Daily Forex Brief

Friday 21st February 2014 9:13:58 am (GMT)
Daily Forex Brief
The Daily Forex Brief is written by FxPro's team in the City of London. Visit fxpro.co.uk for more news, FX commentaries, FxPro TV, real-time feeds, calculators and tools.

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Finance ministers and central bank governors of the G20 nations are meeting in Asia over the weekend at a time when monetary policy is becoming ever more crucial for FX markets. In the early part of the financial crisis, everyone seemed to be moving in the same direction, in other words rates moving down. Now, we're seeing much greater divergence, both in expectations and actual rates, which is causing more trends in currencies. The ECB has been easing and may do more next month. Expectations on the UK have shifted dramatically over the past 6 months towards earlier tightening.
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Flash Markit/HSBC PMI fell to a seven-month low of 48.3
20th February 2014 @ 02:07 GMT
Flash Markit/HSBC PMI fell to a seven-month low of 48.3 in February from January's final reading of 49....
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19th February 2014 @ 19:11 GMT
FOMC minutes show participants waiting updated guidance soon. EURUSD dropped 15 pips and now trading at 1.3740...Upcoming Webinars
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Bank of England keeps digging
12/02/14 @ 12:21 GMT by Simon Smith, Chief Economist
The Bank of England is in a hole and instead of climbing out, it has continued to dig. Recall, when forward guidance was introduced 6 months ago, there were several knock-outs, which allowed the Bank 'wiggle room' around its new 7.0% threshold level on the unemployment rate, above which rates would continue to be kept low. Six months on, with unemployment having moved close to the 7.0% level far faster than anyone anticipated, the Bank has introduced a lot more complexity to the policy outlook.

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