Exchange rate news_ pound falls vs euro and us dollar as commons approves article 50 bill _ euro exchange rate news
The Euro advanced against the Pound and US Dollar in response to the latest Eurozone news, while the US Dollar has slumped after a reported diplomatic incident involving the new President. Computer binary code Pound Sterling (GBP) Tumbles after Commons Vote, BoE Forecast
As well as the UK getting a step closer to Brexit, losses have also been caused by the UK construction PMI for January which fell from 54.2 to 52.2, a lower figure than forecast.
Regarding the Brexit news, MPs in the House of Commons voted by a majority to approve the Article 50 bill, which means that the bill is now onto the amendment stage, expected to take place next week.
As well as this lurch towards full Brexit concerning investors, the Bank of England (BoE) leaving interest rates on hold and issuing an ambiguous statement has also lowered demand for the Pound.
The BoE actually upgraded its inflation and growth forecasts for the future, although by less than some investors had been expecting.
Aud conversion to usd Euro Demand Rises on Inflation Implications, US Dollar Crashes on Trump Refugee Controversy
With Eurozone producer price indexes rising in December, the Euro has climbed against the Pound and US Dollar today due to the implied rise in inflation in the future.
The US Dollar has dropped against the Euro but risen against the weaker Pound today; domestic news has seen the Fed leave interest rates at 0.75% and adopt a hawkish tone on the nation’s economic outlook.
However, it is Donald Trump’s alleged hanging up on Australian PM Malcolm Turnbull that has most weakened the US Dollar today, with confidence in USD fading when Trump called a previously agreed refugee transfer scheme a ‘dumb deal’. Mxn to usd exchange rate Future GBP EUR USD Forecast: Pound Could Suffer after Friday Services PMI
The Pound is expected to round off its trio of negatively-forecast PMIs on Friday morning when the Markit services PMI for January has been forecast to drop from 56.2 to 55.8 points. Biliary duct system Should these expectations prove accurate, the Pound is expected to close trading on Friday in a poor position against both the Euro and US Dollar.
The Eurozone still has a significant contribution to make before the weekend, with Friday morning bringing Eurozone-wide retail sales stats along with composite and services PMIs.
The retail results have had mixed forecasts, as while a monthly rise from -0.4% to 0.3% is expected, a slowdown in sales from 2.3% to 1.8% on the year is also predicted.
For the US Dollar, Friday afternoon’s US data is set to be high-impact, covering non-farm payrolls and the unemployment rate in January, as well as composite, services and non-manufacturing PMI results.
The payrolls figures could boost the US Dollar as they are expected to rise from 156k to 175k, while unemployment could have little impact if it remains at 4.7% as forecast.
While the services and composite PMIs are forecast to rise, the more impactful non-manufacturing variant is conversely forecast to drop from 57.2 to 57, potentially weakening USD before the weekend. Aud to usd chart Current GBP EUR USD Interbank Exchange Rates
At the time of writing, the Pound Euro (GBP EUR) exchange rate was trending in the region of 1.17 and the Euro Pound (EUR GBP) exchange rate was trending in the region of 0.85.
The Pound US Dollar (GBP USD) exchange rate was trending in the region of 1.26 and the US Dollar Pound (USD GBP) exchange rate was trending in the region of 0.79 today.
The Euro US Dollar (EUR USD) exchange rate was trending in the region of 1.08 and the US Dollar Euro (USD EUR) exchange rate was trending in the region of 0.92 today. The millionaire tv show ‘Brexit’ EU EUR Euro Eurozone GBP GBP against the Euro Pound The Euro Trump UK US Dollar USD