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The pound surged past $1.40 for the first time in almost three years. According to Bloomberg, the rise was fueled by optimism of U.K's rapid vaccine rollout, which could pave the way for an economy reopening this year. The pound is projected to enter the sixth week of gains after the U.K hit targets of immunizing its top four priority groups by February 15.Petr Krpata, a … [Read more...] about Pound’s Bullish Run Takes it Past $1.40 for First Time Since 2018

Eurozone Manufacturing PMI rose to a 36-month high of 57.7 in February, up from 54.8 in January, according to IHS Markit press release. The manufacturing strengths helped to offset the weakening service sector, whose activity index fell to a 3-month low of 44.7 from 45.4 in January. Flash Eurozone PMI Composite Output Index rose to a 2-month high of 48.1 in February from … [Read more...] about EU Manufacturing Rises to a 36-Month High. Offsets Service Sector Weaknesses

U.K flash Composite Output Index hit a 2-month high of 49.8 in February, up from January’s 41.2, according to IHS Markit press release. Service Business Activity Index reached a 4-month high of 49.7, up from January’s 39.5 to signal recoveries from the sharp downturns at the start of the year. Despite the rise in service activity, U.K recorded a slump in manufacturing … [Read more...] about U.K Composite Output Index on a 2-Month High as Service Activity Stabilizes

U.K retail sales in January 2021 fell by 8.2% from December on tighter nationwide coronavirus restrictions, according to the Office of National Statistics press release. The retail sales volumes were 5.5% below the pre-pandemic levels in February 2020. All sectors recorded a slump in sales volumes in January 2021 except for non-store retail and food stores which gained … [Read more...] about U.K Retail Sales Slips 8.2% on COVID-19 Impacts