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GBP/USD – Pound Stumbles to 4-Month Low as Manufacturing PMI Slips

The US dollar has steamrolled the British pound in the Tuesday session. In North American trade, the pair is trading at 1.3599, down 1.18% on the day. On the release front, British Manufacturing PMI fell to 53.9, well below the estimate of 54.8 points. Consumer lending dropped to GBP 4.2 billion, missing the estimate of […]

UK PMI Fell Raising Pressure on BoE To Hold Rates

Fresh pressure on the Bank of England to delay raising interest rates has emerged after figures for manufacturing and consumer credit highlighted the weakness of the UK economy. Until recently, next week’s Bank meeting was widely expected to sanction another rate increase, but weak growth figures on Friday made such a move less likely and […]

BP CFO Says Oil Prices Could be Headed for Correction

Oil prices look to have climbed to unsustainable levels and could soon start to fall away from multi-year highs, BP’s chief financial officer (CFO) told CNBC Tuesday. Crude futures stood within $1 of highs not seen in more than three years on Tuesday morning, amid a broad price recovery which has helped the resurgence of […]

Live FX Market Analysis – 1 May 2018 (Video)

Senior Market Analyst Craig Erlam previews a busy week for financial markets which includes central bank announcements, big economic releases and more US companies reporting first quarter earnings. Craig also gives his live analysis on EURUSD (16:03), GBPUSD (18:47), EURGBP (21:10), AUDUSD (24:13), USDCAD (26:19), GBPCAD (28:21), NZDUSD (30:47), USDJPY (32:32), GBPJPY (33:54) and EURJPY (35:35). […]

OANDA Market Insights Podcast With Jazz FM

OANDA Senior Market Analyst in Toronto Alfonso Esparza and Jazz FM Business Breakfast presenter Jonny Hart look back at the week’s business and market news. This week UK GDP set to stall rate rise, US earnings drive stocks up and Dollar climbs higher. U.S Dollar Shines Despite Labour Day Recognition USD/CAD – Canadian Dollar Steady […]

CNBC Survey Shows More Fed Rate Hikes and Lower Stocks

The outlook for inflation — and for Fed rate hikes to counter the threat — continues to push higher. The CNBC Fed Survey sees little chance for a hike at May’s two-day meeting, which begins Tuesday, but an 86 percent chance that the Fed will hike in June. The 37 respondents to the survey — […]

US Small Business Employee Wages Rose to 2 Year High

Small business employees saw their wages grow last month at the strongest rate in more than two years, according to a report from human resources firm Paychex. Hourly earnings in April increased at an annual rate of 3.25 percent, the best showing since 2016. Wages of $26.56 per hour last month were up 2.69 percent, […]

CAD Rebounds on Strong Economic Growth

Canadian economic growth increased 0.4 percent in February on a rebound in mining and oil and gas extraction, Statistics Canada said on Tuesday. The service-producing sector edged up 0.1 percent in February, while the goods-producing sector grew by 1.2 percent thanks to manufacturing and construction. via Reuters

US Tariff Delay Not Enough for EU Seeking Other Solutions

The European Union remains unsatisfied after the White House’s move to extend a decision on metal tariffs. President Donald Trump decided Monday to delay until June 1 a decision regarding the imposition of a 25 percent levy on steel imports and a 10 percent duty on aluminum for Mexico, Canada, and the EU. The European […]

Fed Expected to Keep Rates Unchanged in May But Pick Pace in 2018

The U.S. Federal Reserve is set to hold interest rates steady this week but will likely further encourage expectations that it will lift borrowing costs in June on the back of rising inflation and low unemployment. Investors have all but priced out the chance of a rate hike at the end of the Fed’s two-day […]