Quiet start to the week for the foreign exchange market, to some extent due to the holiday in the US, where the markets are closed, but also because of the lack of impactful news; at least so far. The one exception to this rule, within the G10 currencies sphere, is the Pound, which is continuing its downward trend; down by almost 0.8% to the US dollar since market opening on Friday.
The weakness of Sterling is a result of a steady stream of headwinds, which included poor GDP numbers, dovish comments from members of the Monetary Policy Committee of the Bank of England and culminated on Friday with the publication of retail figures that were markedly below expectations. The pound is showing weakness because the UK’s economy is slowing down and a rate cut by the BoE is increasingly likely.
Photo by Nick Pampoukidis.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.