ProgressiveFX.co.uk

The week closed with risky assts; GBP, EUR, AUD inparticular rebounding in a fairly unconvincing manner from recent lows after several days of predominately downside volatility as concerns intensified over the state of the global economy, weak commodity prices and fears of the viability of the US and UK banking sector in the absence of further Government support.

In the UK, the Labour Government is under increasing pressure to more effectively tackle the collapse ...

Recent days have seen a return to deep pessimism that even an historic Obama inauguration could not lift. UK bank shares have collapsed further with RBS now down from around 650p to 13p in just 2 years. Without UK government intervention is it quite possible the bank along with HBOS may have disintegrated on a lack of liquidity and enormous bad debt exposure. GBP has fallen to new multi-year lows against the Dollar as speculators shorted the UK currency unsure of the liability the U...

The pound made a nervous start to the week, Rightmove House Price Index came out better than expected at -2.3% m/m versus the prior reading of -2.9%. While the number were initially supportive for sterling house prices are still expected to fall which capped any benefit the numbers provided. Cable trade was dictated by the crosses with EUR/USD creating markets trends for the pound. President Bush failed to provide markets with a clear decision on the bail out of US car maker...

Sterling is more than 3% lower against the dollar and over 2% lower against the euro. This reflects market reaction to the yesterday?s Bank of England Quarterly Inflation Report, and subsequ...

Market focus this week has been squarely on the European Central Bank and the Bank of England MPC meetings, both of whom had their monetary policy meeting this week, and the U.S presidential Elections. The U.S made history on Wednesday as Barack Obama becoming the new President elect. Equity markets reacted favourably to the election results which placed...

Sterling

The pound has virtually collapsed against the majors shedding over 14% of its value against the U.S Dollar and 6.5% against the EUR this week.

The pounds woes began when markets opened to lower than expected Housing and business confidence figures. Rightmove House Prices index posted a year-on-year drop in prices to -4.9% from -3.3%, while a business confi...

In the present economic climate confidence has taken center stage in driving market movements. The unilateral decision to cut global interest rates by 50 basis points and a move, spearheaded by Gordon Brown, that has seen governments taking an equity stake in financial institutions has done little to quell fears within the markets.  Equity markets posted some of the biggest losses in 21 years with the FTSE falling 7.2% and shedding over £125b...

At the brink of systematic meltdown or the buying opportunity of a lifetime? That is the question investors are faced with during these chaotic times and in the absence of an internationally co-ordinated, immediate and comprehensive sponsored solution, the clever money, if there is still such a thing, would lean towards to the former depressing scenario. But the team at ProgressiveFX, whilst not wishing to embrace rose-tinted spectacles believe that a confidence bu...