Forex News

Sterling rises as the UK's MPC are unanimous in their policy ideals Sterling reacted positively, by gaining circa 70 pips, as news broke that The Bank of England's monetary policy committee voted 9-0 against more monetary easing (Q.E.). The two members who voted for an increase in the last meeting, Paul Fisher and David Miles, […]

European car sales crash. Athens has been brought to a standstill this morning as Greek civil servants experience solidarity from many other workers during the one day general strike. As a grim reminder of how fragile Eurozone growth is, particularly in the manufacturing sector, we learned this morning that Europe's car sales have fallen to

Why calling the Chinese data "fake" is a mistake… There is a persistent rumour surrounding the data that is printed courtesy of China's official national statistics bureau. Many in the mainstream media persistently smear the publishers and the Chinese authorities, suggesting that the data is manipulated in order to paint a better picture of the

FOMC minutes and speech causes positive ripple-effects through world markets. The impact of Ben Bernanke's speech, given yesterday after the minutes of the last and latest FOMC meeting were published, the BOJ statements regarding Japanese stimulus combined with news that China will look towards means to re-ignite their economy after a spate of recent poor

BMW records record car sales as UK manufacturing collapses Yesterday's poor data, regarding exports and industrial growth in Germany, have been countered today with the news that BMW has posted record car sales in the first six months of the year due to strong growth in China and the US. The German car manufacturer sold

A troika 'deal' has been reached with Greece. Whilst that could be considered good news this revision to the original agreement terms and conditions has been put in place on the basis that Greece now will engage in a fresh round of public sector job cuts in order to meet its obligations to the country's

There was something entirely fitting about the first monetary policy committee decision and post decision press conference held by the new Bank of England governor Mark Carney on Thursday July 4th. Firstly, most of the assembled journalists and analysts were left in no doubt that from here on in the MPC, the monetary policy commission

One of the PIIGS is beginning to squeal, Portugal's bond yields rise past the critical 7% yield to 8%. Bond traders have been selling Portuguese debt this morning, in turn driving down its price and as a consequence pushing up the interest rate (yield) on the bonds. The yield was trading at below 6.5% on

In the overnight/early morning Asian session the print published regarding Chinese data, (the manufacturing PMI), came in as forecast by the economists polled. The figure was 50.1. The HSBC Markit publication was slightly lower than forecast at 48.2, a nine month low, but not significant as a miss in order to alter the current positive

As we enter a new financial quarter we're confronted with a raft of fundamental news and policy decisions in the first week of the month that could alter the current trend or deepen the existing trends… Early in the Asian session we'll have the China manufacturing survey print which is based on a survey of