http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-11-18.htmlWe had several pieces of big news last week, the headline grabbers were US unemployment jumping to 10.2%, the BoE Quarterly Inflation Report and the news our friends spending the single currency had exited the recession. The week began with concerns over the recovery in the US with unemployment posting higher than expected. This added fuel to the argument regarding the greenback status as the global reserve currency and is a debate that refuses to go away. We have had further mutterings fromWed, 18 Nov 2009 07:59:04 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-11-18.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-11-03.htmlThe schizophrenic nature of markets was again illustrated by sterling’s contrasting performance from the beginning to end of the week. The hangover from last Friday’s shock negative GDP sent the pound into a nosedive against both euro and dollar. This was in spite of talk that the dollar was under the cosh. Euro, as ever, maintained its position as the pick of the trio and even touched 1.5050 against the dollar. Its position was helped by comments from Chinese officials indicatingTue, 03 Nov 2009 13:07:23 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-11-03.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-27.htmlLast week was shaping up to be alright for the pound. The beleaguered sterling was making inroads against both the euro and dollar whilst extending against the G10 basket as well. It wasn’t spectacular; it wasn’t extravagant; in fact it was really quite British in its lack of exaggeration. But obviously channelling the strength of our cricket team the pound, after a promising start, collapsed on Friday erasing all the gains it had strived so hard to acquire and the disappointment indeedTue, 27 Oct 2009 07:27:44 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-27.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-20.htmlLast week was turbulent. We began the week with ominous news from the CERB regarding sterling interest rates. They predicted that interest would remain below 2% until at least 2014 and that sterling’s valuation would fall below parity against the euro. All scary stuff and it rightly set the tone for a seasonally spooky week for all sterling sellers. With such fundamental measures of a currencies value such as interest rate predictions signaling that all is not well it was imperative thatTue, 20 Oct 2009 09:48:40 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-20.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-06.htmlThe stalls have been set out. The General Election is, at the most, 9 months away and with the final convention for one of the main parties taking place this week we want to take a look at the economic focus of what the leaders will be promising and whether the hot air will help to inflate or melt sterling’s value. There are a plethora of issues that affect our national wellbeing; crime, education, the NHS, defence, immigration etc. The economy however is, rightly so, predicted to dominate theTue, 06 Oct 2009 12:01:58 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-10-06.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-09-02.htmlSterling suffered another minor onslaught last week to finish August as the weakest performing G10 member, as the euro and dollar eroded its value with a combination of negative domestic news and better than expected news from outside the UK. A midweek reading showing that business investment had shrunk dramatically for the quarter stoked fears that initiatives to stimulate the UK economy were failing to filter through to the wider economy and helped spur the pounds decline over the week. TheWed, 02 Sep 2009 06:17:37 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-09-02.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-25.htmlMilton Friedman once wrote that “too late and too much has been the general practice”, describing the actions of central banks in the past. Last week’s Bank of England minutes revealed how keen the committee is to learn from previous lessons, with the results showing that not only had the Monetary Policy Committee (MPC) decided to proactively expand the asset purchase scheme by £50bn, but that they were split 6-3 on whether to deliver further stimulus. Mervyn King, the Bank of England’sTue, 25 Aug 2009 07:49:37 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-25.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-18.htmlThe dollar was the main benefactor of a week packed with data, once again dominated by the actions of central banks. Capitalising on the carryover of sentiment from a positive nonfarm payrolls figure, the US currency enjoyed some early week strength, while the Fed rate decision gave further impetus for the greenback. The FOMC decision on rates was as non eventful as they come, with the expected announcement that interest rates and the Quantitative Easing program would remain unchanged causingTue, 18 Aug 2009 06:34:48 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-18.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-12.htmlThe week started very well for sterling as the carryover from last week’s optimistic US GDP data, and the previous Friday’s large levels of institutional fixing set a platform that launched sterling into its highest levels of the year. Global equities rallied, with the S&P hitting 1000 for the first time since September, and FTSE at its highest levels of 2009. ‘Risk on’ was the cry, and sterling benefited early week, breaking into the 1.70’s for a period. Moreover, UK Manufacturing PMIWed, 12 Aug 2009 10:29:01 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-12.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-05.htmlRisky trades continued to dominate last week, with the pound closing the week at lofty highs of 1.67 and 1.17 against the dollar and euro respectively after a week of encouraging data and earnings releases.The US dollar was firmly on the back foot, as the move towards risky assets and currencies means it is continuing to fight an uphill battle. GDP data revealed that the second quarter of the year was better for the States than economists predicted, falling 1% compared to a consensus view ofWed, 05 Aug 2009 07:40:50 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-08-05.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-28.htmlRisky assets rallied last week as hopes of a global recovery surged, and fears of any further financial pandemonium continued to diminish. Currency and equity markets reacted to this sentiment, as risky currencies were rewarded and safe havens sold off. The pound and its risky counterparts the commodity currencies pressed further north, while the dollar, Yen and franc suffered. What the markets are witnessing is a turnaround in sentiment from the dark days of late last year. Marie Curie onceTue, 28 Jul 2009 06:59:33 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-28.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-22.html“Without continual growth and progress, such words as improvement, achievement, and success have no meaning” – Benjamin Franklin Positive growth figures from China helped energise global equities throughout the week, with bourses also driven higher by reassuring earnings reports from US banks, spurring investors back into risky asset classes worldwide. The FTSE had its best week of the year after reports from Goldman Sachs and JP Morgan pushed banking stocks higher around the globe, the US’sWed, 22 Jul 2009 07:49:09 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-22.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-07.htmlThe second half of 2009 started in similar fashion to the first, with equities, commodities and risky currencies retreating, and investor’s favourite safe haven, the US dollar, strengthening. Sterling was undermined by a far weaker than expected revision of GDP for the first quarter of 2009, showing that the UK economy shrank by 2.4% (consensus was 1.9%). ISM services figures also revealed the first fall in seven months. The euro was steady, with the ECB holding interest rates, yet hintingTue, 07 Jul 2009 12:42:49 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-07-07.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-06-24.htmlThe pound was dealt a reality check last week, after retail sales figures disappointed and policy makers warned of further pain to come. Thursday’s figures revealed a slump in consumer spending for the last month causing an immediate selloff of the pound, which finished the week marginally up against the dollar and euro. Equities were driven down by 2% over the week, with the FTSE weighed down by banking and mining stocks. A dovish result for the Bank of England minute’s midweek also took someWed, 24 Jun 2009 08:12:00 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-06-24.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-06-03.html“Our greatest glory is not in never falling, but rising every time we fall”. Perhaps sterling took some inspiration from Confucius, China’s famous ancient philosopher, as last week the pound surged to multi month highs against the dollar and euro, a far cry from the lows of 1.36 and 1.02 reached just months ago. Sterling concluded the month of May recording its best monthly performance against the dollar since the mid 80’s. Last week saw worldwide sentiment continuing to provide a positiveWed, 03 Jun 2009 10:10:35 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-06-03.htmlhttp://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-05-19.htmlLast week was a quiet one on the fundamental economic data front, and as such the currency market looked to equities to lead the way again. The week was a particularly strong one for Sterling, not because it made vast amounts of ground, but because it was able to consolidate at certain technical levels that indicate it could push further up, particularly against the important adversaries of the greenback and euro. Although there was a dearth of data in the lead up to Easter, we did start theTue, 19 May 2009 14:16:33 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/weekly-world-market-update/2009-05-19.html