just how diverse the economies within the Eurozone have become.
5 January 2011
Given most of the country was frozen solid for most of December, yesterdays extremely positive UK manufacturing data caught many in the market by surprise. British PMI rallied to 58.4, the fastest pace of growth since 1994.
4 January 2011
The year ended on an unpleasant tone particularly for eurozone equity markets (and the Aussie cricket team) due to continued fiscal and debt tensions. The single European currency rose into year end but this looked more like position adjustment against a change in opinion.
16 December 2010
Neither US or Asian Markets were able to sustain the volatility that we saw yesterday in Europe and exchange rates were little changed first thing from where we left them. Traders were therefore keen to lock in the profits from Wednesdays moves and accordingly lifted Eurodollar...
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