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Symbol Bid Ask EURCHF 1.04387 1.04409 EURUSD 1.10553 1.10565 GBPUSD 1.55506 1.55527 NOKJPY 15.196 15.209 USDJPY 122.62 122.634 USDSGD 1.34952 1.34998 USDTRY 2.69285 2.69331
Symbol Bid Ask ESX50 3384.6 3386.8 GER30 10917.8 10920.5 NAS100 4393.76 4394.76 SPX500 2060.5 2061.2
Symbol Bid Ask XAGUSD 15.551 15.618 XAUUSD 1163.63 1164.09
The latest figures from the British Banking Association show that mortgage approvals reached a 24 month high in May. In the run up to the General Election April, the risk of an unknown coalition and a mansion tax slowed housing demand. Post-election, with a Conservative majority and interest rates still at 0.50%, buyers are back in force. May mortgage approvals edged up to 42,530 from 42,020 in April, the highest outturn since March 2014. The latest data supports the view of a reacceleration of...
The Bank of England minutes for the MPC meeting ending on the 3 June recorded that the committee voted unanimously (9 – 0) to leave interest rates unchanged at 0.50% and asset purchases (QE) at £375bn. Lower inflation is likely to dissipate, which is in line with previous comments from Mark Carney comments that the slowdown in inflation was transitory due to the sudden fall in energy prices. Any change from the MPC member voting from 9-0 would be seen as a signal that monetary policy tightening...
In April the ONS reading for CPI was that UK prices had gone down (deflation). In the height of the recession inflation peaked at over 5%, significantly above the Bank of England’s 2% target. The governor at the time, Mervyn King would write a letter to the Chancellor explaining why inflation was overshooting the central banks remit. With inflation high and asset prices appreciating, some analysts believed that interest rates would need to be increased from the record low of 0.50%. The MPC held...
Overnight the Bank of Japan Governor Kurodo said that “the Yen may not weaken much further on real effective exchange rate basis”. The comments led to an immediate strengthening in Yen crosses, as traders interpreted the comments; that the BoJ will not be easing further in the near future. USDJPY session high was 124.65, following Kurodo’s comments the currency pair to session lows of 1.2245. The governors comments were retracted by a Japanese official, in what has become common place, with cu...
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