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GBP/CAD Forecast: Pound to Canadian Dollar Exchange Rate Heads Highers on UK Inflation Rate

GBP/CAD Forecast: Pound to Canadian Dollar Exchange Rate Heads Highers on UK Inflation Rate | Currency News UK ....

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Pound Euro Exchange Rate Falls as March's UK Services PMI is Revised Down

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.’ ....

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Pound to Euro (GBP/EUR) Exchange Rate Rises as Eurozone Construction PMI Falls Below Forecasts | Euro Exchange Rate News

GBP/EUR Exchange Rate Heads Higher as the Outlook for the Eurozone’s Economy Darkens
The Pound to Euro (GBP/EUR) exchange rate rose by 0.3% today, with the pairing currently trading around $1.108.
The Euro (EUR) suffered today after the latest Eurozone Construction PMI for December fell below forecasts to 45.5.
With the Eurozone’s construction sector declining for the tenth month, EUR investors are concerned about the bloc’s economic recovery going into 2021.
Usamah Bhatti, an economist at IHS Markit, commented:
‘Concerns surrounding the longer-term impact that the pandemic will have on the wider construction sector, alongside a lack of new projects in both the public and private sector being bought to tender resulted in an extension to the pessimistic outlook held by eurozone-based builders for a fifth month in a row.’ ....

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Euro to US Dollar Exchange Rate Rises as Demand for Safe-Haven 'Greenback' Slips on Stimulus Hopes

EUR/USD Exchange Rate Heads Higher as US Stimulus Hopes Weaken US Dollar
The Euro to US Dollar (EUR/USD) exchange rate rose to rose today, with the pairing currently trading around $1.227.
The Euro (EUR) rose against the US Dollar today as US stimulus hopes have limited demand for the safe haven ‘Greenback’.
Despite the delay in the US Senate’s vote on the increased stimulus relief checks, global markets are more optimistic that the pandemic relief programme will be accepted in the coming weeks.
Nonetheless, senior Republican Representative, Kevin Brady, was sceptical about the new stimulus, saying:
‘For me, I worry that this whopping $463bn won’t do what’s needed – stimulate the economy, or get the jobless back to work.’ ....

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Pound to Norwegian Krone (GBP/NOK) Exchange Rate Heads Higher as Oil Prices Drop on Covid-19 Fears

December 22, 2020 - Written by John Cameron
GBP/NOK Exchange Rate Rises as Dropping Oil Prices Weaken Norwegian Krone
The Pound to Norwegian Krone (GBP/NOK) exchange rate rose today, with the pairing currently trading around 11.645kr.
The Norwegian Krone (NOK) fell today owning to a fall from highs in oil prices this week, resulting in limited demand for the oil-sensitive Norwegian currency.
Oil trade is a strong driver of Norway’s economy, so tumbling oil prices has driven the NOK/GBP exchange rate downward.
In Norwegian economic data, October’s unemployment rate remained unmoved at 5.2%.
As a result, this has little impact on the Norwegian Krone as the outlook for the nation’s economy remains largely uncertain as Covid-19 cases rise throughout Europe. ....

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