Euro-area PMIs Surprise, but Swiss PMI Disappoints – Is an SNB Intervention Ahead?
Feb 1st
(eToro Blog) In the broader Eurozone area, the earlier release of Purchasing Managers’ Indices for January offered investors a few surprises, most welcome but one decidedly not. In the United Kingdom, the Office of National Statistics read for January’s manufacturing PMI was reported higher at 52.1 from a revised reading of 49.7 and besting the… Read more
Pound Sterling Traders Bullish Resolve Holds Despite Mixed Data
Jan 31st
(eToro Blog) Early this morning, the GfK Group released its key consumer confidence index for January, which is a gauge of confidence levels for the U.K.’s economic activity among the 2000 respondents. The reading improved to -29 from -33, beating analysts’ forecast of -32 yet far off the May “peak” of -21. The managing director… Read more
U.K. Edges Closer to Double Dip and OpenBook Goes Bearish on Sterling
Jan 25th
(eToro Blog) News that the U.K. economy is edging closer to a double-dip recession is putting pressure on the Pound Sterling, which fell against the U.S. Dollar to 1.5581. On the OpenBook, traders are primarily short the GBP/USD. Guru santosh, who is generally very attune to the U.K. economy, only managed to eke out a… Read more
OpenBook Traders Parlay U.K. Borrowing News into Gains
Jan 24th
(eToro Blog) We looked on OpenBook to see how our Sterling traders fared with the mixed bit of news on U.K. net borrowing, which was released earlier today. Sterling guru santosh has closed quite a few hedged positions in the GBP/USD pair over the past 24-hours, with a long closed out following the news release… Read more
Inflation Moderating Around the World
Jan 23rd
On Friday, the Canadian consumer price index printed at less than expected, coming in at negative 0.6% against an anticipated drop of 0.1%. The prior month’s CPI reading was an increase of 0.1%. Canada’s drop in inflation echoes trends seen around the globe. Although headline inflation in the US continues to increase at… Read more
U.K. Retail Sales Improve but Sterling Fails to Respond
Jan 20th
(eToro Blog) Among the eToro gurus who prefer to trade the Pound Sterling, trader santosh has continued to be bullish for the currency, recently closing out several long positions which eked out small percentile gains. It’s clear he has a strong conviction of the U.K. economy’s ability to overcome adversity, as he also holds nearly… Read more
OpenBook Traders Book Profits on Wall Street Gains
Jan 18th
(eToro Blog) Wall Street got a solid boost from the stream of positive economic releases as well as a report from the International Monetary Fund that it was looking to raise $500 billion to boost its lending funds. Despite a Euro rally that has extended into its second day, eToro gurus Hschinner and NMarijus had… Read more
Surprising Drop in U.K. Claimant Count Gives OpenBook’s Sterling Bulls Hope
Jan 18th
(eToro Blog) While not as overly scrutinized as say the United State’s non-farms payroll report, the report of the U.K.’s claimant count rate was no doubt being closely monitored by Sterling watchers, such as OpenBook trader santosh, who also happens to be a U.K. resident. Trader santosh, with more than 5,500 followers and nearly a… Read more
Outlook Brighter for U.K. Economy says Finance Minister
Jan 13th
(eToro Blog) According to George Osborne, the U.K. Finance Minister, there are plenty of reasons to be optimistic about the economic outlook in 2012, despite the growing threat of stagnation brought about by its Eurozone neighbor. In a recent address, Mr. Osborne highlighted the government’s efforts to reduce a record budget deficit in the face… Read more
Bank of England Holds Rates in Check, Holds off on More QE
Jan 12th
(eToro Blog) Earlier, the Bank of England announced that it would leave its key lending rate unchanged at 0.5%, as economists had widely predicted. The press release also noted that the Bank’s asset purchasing program would be maintained at £275 billion, also as expected by analysts. Minutes of the meeting will be published on January… Read more
