April 29, 2021 - Written by John Cameron
GBP/NZD Exchange Rate Heads Higher on Upbeat UK Market Mood
The Pound New Zealand Dollar (GBP/NZD) exchange rate rose today as UK economic optimism has lifted on increasing job vacancies. The pairing is currently fluctuating around NZ$1.92.
As a result, the Pound has benefited from rising confidence in the outlook for the UK economy.
The Office for National Statistics (ONS) reported a rise in online job vacancies, which have hit their highest level since the beginning of the pandemic.
The ONS said:
‘The volume of UK online job adverts was at 103% of its average February 2020 level on 23 April 2021; this is an increase of 4 percentage points from the previous week and the first time it has exceeded its February 2020 average level since 6 March 2020.’
EUR/USD Exchange Rate Heads Higher on Positive German Economic Data
The Euro US Dollar (EUR/USD) exchange rate rose by 0.2% today after the publication of Germany’s Factory Orders figure for February, which rose by 1.2%. The pairing is currently fluctuating around $1.19.
Consequently, the EUR/USD exchange rate has benefited from growing confidence in the Eurozone’s largest economy.
AP news was also optimistic about the data, saying:
‘Germany’s economy did better than several others in the eurozone as it was supported by manufacturing, which has taken less of a hit than services during the pandemic.
‘German authorities haven’t imposed any shutdowns on industry during the crisis, but many restrictions on businesses such as restaurants, bars, hotels and leisure facilities remain in place.’
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February 22, 2021 - Written by John Cameron
GBP/USD Exchange Rate Heads Higher on UK Covid Vaccine Optimism
The Pound to US Dollar exchange rate rose by 0.2% today ahead of the unveiling of Prime Minister Boris Johnson’s lockdown exit plan. The pairing is currently trading around $1.40.
Boris Johnson is also expected to highlight new data that shows that Covid-19 vaccines has had a significant effect on transmission.
UK Vaccine Minister Nadhim Zahawi said:
‘Suffice to say the evidence looks good. The Oxford team demonstrated their own evidence of cutting transmission by two-thirds.’
This will offer a far more optimistic view about the reopening of the economy in the months ahead.
February 22, 2021 - Written by John Cameron
GBP/USD Exchange Rate Heads Higher on UK Covid Vaccine Optimism
The Pound to US Dollar exchange rate rose by 0.2% today ahead of the unveiling of Prime Minister Boris Johnson’s lockdown exit plan. The pairing is currently trading around $1.40.
Boris Johnson is also expected to highlight new data that shows that Covid-19 vaccines has had a significant effect on transmission.
UK Vaccine Minister Nadhim Zahawi said:
‘Suffice to say the evidence looks good. The Oxford team demonstrated their own evidence of cutting transmission by two-thirds.’
This will offer a far more optimistic view about the reopening of the economy in the months ahead.