|Bid||4.49 x 0|
|Ask||4.50 x 0|
|Day's range||4.47 - 4.60|
|52-week range||3.58 - 6.77|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Sterling fell against the dollar on Wednesday as the U.S. currency strengthened on the back of rising Treasury yields, while traders remained cautious ahead of British first-quarter economic growth numbers due on Friday. The release will be the last key data issued before the Bank of England's Monetary Policy Committee meeting early next month, and markets are split over whether the central bank will raise interest rates. Governor Mark Carney dented confidence that a rate hike would happen when he said last week that Britain's economic data was "mixed" and that there were several other MPC meetings later this year.
As the global shift towards higher interest rates moves up a gear, attention is turning to Europe's two major central banks. Current market pricing strongly suggests the Bank of England will tighten further and faster than European Central Bank. Having hiked rates once last year to counter a slump in the pound and the resulting rise in inflation, the BoE (Shenzhen: 000725.SZ - news) is further down the road of policy "normalization" than the ECB, albeit only slightly.
The pound gained on Monday, breaking a five-day losing streak, after news about a possible takeover of a British pharmaceutical company encouraged investors to put concerns about the British economy to one side. Weaker-than-expected wage growth and inflation data and comments last week from the Bank of England that sowed doubt over a May interest rate hike triggered a selloff in sterling which slid to its lowest since mid-March in early trading.
In that regard, markets will scrutinize Friday's UK GDP. A miss would indicate further declines in inflation, which may move BoE hawks such as McCafferty and Saunders to dial back rate-hike rhetoric. With Brexit fears and UK political uncertainty reduced, the BoE's rate policy is likely to be the prime determinant of GBP/USD in the near-term.
Sterling fell on Tuesday to its lowest since mid-March, its sixth consecutive daily fall, as the dollar rebounded and investors worried about the performance of the British economy. April has historically proved to be supportive for the pound because of a seasonal rise in capital inflows into Britain from foreign companies paying UK shareholders dividends.
* PREVIOUS TRADING SESSION MOVES: * SSEC -0.1 pct, CSI300 +0.2 pct, HSI -0.5 pct * HK- Shanghai Connect daily quota used 11.2 pct * HK- Shenzhen Connect daily quota used 7.5 pct * CNY official close ...
Sterling fell to a one-month low on Monday as the dollar rebounded across the board thanks to firmer U.S. Treasury yields while governor Mark Carney's comments last week raised doubts on the likelihood of an interest rate increase next month. With (Other OTC: WWTH - news) no breakthrough in sight for the Irish border issue and first-quarter GDP data due Friday, foreign exchange markets are braced for further weakness in the pound in a month which has historically proved to be supportive for the British currency. "It is hard to see where sterling finds support in the short term as Brexit headlines haven't been very supportive recently and there is dollar strength across the board," said John Marley head of FX strategy at Infinity International, a currency risk management firm in London.
April 23 (Reuters) - BOE Technology Group Co Ltd : * SAYS ITS Q1 NET PROFIT DOWN 16.3 PERCENT Y/Y AT 2.02 BILLION YUAN ($320.01 million) * SAYS ITS 2017 NET PROFIT UP 302 PERCENT Y/Y AT 7.57 BILLION YUAN ...
Sterling slipped to a two-week low against the dollar on Monday as investors questioned whether the Bank of England would raise interest rates in May following weaker-than-expected economic data and cautious comments from governor Mark Carney. The pound has been one of the best performing major currencies in 2018 and last week surged to its highest level since the Brexit referendum in June 2016.
Expectations among the British public for higher interest rates in the near future cooled in mid-April, even before comments from Bank of England Governor Mark Carney last week muddied the outlook, a survey showed on Monday. The IHS Markit Household Finance Index showed 28 percent of Britons expected the BoE (Shenzhen: 000725.SZ - news) to raise rates over the next three months, down from 33 percent in March. Only 7 percent said they expected a rate hike in May - a view in sharp contrast to economists polled by Reuters earlier this week, most of whom expected rates to rise to 0.75 percent from 0.5 percent.
April 22 (Reuters) - BOE Technology Group Co Ltd : * SAYS IT IS UNAWARE NOR HAS IT RECEIVED ANY OFFICIAL INFORMATION REGARDING BEING SANCTIONED BY THE U.S., CLARIFYING REPORTS * SAYS COMPANY OPERATING ...
World stock markets dipped as worries about a global slowdown in smartphone demand dented the technology sector, while oil prices fell after U.S. President Donald Trump sent a tweet criticizing OPEC and then mostly recovered. Trump's tweet, in which he called prices "artificially Very High!", sent crude futures tumbling, but they stabilized a bit later.
World stocks dipped on Friday as worries about a global slowdown in smartphone demand dented the technology sector, while oil prices dipped and then recovered after U.S. President Donald Trump sent them lower with a tweet criticizing OPEC. "Looks like OPEC is at it again," Trump tweeted, saying oil prices were "artificially Very High! No good and will not be accepted!" Crude futures dipped after the tweet, but recovered and settled slightly higher, set for a second straight week of gains.
World stocks dipped on Friday amid weakness in the energy sector and as worries about a global slowdown in smartphone demand dented the technology sector, while oil prices fell after U.S. President Donald ...
German government bond yields were set for their biggest weekly rise since the beginning of February after a surge in oil prices forced inflation expectations and euro zone bond yields higher. Euro zone bond yields hit fresh highs on Friday and are now well above their levels at the start of the week after a sharp sell-off prompted by Brent crude prices hitting their highest in more than three years at $74.75 a barrel on Thursday.
Sterling fell half a percent to a fresh two-week low against the dollar on Friday after Bank of England Governor Mark Carney signalled that the central bank may not raise interest rates in May because economic data was "mixed". Investors had this week pushed the pound, one of the best performing major currencies in 2018, to its highest level since the Brexit referendum in June 2016, in part because of growing expectations the BoE (Shenzhen: 000725.SZ - news) would increase rates next month to curb inflation.
Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May, pointing out there were also "other meetings" this year. "I don't want to get too focused on the precise timing, it is more about the general path," Carney told the BBC. Carney described recent economic data as "mixed".
The Bank of England should avoid taking a "glacial" approach to interest rate rises, one of the central bank's more hawkish policymakers said on Friday, after markets pushed back expectations for the date of its next rate rise. Michael Saunders - one of two officials to vote to raise interest rates last month - said growing domestic inflation pressures and a solid growth outlook meant "our foot no longer needs to be so firmly on the accelerator". Sterling fell to a three-week low against the dollar after his comments, and on Friday interest rate swaps priced in a less than 50 percent chance of a rate rise in May, which would be only the second from the BoE since the financial crisis.
The range of views about interest rates among members of the Bank of England's Monetary Policy Committee may be no wider than usual, BoE (Shenzhen: 000725.SZ - news) policymaker Michael Saunders told reporters on Friday. Financial markets scaled back bets that the BoE will raise rates after its next meeting in May, following remarks from BoE Governor Mark Carney late on Thursday when he said recent data had been "mixed", and noted a range of views among officials. "I don't know if there is a greater range of views on the MPC at the moment," Saunders told reporters after giving a speech at the University of Strathclyde.
The Bank of England should raise interest rates gradually, not glacially, and no longer needs to keep its foot firmly on the accelerator at a time of rising domestic inflation pressure, BoE (Shenzhen: 000725.SZ - news) policymaker Michael Saunders said on Friday. Saunders voted for a rate rise in March and said signs since then of a soft first-quarter economic performance were of "questionable" importance, given the role of bad weather and a history of upward revisions to first-quarter growth in past years. Earlier on Friday, financial markets heavily discounted the chance of a rate rise at next month's policy meeting, after BoE Governor Mark Carney told the BBC that recent data were mixed and indicated differences of view on the MPC.
British government bond prices jumped on Friday, reflecting investors' doubts about a May rate rise after Bank of England Governor Mark Carney raised doubts about this in a BBC interview broadcast late ...
Financier George Soros' Open Society Foundations will close their office in Budapest and move their eastern European operations to Berlin, media reports suggest. This, if confirmed, comes after an aggressive campaign led against the NGO by the recently re-elected Hungarian Prime Minister Viktor Orban, which has targeted the pro-liberal group as part of its crackdown on migration. Orban is out this morning with a robust statement to the effect that he won't be shedding a tear at the departure of the group and issuing a call to a June summit of EU leaders not to take any further steps on migration policy.
Expectations of a UK interest rate increase in May has shrunk to around 40 percent from 70 percent earlier this week after Bank of England Governor Mark Carney dampened widespread expectations of a hike next month. Bond markets are now only pricing in about 10 basis points of rates hikes in May from 17 basis points earlier this week, according to estimates derived from the swap markets. Because the BoE (Shenzhen: 000725.SZ - news) generally raises interest rates in increments of 25 bps, this suggests expectations for a rate hike in May are around 40 percent.
* PREVIOUS TRADING SESSION MOVES: * SSEC +0.9 pct, CSI300 +1.2 pct, HSI +1.4 pct * HK- Shanghai Connect daily quota used 27 pct, Shanghai- HK daily quota used 4.1 pct * HK- Shenzhen Connect daily ...
Bank of England Governor Mark Carney said on Thursday he did not want to focus too much on the precise timing of interest rate hikes from the central bank, ahead of a closely watched policy decision next month. Sterling touched its lowest level against the U.S. dollar since April 9 on the back of the comments, in which Carney highlighted "mixed" economic data. "I don't want to get too focused on the precise timing, it is more about the general path," Carney told BBC news, but adding that a rate hike this year was "likely".