Latest FX Market Reports

Meryvn talks, Sterling tumbles. The BoE cut its growth forecast from 1.2% to 0.8% citing the on-going debt crisis as the biggest threat to the recovery of the UK. Mervyn King said the Eurozone is “tearing itself apart without any obvious solution”.

My elderly next door neighbour could have told us that. This isn’t the only reason that the UK economy won’t return to pre-financial levels before 2014 as inflation won...

EUR/USD continues to plunge. My end of week forecast of being in the 1.27s has come around a little quicker than I thought. We’ve been as low as 1.2684 in early European trade this morning.

The downtrend still remains however I expect a lot of resistance around the 1.2630/50 level (where we bounced last time around mid-January). If however, further negative EUR news p...

Investors are now viewing a Greek exit as increasingly likely. With political dynamics shifting, a new Greek Government will have to interact with left wing parties that will call for a renegotiation of Greek terms with the Troika.

I see a breakdown in said negotiations leaving Greece cut off from funding and thus, in all likelihood, result in a break from the single currency and usher in a new national curre...

EUR/USD broke through the 1.29 level in the Asian session overnight. We’re now settled below the figure as I suggested on Friday. It’ll try and break the technical level of 1.2875 now. There’s been resistance at this level and I’d expect a retracement back up to near the 1.29 level this morning after a 30 pip move down from the Asian opening.

What’s the next move on EUR/USD? I’d suggest we’ll now push to the lower 1.28s in upcoming trading sessions. We had German wholesale prices out first thing thi...

EUR/USD tested 4 month lows overnight in the Asian session hitting 1.2905. As I said yesterday I see no reason for optimism on the EUR. Is there a solution to the debt crisis? Answers on a postcard please. On the EUR/USD pair we’ll have a few attempts at 1.29 as there’ll be resistance at the figure however I fully expect us to push through with the next target level being 1.2875.

We’ve had a small retracement on the pair back to the 1.2920 level on the back of inflation figures released by Germany this morning. CPI rose 0.2% MoM and 2.1% YoY. Both abo...

EUR/USD has broken through the 1.30 barrier and hit the 1.2910 level in yesterday’s trading. In the overnight Asian session the pair was capped at 1.2968 and there’s been further downside pressure in early London trading. We’re currently quoting around the 1.2940 level.

I see a further push lower with a break below 1.2910 opening the gates to the next target level of 1.2875. I don’t see any reason for optimism on the EUR. Perhaps fundament...

Our dear old friend Greece is back in the headlines. The EUR has weakened for the seventh day in a row against the US Dollar and I see this bearish trend continuing. It’s hard to be anything but bearish on EUR. Greek politicians are struggling to form a new Government and the prospect of Greece withdrawing from the single currency is a worryingly real possibility now.

With the baton being passed from the New Democracy leader Antonis Samaras after failing to form a Govt at the weekend to Alexis Tsipras, the head of the second biggest party, Syr...

Yesterday was a bit of a disappointment with the currency markets quite flat even though there was some key data released. The ECB kept interest rates on hold at 1% which meant there was no great fall in the Euro that may have come with a rumoured interest rate cut.

There will be growing pressure on the ECBto take some action over the coming months with current austerity measures notenough to stop Spain or Italy from slipping back into reces...

Sterling continues its move higher against the US Dollar for an eighth consecutive day after a sharp fall in early European trading yesterday

After the release of disappointing GDP figures out of the UKyesterday (-0.2% against expected figure of +0.1%) GBP came off sharply andretraced back down to the 1.6080 level. The i...

In the past week GBP has rallied to 19 month highs against a basket of currencies.

Where now for Sterling? In the past week GBP has rallied to19 month highs against a basket of currencies with strong gains against the USDollar and EUR. This has been on the back o...

All eyes will look to the Bank of England today to see if there is any change to interest rates and more importantly the Quantitative Easing program.

Currently the UK’s QE programme sits at £325Bn and there have been calls by several members of the MPC to increase this further by the tune of another £50Bn...

GBP/USD is fighting a battle between the 1.58 and 1.60 level. From a high of 1.60 Cable retraced into Wednesday trading and posted a close of 1.5888.

We’ve had a slight uptick on the pair overnight and into theEuropean session pushing back into the lower 1.59s. Will it hold at these levels? I think GBP will come und...