IFX Market Report for 08/08/2012

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UK

GBP opened Tuesday’s trading over the 1.56 mark against the US dollar and climbed throughout the day on the background of better than expected, but still poor, manufacturing figures from the UK. GBPUSD managed to climb to a high of 1.5684 before settling at1.5645 when markets closed.GBP rallied back from a lacklustre previous day and advanced to maintain the range-bounce price action carried over from June, but the Bank of England inflation report today may install a bearish outlook for the GBPUSD as market participants expect the central bank to lower its forecast for growth and inflation.

Official data showed yesterday output from the UK’s industrial sector collapsed in June, posting its sharpest drop in more than three-and-a-half years as the extra public holidays during the month appeared to weigh on production.

GBPEUR showed a very tight trading range yesterday. Opening at 1.2572, the pair only managed a day’s high of 1.2618 before settling back at 1.2590 towards the close of trade. GBPEUR opens this morning much unchanged at 1.2592.
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WORLDWIDE

EURUSD opened the markets at 1.2423 seeing a brief drop below 1.24 to the day’s low of 1.2396 before holding a steady position for most of the afternoon closing trade close to the day’s high of 1.2442.

The US Dollar and the Japanese Yen declined in overnight trade as Asian stocks advanced, denting demand for the safe haven currencies.
Canada’s dollar gained to a three-month high against its US counterpart as risk appetite increased and crude oil, the nation’s biggest export, rose.

The euro rose against the yen and dollar after Germany supported European Central Bank President Mario Draghi’s proposals to stem the region’s debt crisis. Euro gains were supported as the European Union said it had received no requests for the region’s rescue fund to buy government bonds.

Draghi outlined a plan last week under which the ECB may buy debt of struggling euro-bloc countries in tandem with the region’s bailout fund, while saying the details still need to be worked out over the coming weeks.

The euro held gains even after Germany’s Economy Ministry in Berlin said factory orders dropped 1.7 % from May, when they rose 0.7 %. Economists projected a 0.8 % decline.

Australia’s dollar rose to the strongest since March against the US dollar after the Reserve Bank said current policy settings were “appropriate.” RBA Governor Glenn Stevens and his board said in a statement the nation’s growth was close to trend.

The Swiss National Bank’s foreign- currency reserves surged to a record in July as the euro region’s increasing turmoil forced policy makers to step up their defence of the franc ceiling. The franc rose 0.2% to 96.70 centimes per dollar and was up to 1.20184 per euro.

Daniel Fountain / 07.08.2012

Editor, Hotel Designs

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Fun fact: I’m usually the person friends rely on to organise trips, schedules, and group plans.

Workhighlights: Successfully coordinating events from planning through to delivery and seeing everything come together on the day.

Fun fact: I’m a keen cyclist and will happily bore people with copious amounts of cycling chat. My top cycling experience (so far) would have to be riding in the spectacular mountains of Crete.

Work highlights: Charles joined Forum Events in 2022. With a background in publishing, editorial media and events, Charles brings a wealth of experience to his role as Senior Production Manager. Having being involved with SPACE from the outset, he is excited to see the brand grow and develop.

Fun fact: People tell Sienna she gives off Bridget Jones vibes, and she loves to bake, always making sure there are shortbreads floating around the office

Work highlights: Sienna joined Forum Events & Media Group while studying Communications and Media, starting in the sales team where she managed and helped launch the first the PA Life Leading Venues of London SHOWCASE, where she built relationships with luxury venues across the capital. Drawn to the stories behind these spaces, she naturally transitioned into the editorial team, creating social media and editorial content. Upon graduating in June 2026, she is excited to be joining as Assistant Editor for Hotel Designs and SPACE.

Fun fact: When not working, Jess can usually be found tending to her kitchen garden in the Sussex countryside or foraging for herbs in the nearby woods. A keen grower, she recently studied a RHS Level 2 Diploma in the Principles of Horticulture during her spare time.

Work highlights: Jess joined SPACE magazine in 2022 and has since progressed from Assistant Editor to Editor. During this time, she has worked across many aspects of the publication – from shaping editorial strategy and overseeing operations to contributing to art direction and representing the brand on stage at industry events including Surface Design Show and WOW!house.

Alongside her role at SPACE, Jess has built a creative career spanning the arts, culture, design and travel sectors. Prior to joining the magazine, she spent more than a decade in the commercial art industry, in artist liaison, gallery management, and curating collections for the hospitality sector across hotels and cruise ships. During this time, she also worked on freelance projects as a writer, photographer, and creative content producer.
 
Jess studied photojournalism at London College of Communication and the Danish School of Media and Journalism and holds a first-class BA (Hons) in Culture, Criticism and Curation from Central Saint Martins.

Fun fact: Katy has spent years perfecting all kinds of accents and loves a good impersonation!

Work highlights: Katy has been with Hotel Designs since the beginning, way back in 2015 when Forum Events & Media Group acquired the brand.

During this time, she has fostered many meaningful relationships with clients from across the hospitality spectrum, as well as playing a pivotal role in the launch of The Brit List Awards, Hotel Designs MEET UPs, client-led roundtables and panel talks, brand and website redesigns, HD Wellness Sets, DESIGN POD podcast, Hotel Designs LIVE panel talk series, Accessible Design Talks and more. Katy is always on the lookout for the next opportunity to help grow the Hotel Designs brand even further.
 
Most recently Katy has stepped in to the role of Publisher at SPACE magazine, the printed bi-monthly publication focused on hotel design, architecture, and development.

Together these platforms offer a comprehensive 360-degree service encompassing digital media, print publishing, and live events – providing unparalleled value to advertisers, partners, and readers alike.