British Pound (GBP) Outlook: Failing to Benefit From Global Risk On Sentiment
GBP price, news and analysis:
A rebound in global equities in New York Wednesday, followed by gains in Asia and early in Europe Thursday, suggests that investors are broadly positive about the markets.
Continuing weakness in the safe-haven US Dollar also suggests confidence, yet the British Pound is failing to benefit and still shows no sign of breaking above the psychological resistance at 1.40 on a consistent basis.
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GBP/USD challenged by 1.40 resistance
GBP/USD still seems unable to break through the psychologically-important 1.40 level on a consistent basis even though a rebound in stock markets worldwide and ongoing weakness in the safe-haven US Dollar suggest that investors are broadly positive about the global economic outlook and the markets.
World shares higher…Earth Day summit
BANGKOK (AP) World shares rose today after a broad advance on Wall Street as corporate earnings suggested the economy was on the mend from the pandemic. In early trading, Germany’s DAX climbed 0.5% and the CAC 40 in Paris picked up 0.8%. Britain’s FTSE 100 rose 0.3%. In Asian trading, Japan’s Nikkei 225 index closed 2.4% higher. Hong Kong’s Hang Seng rose 0.5%. In Seoul, the Kospi picked up 0.2%. The Shanghai Composite index fell 0.2%. On Wall Street, Dow and S&P 500 futures are less than 0.1% lower.
WASHINGTON (AP) President Joe Biden is prepared today to open a virtual global Earth Day summit with an ambitious pledge to cut at least in half the climate-wrecking coal and petroleum fumes that the U.S. pumps out. Biden hopes the commitment by the United States, along with similar ones from its allies, will spur China and other big polluters to move faster on cutting their own emissions. Biden is to tell dozens of world leaders at th
Inflation forces the Bank of Canada s hand ahead of Fed and ECB bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
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The European Central Bank kept its stimulus package and interest rates unchanged on Thursday as it pledged once again that the pace of purchases under its pandemic bond-buying programme will be “significantly higher” during the second quarter.
ECB president Christine Lagarde held the pandemic emergency purchase programme (Pepp) at €1.85 trillion ($2.3 trillion), following a €500bn boost in December, and reiterated that it will run until at least March 2022, or “until it judges that the coronavirus crisis phase is over”.
Read More The Governing Council expects purchases under the Pepp over the current quarter to continue to be conducted at a significantly higher pace than during the first months of the year, the ECB said in a statement on Thursday, repeating its guidance from March.
By Reuters Staff
13 Min Read
April 22 (Reuters) - Following is the text of European Central Bank President Christine Lagarde’s statement after the bank’s policy meeting on Thursday:
While the recovery in global demand and the sizeable fiscal stimulus are supporting global and euro area activity, the near-term economic outlook remains clouded by uncertainty about the resurgence of the pandemic and the roll-out of vaccination campaigns. Persistently high rates of coronavirus (COVID-19) infection and the associated extension and tightening of containment measures continue to constrain economic activity in the short term. Looking ahead, progress with vaccination campaigns and the envisaged gradual relaxation of containment measures underpin the expectation of a firm rebound in economic activity in the course of 2021. Inflation has picked up over recent months on account of some idiosyncratic and temporary factors and an increase in energy price inflation. At the same time, underly