FOLLOW MARKETMOVES

GBP/USD update (10th Nov 2011, 15:30)

Sterling inched up this afternoon after the Bank of England (BoE) announced that policymakers have kept interest rates on hold at a record low 0.5% and left its asset purchase targets unchanged, as expected.

The policy decision pushed the focus on to next week's BoE inflation report, which could reveal the extent of weak economic fundamentals in the UK, leading to speculation that the central bank might increase their asset purchase targets in December. Further supporting the British pound this afternoon was US economic data which showed a positive start for the labour market in the fourth quarter. Data showed that the number of Americans claiming unemployment benefits fell to the lowest level in seven months.

Jobless claims fell by 10,000 to 390,000 in the week ending 5 November, compared to expectations of 400,000, while the number of people on unemployment benefit rolls decreased, and those getting extended payments rose. With data pointing to an improvement in the labour market and ECB president Mario Draghi deploying extra firepower at his disposal (buying Italian bonds) to help stem the eurozone crisis, the safe-haven US dollar weakened, pushing the GBP/USD trading pair 0.21% higher this afternoon.

comments powered by Disqus

All Forex News

Trusted Firms

All Reviews
EUR/USD update (16th April 2014, 14:00) 16 Apr 2014

The euro is higher versus the US dollar, after the level of inflation in the eurozone remained unchanged in March.

GBP/USD update (16th April 2014, 13:00) 16 Apr 2014

UK unemployment has now dipped below 7%, the initial threshold level the Bank of England introduced in August but reneged upon last month, which has s...

EUR/USD update (15th April 2014, 15:00) 15 Apr 2014

Having popped its head above the $1.39 level at the tail end of last week, EUR/USD has found itself pulled back.

Market Comment 15th April 2014 15 Apr 2014

European equities are set to open flat as they’re caught between two competing poles of sentiment. 

AUD/USD update (14th April 2014, 18:00) 14 Apr 2014

The Australian dollar is gaining ground against the US dollar, as traders prepare for the latest minutes release from the Reserve Bank of Australia.

EUR/USD update (14th April 2014, 16:00) 14 Apr 2014

The euro is under pressure against the US dollar as tensions in eastern Ukraine weigh on the currency.

Market Comment 14th April 2014 14 Apr 2014

European equities are set to start on the back foot as last week’s negative sentiment remains firmly intact. 

GBP/USD update (11th April 2014, 16:00) 11 Apr 2014

After touching $1.68 yesterday, sterling has dropped back, hit by weaker UK construction output figures.

EUR/USD update (11th April 2014, 16:00) 11 Apr 2014

If we see the euro close above $1.39 today, then it will be the icing on the cake for the currency, which has enjoyed a remarkable week.

Market Comment 11th April 2014 11 Apr 2014

European equities are set to open lower tracking overnight declines in the US. 

EUR/USD update (10th April 2014, 12:00) 10 Apr 2014

Momentum has taken EUR/USD higher as a steady flow of economic data has been released over the week.

Market Comment 10th April 2014 10 Apr 2014

European equities are set to show modest gains on the open due to a dovish FOMC Meeting minutes overnight. 

AUD/USD update (9th April 2014, 19:00) 9 Apr 2014

The Australian dollar has reached a new high for 2014 prior to tonight's Federal Reserve minutes release.

EUR/USD update (9th April 2014, 18:00) 9 Apr 2014

The EUR/USD has pulled back from the $1.38 mark as traders have taken their profits from two days of gains.

Market Comment 9th April 2014 9 Apr 2014

European equities are set to open mixed as traders continue to tread cautiously. 

GBP/USD update (8th April 2014, 14:00) 8 Apr 2014

Today’s strong UK manufacturing and industrial production data has helped sterling gain ground against the US dollar.



Share this with your friends

To:
From:
Your comments:

GBP/USD update (10th Nov 2011, 15:30)

Sterling inched up this afternoon after the Bank of England (BoE) announced that policymakers have kept interest rates on hold at a record low 0.5% and left its asset purchase targets unchanged, as expected.

Read more »

Connect to successful traders – join Marketmoves.com free now

Log In or Sign up

Facebook User?

You can use your facebook account to sign up with Live streaming sport.

Connect with facebook
Remember me.
Did you forget your password?