What are virtual currencies? European Banking Authority (EBA) regards virtual currencies as being a digital representation of value that is neither issued by a central bank or a public authority nor necessarily attached to a regular currency, but is accepted by natural or legal persons as a means of payment, and can be transferred, stored […]
This week starts off with the markets in somewhat of a quandary over what to do with the Pound. Over recent weeks we have seen Sterling drop away from the multi-year highs it had achieved, following various negative data releases from the UK economy. The overall position is still very strong though, with unemployment and […]
Simont Braun’s Digital Finance Team has published a newsletter on Virtual Currency (such as bitcoins-, its characteristics, its relation with e-money and the necessity(?) to create a regulatory framework in this respect. Please find the the full article on http://www.simontbraun.eu/images/pdf/News/Virtual_Currency_in_Belgium_eng.pdf Digital Finance News on Virtual Currency
With the inflation surge and erosion of their currency, Latin American countries, such as Argentina and Venezuela, are using price caps and currency controls to control the hyperinflation that was created by the failed financial policies of the last several decades. The currency control restrictions have created a “parallel” or “black” market currency […]
This week has been somewhat topsy turvy on the currency markets, especially for those of you starting with Sterling. Initially the Pound weakened as lower than anticipated inflation data caused interest rate rise expectations to go further onto the backburner, but then the Bank of England minutes came out showing that in fact two of […]
Last week the pound dropped further from its recent peaks against all its major currencies as the sellers start to take over the market for the short term. A dovish inflation report from the Bank of England has changed short term sentiment for the pound with many agreeing that the pound was over priced at […]
Yesterday was a relatively quiet day in the way of data with no releases of major note. In the morning we saw a raft of Eurozone CPI data all of little consequence and interestingly al coming in as expected. It was only the German and Eurozone ZEW economic survey results that came in under expectation […]
Regular readers will be aware the pound has recently begun a negative correction following such a strong rally in the last 6 months. These turn in fortunes leaves the pound very far more vulnerable to selling and this was demonstrated in yesterday’s trading as the pound dropped 1% from its high of the day. The […]
Monday was a fairly flat day in the currency markets as the week started with hardly any data releases, certainly none of any key importance. Early morning retail sales from Switzerland showed growth of 3.4 percent which although a massive improvement on the expected 0.3 percent growth, did little to benefit the Swissy. On the […]
The last couple of days have mainly been a story of inconsistency in the performance of the UK economy. On Tuesday we had some significantly better than expected Services PMI figures out, which caused the Pound to strengthen quite markedly across the board, and then yesterday we had some industrial and manufacturing data out, which […]
Sterling has had a tough couple of weeks, slowly slipping away from its peaks seen in July with an absence of supporting data. Sterling had lost 2 cent against the Euro and 3 cents against the Dollar at Friday’s close and looked toward further PMI data this week for a recovery. Figures have not disappointed […]
Friday was not a good day for the Pound. As many analysts had been warning, it might only take a piece of negative data to topple a resurgent sterling, and with the US Dollar starting to gain strength in the markets, we saw worse-than-expected UK manufacturing figures for July act as the catalyst for one […]