by Stephen Chapman
MSite, a workforce management platform for the construction industry, has been acquired by the Infobric Group.
The Liverpool-based company has become a wholly-owned subsidiary of the group and will retain its current brand and existing workforce.
“MSite has trail-blazed digital workforce management in the UK Construction space for 20 years, but our ambitions have always been to be a global company,” explained Neil Norman, CEO at MSite.
“By joining the Infobric family we have that opportunity to expand our reach whilst continuing to be at the forefront of the digital revolution underway in construction. I am incredibly proud and excited to take our team and MSite to the next stage of our journey.”
May 6, 2021 - Written by John Cameron
GBP/JPY Exchange Rate Rangebound as Japanese Economic Optimism Returns
The Pound Japanese Yen (GBP/JPY) held steady today after the Bank of Japan (BoJ) revealed that it was optimistic about Japan’s vaccine rollout. The pairing is currently trading around ¥151.92.
The Japanese Yen failed to gain against the Pound today despite yesterday’s modest but notably more bullish BoJ monetary policy minutes report.
The BoJ minutes said:
‘Some members said while the beginning of vaccine rollouts was a positive sign, developments regarding the pandemic continue to warrant attention.’
However, the Bank also warned:
April 8, 2021 - Written by John Cameron
GBP/CAD Exchange Rate Falls as Outlook for Canadian Economy Improves
The Pound Canadian Dollar (GBP/CAD) exchange rate fell today following a surge in the latest Canadian Ivey PMI data for March, which beat forecasts and rose to 72.9. The pairing is currently fluctuating around CA$1.73.
The Canadian Dollar (CAD) has benefited from the Ivey PMI jumping to a 10-year high as this indicates a rebounding economy.
Analysts at Reuters commented on the data:
‘The seasonally adjusted index rose to 72.9 from 60.0 in February, surpassing analysts’ expectations for 60.5. It was the highest level for the index since March 2011 and the second highest since the PMI was launched in 2000.’
April 7, 2021 - Written by John Cameron
GBP/EUR Exchange Rate Sinks as UK Markets Become Increasingly Cautious
The Pound Euro (GBP/EUR) exchange rate fell by -0.8% today after the UK’s Services PMI for March was revised lower due to a decrease in business activity. The pairing is currently fluctuating around €1.15.
Tim Moore, Economics Director at IHS Markit, commented on the data:
‘UK service providers were back in expansion mode in March as confidence in the roadmap for easing lockdown restrictions provided a strong uplift to new orders. Total business activity increased at the fastest rate since August 2020 and this return to growth ended a four-month sequence of decline.’
March 4, 2021 - Written by John Cameron
GBP/CAD Exchange Rate Steady as Canadian Economic Data Buoys Confidence in Economy
The Pound to Canadian Dollar (GBP/CAD) exchange rate rose held steady today, with the pairing currently fluctuating around CA$1.76.
The Canadian Dollar held steady against Sterling despite rising oil prices buoying confidence in Canada’s commodity-reliant economy.
OPEC Secretary-General Mohammad Barkindo commented:
‘Both the global economic outlook and oil market prospects show signs of continued improvement. The headwinds of uncertainty that shocked and disrupted the market last year continue to abate.’
Yesterday also saw the release of the latest Canadian GDP data for December, which fell below forecasts at 0.1%.