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Day: January 24, 2017
January 242017
British Pound Falls Following Supreme Court’s Ruling on Triggering Article 50
The British pound dropped against its major peers on Tuesday, after UK Supreme Court ruled that Theresa Mayâs government needs a parliamentary vote to be able to trigger Article 50. The ruling, which decides the future road of the nationâs exit from the European Union, was decided by the majority of the court. The decision, which was handed down at 9:30 GMT, means that the UK government cannot proceed with departing from […]
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January 242017
British Pound Falls Following Supreme Court’s Ruling on Triggering Article 50
The British pound dropped against its major peers on Tuesday, after UK Supreme Court ruled that Theresa Mayâs government needs a parliamentary vote to be able to trigger Article 50. The ruling, which decides the future road of the nationâs exit from the European Union, was decided by the majority of the court. The decision, which was handed down at 9:30 GMT, means that the UK government cannot proceed with departing from […]
Read more
January 242017
EUR/USD Ends Three-Day Rally
The eurozone released a bunch of Purchasing Managers’ Indexes today, which were decent for the most part. Yet that did not prevent EUR/USD from falling on Tuesday, halting the three-day rally. As for US data, manufacturing indicators were very good, while the existing home sales report was disappointing. Markit manufacturing PMI rose from 54.3 in December to 55.1 in January. Analysts had predicted just a small increase to 54.6. (Event […]
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January 242017
Turkey’s Central Bank Raises Interest Rates, Lira Unimpressed
The Turkish lira slid today even though Turkey’s central bank raised some of its interest rates, including the key Marginal Funding Rate. The Central Bank of Republic of Turkey increased its main interest rate from 8.5% to 9.25% and the lending rate from 10% to 11%. The one-week repo rate and the borrowing rate remained steady at 8% and 0% respectively. Apparently, markets had anticipated a stronger move from the central bank […]
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January 242017
Turkey’s Central Bank Raises Interest Rates, Lira Unimpressed
The Turkish lira slid today even though Turkey’s central bank raised some of its interest rates, including the key Marginal Funding Rate. The Central Bank of Republic of Turkey increased its main interest rate from 8.5% to 9.25% and the lending rate from 10% to 11%. The one-week repo rate and the borrowing rate remained steady at 8% and 0% respectively. Apparently, markets had anticipated a stronger move from the central bank […]
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January 242017
Hungarian Forint Falls After Policy Meeting
The Hungarian forint fell today after Hungary’s central bank preserved its extremely loose monetary policy and hinted that it can make the policy even more accommodative if it is required. The Magyar Nemzeti Bank left its main interest rate at the record low of 0.9%. Other rates also remained without change. The bank said in the statement that it has capacity for additional monetary easing: The Magyar […]
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January 242017
Hungarian Forint Falls After Policy Meeting
The Hungarian forint fell today after Hungary’s central bank preserved its extremely loose monetary policy and hinted that it can make the policy even more accommodative if it is required. The Magyar Nemzeti Bank left its main interest rate at the record low of 0.9%. Other rates also remained without change. The bank said in the statement that it has capacity for additional monetary easing: The Magyar […]
Read more
January 242017
EUR/USD Falters Despite Release of Positive Markit PMI Data on the Eurozone
The euro weakened slightly against its major peers despite the release of positive Markit PMI data earlier today. The Markit PMI data indicated that there was positive growth in the Eurozone, but this was not enough to stop the European Central Bank to abandon its loose economic policies. Market sentiment towards the euro remained bearish as the currency lost ground briefly against the US dollar, the British pound and the Japanese […]
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January 242017
EUR/USD Falters Despite Release of Positive Markit PMI Data on the Eurozone
The euro weakened slightly against its major peers despite the release of positive Markit PMI data earlier today. The Markit PMI data indicated that there was positive growth in the Eurozone, but this was not enough to stop the European Central Bank to abandon its loose economic policies. Market sentiment towards the euro remained bearish as the currency lost ground briefly against the US dollar, the British pound and the Japanese […]
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