Cable

It’s the final trading session of the week, yesterday traders and politicians alike were discussing the positive UK growth figures and exiting the recession. Analysts were quick to note the 1% print was due to the Olympics and Jubilee effect rather than a sustained recovery. These contributing factors were one off events that will not be in future quarters to assist in the UK recovery. The economic ride for the UK is expected to be a bumpy one, though this positive figure has led econo…

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During the Asian session, the Reserve Bank of New Zealand (RBNZ) left their base interest rate on hold at 2.5%. The central bank expects firmer growth for the final quarter of the year and into 2013, with the markets expecting no further interest rate cuts, the Kiwi Dollar rallied following the release. UK GDP is released at 9:30am (London) and is expected to show expansion, and that the economy has pulled out of recession. David Cameron has come under fire from the opposition for a su…

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The Bank of Japan unexpectedly increased is asset-purchases by 10trillion Yen, as the central bank attempts to counter the country’s economic contraction. Following the announcement Japanese stocks rallied and the Yen fell as only 5 of 21 analysts forecast the easing. Manchester United may have had a good season on the pitch, but financially their first earnings show that the lack of trophies led to an operational loss of £14.9m. Total revenues were down 3% to £…

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