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UK economy contracts 1.9%
The UK economy contracted -1.9% in the first quarter of 2009, more than economists expected with record declines in the manufacturing and service sectors. This news has sent the pound plunging against the...
0 commentsFed cautious on recovery
Federal Reserve chairman Ben Bernanke addressed Congress yesterday to give a cautious assessment of the US economy. Bernanke noted that while there are tentative signs of recovery in the US, there is not...
0 commentsUK budget released today
Pound Sterling – UK MarketsThe pound has weakened this morning against most of its international currency partners in the run up to the budget released today. The pound is trading in the vicinity of 1.45...
0 commentsSterling remains strong
The pound is currently trading at its best exchange rates this year against the US dollar and euro, driven by improved market confidence and demand for higher yielding currencies. Both the pound and euro have...
0 commentsEquities hit high
Equity markets in the US and UK touched on their highest level since November 2008 last week, following positive corporate earning figures in the US. However currency exchange rates remained little changed,...
0 commentsEurozone GDP contracts
GDP for the first quarter has contracted -2.5% in the eurozone, a figure in line with market expectations and one that takes the annual rate of decline to -4.9%. Exchange rates for many of the high yielding...
0 commentsEquity market stall
International currency exchange rates are relatively unchanged overnight and equity markets have paused from their three-month rally. Uncertainty over the sustainability of recent gains has forced a stall in...
0 commentsUK GDP -0.8
UK GDP figures for the second quarter show the economy contracted -0.8%, significantly more than markets expected. Weak GDP figures reflect the downturn across all sectors of the UK economy and will likely...
0 commentsMarkets open on a weak note
Currency exchange rates have opened on a weak note this morning as North Korean missile tests and concern over government debt levels led to a more neutral trend in equities. With US and UK markets closed...
0 commentsRisk aversion reigns
Exchange rates for the pound and euro are significantly weaker this morning as investors remain risk averse in the wake of downbeat US data last week. In the UK the service sector PMI has come in weaker than anticipated while investor confidence is...
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