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Friday, 26 December 2014
News

Sterling stable around 1.5550 level

Sterling remains within consolidation range that we have been in in the past few weeks. However, general outlook is more on the bearish side at the moment. GDP growth should slow in the fourth quarter, and there are deflation risks since CPI increased only by 1% in November. However, holiday season will spur sales that should contribute to economic growth. It is quite uncertain when BoE will raise its interest rates. At the moment we cannot expect that this will happen before the third quarter of 2015.

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Wednesday, 24 December 2014
News

Euro slightly up in a quite holiday season trade

It is a steadier session for euro as some of the largest European banks are being closed in observance of Christmas Eve holiday and without any data releases from Eurozone. Euro remains under pressure as Eurozone economy is far from exit gates of recession and with growth rate slowing down even in Germany. Deflation concerns persist, with inflation at only 0.3%, far away from ECB 2% target despite all the monetary measures, which means that we could be seeing another round of additional monetary stimulus quite soon.
 
USD continues to gain on its value supported by recent US data which indicates stability and constant raise in labour market, while GDP for the third quarter showed 5% growth, much above forecasted incline. This also points out that Fed could be raising interest rates soon, perhaps even in the first quarter of 2015, though Fed officials are still not hinting at any particular date.
 
Euro gained few points and is currently being traded slightly below 1.2190 level. Pair is likely to find support around 1.2150 level and resistance above 1.2220 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
 
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Wednesday, 17 December 2014
News

Fed left interest rates unchanged

As it was largely expected Committee reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2% inflation. Labor market conditions improved further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. However, it is expected that the benchmark rate will be 1.125% at the end of next year, compared with a 1.375% median estimate in September.

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Wednesday, 17 December 2014
News

BoE left interest rates unchanged opting for stronger wage growth

BoE released its Meeting Minutes from their latest meeting. Minutes showed that BoE decided ti  keep interest rates at a record low this month with majority of members stating that  “promising” pickup in wage growth wasn’t enough to raise concerns about the outlook for medium-term inflation.“As yet, pay growth was only roughly in line with, rather than in excess of, officials said in the minutes.
 
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