![]() ![]() It is unlikely that European markets will dodge the fall-out from this price action," says Bill McNamara, head of The Technical Trader. equity market lost further ground overnight as investors took fright at dire results from the retail sector, and on fears that rising inflation and higher interest rates might well tip the country into recession. S&P 500.Ībove: Direction in the FTSE 100 offers a good explainer for the Pound to Euro exchange rate's movement. Sterling rose against the Euro and Dollar in the first half of the week when global stock markets were ascendent but a turnaround in sentiment midweek coincided with a paring of those gains, confirming the global macro backdrop has a strong hold of the UK currency.Īs the below chart shows the Pound has a strong positive relationship with the FTSE 100, which is in turn trading more or less in synch with its global peers meaning the FTSE 100 could be substituted for Germany's DAX or the U.S. Headline grabbing wage and inflation data out of the UK this week has had an impact on the British Pound, however it could be global investor sentiment that is arguably proving more decisive and a bear market could prompt further declines. GBP will begin to outperform - Morgan Stanley. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |