IFX Market Report for 13/08/2012

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UK

On Friday, the UK showed UK PPI Input m/m rose to 1.7% in July, less than the expected 2% rise by economists. Following the release of the UK factory output price figures for July at 930am on Friday, sterling was little changed against most major counterparts, trading at 1.2694 against euro and 1.5591 against the US dollar. GBPEUR traded at a low of 1.2691 on Friday, showing a high of 1.2771. This morning it is trading around 1.2750 and with strong support in place at 1.2716, sterling has a platform to test the next resistance at 1.2794 today.

GBPUSD saw a low of 1.5577 and a high of 1.5700, this morning we have seen markets open slightly lower at 1.5677. Two sets of support are in place at around 1.5500 and the technical resistance starts at 1.5733 so we can expect the start of this week to remain relatively range bound.
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WORLDWIDE

Industrial production in France remained unchanged in June, as factory activity continued to be subdued by the euro area debt crisis and adds to the outlook that the Eurozone’s second biggest economy may have slipped into recession in Q3.

US import prices unexpectedly decreased in the month of July, although the report also showed an unexpected increase in export prices. Upon release of the data, the dollar was trading at 1.5597 against the pound and 1.2260 against the euro.

EURUSD edged lower on Friday, extending its setback from its monthly high of 1.2442 at the beginning of the week, as disappointing Chinese data sparked risk aversion and boosted the greenback across the board. We saw a new low of 1.2242 by the end of Friday’s European session. This rally is currently testing resistance around the 1.2300 area. Already this morning we have seen a high of 1.2301, a break above 1.2323 at close could spark a new rally.

Canada’s unemployment rate rose to 7.3% in July from 7.2% in June. It was an unexpected decline as the market was expecting an increase of 9,000 payrolls with the unemployment rate remaining at 7.2%. GBPCAD saw a subsequent high of 1.5573 after the release.

Japan’s GDP added just 0.3% in the second quarter of 2012 compared to the previous three months, suggesting that the recovery from the March 2011 earthquake and tsunami remains stuck in neutral. FTSE 100 futures are trading lower this morning as a result and GBPJPY is currently trading at around 122.70 after a low of 121.67 over the weekend.

Further evidence that Asian markets are struggling emerged this weekend after Hong Kong expanded less-than-expected in Q2. Falling demand elsewhere continues to weigh on the economy’s exports, prompting the government to cut the growth forecast for the full year. GBPHKD is currently trading at 12.14 after a low of 12.02 at the end of July.

Daniel Fountain / 12.08.2012

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.