Pound (GBP) Exchange Rate Rallies, But Will Wage Figures Derail Sterling’s Recovery?
However Sterling could face a notable obstacle this morning as economists forecast today’s employment figures will reveal that UK wage growth slowed in March.
GBP/EUR Exchange Rate Stabilises as Investors Unfazed by Prospect of New Italian Government
The Pound Euro (GBP/EUR) exchange rate held steady at the start of this week’s session as markets appeared to shrug off any concerns over the prospect of a new populist government coming to power in Italy.
While the idea of a party formed by the Eurosceptic anti-establishment Five Star Movement (M5S) and the far-right League would normally be seen as Euro (EUR) negative, it appears investors were just relieved to see an end to the political deadlock which followed March’s general election.
GBP/USD Exchange Rate Climbs as US Yields Slide
The Pound US Dollar (GBP/USD) exchange rate ticked higher yesterday as the Dollar was undermined by sliding US treasury yields, driven by expectations the Federal Reserve may strike a more cautious tone towards rate hikes throughout the remainder of 2018.
Meanwhile USD investors are poised for a potential dip in the US Dollar this afternoon as analysts predict US retailers will report domestic retail sales growth slowed in April.
GBP/CAD Exchange Rate Muted as Oil Prices Hold Steady
The Pound Canadian Dollar (GBP/CAD) exchange rate struggled to find any traction at the start of this week’s session amid the continued rise in oil prices, with the crude-correlated ‘Loonie’ being buoyed as Brent Crude prices held above $77 a barrel.
GBP/AUD Exchange Rate Ticks up as RBA Expresses Concern over Wages
The Pound Australian Dollar (GBP/AUD) exchange rate edged higher overnight on Monday, with the ‘Aussie’ weakening as the minutes from the latest Reserve Bank of Australia (RBA) policy meeting, revealed the bank’s outlook on wage growth to be pretty gloomy.
GBP/NZD Exchange Rate Surges as New Zealand’s Service Sector Slows
The Pound New Zealand Dollar (GBP/NZD) exchange rate roared higher on Monday as markets reacted to the latest New Zealand Services PMI, with the index plummeting from a thirteen-month high of 58.6 to 55.9 in April.