IFX Market Report for 20/08/2012

150 150 Daniel Fountain
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UK News

GBPUSD remained range bound on Friday posting a high of 1.5738 and a low of 1.5675. As the afternoon progress the pair approached the 1.5668 support level as positive US data helped the dollar. The pound has strengthened over the weekend to open back over 1.57, with no significant data out today the pair is likely to be traded on risk sentiment only, the next key resistance level to watch for is 1.5732 and support still remains a t 1.5668.GBPEUR started the day falling from 1.2720 as the euro continued to strengthen, the pound found support at 1.2690 before comfortably moving above 1.27, finishing at 1.2744 for the day. The pound opened today just over 1.27 with support seen at 1.2694 and resistance on the upside at 1.2758.

Ratings agencies Moody’s and Fitch have again warned that they may downgrade the UK from triple-A status if government borrowing and debt rose higher than forecast – which looks increasingly plausible

According to Rightmove, UK home sellers cut asking prices by a record for the month of August after the London Olympic Games and an uncertain economic outlook distracted potential buyers. Average asking prices in England and Wales fell 2.4% from July, when values declined 1.7%, also dropping 1.2 % in London.
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International News

On Friday in the US, Preliminary Consumer Sentiment, a leading indicator of consumer spending unexpectedly rose to 73.6 against a forecast of 72.5 leading to the US dollar strengthening against most of the majors in afternoon trade.

EURUSD started the day at 1.2345 and quickly rose to 1.2365 as Spanish bond yields edged lower again to 6.48% helping the single currency. The trend reversed after the US consumer data release and the pair fell to a low of 1.2309 near the end of Friday’s trading. Over the weekend the euro has strengthened to open Monday’s around 1.2350 approaching resistance levels of 1.2380 and 1.2428.

According to a report by Bloomberg, German Chancellor Angela Merkel seems to be considering relaxing Greek bailout conditions. Lately, Germany has been divided by two opposite poles that may compromise Greece’s future within the Eurozone or lead to further policy easing and growth attempts

Global share markets continue to confound conventional wisdom and are once again trading up on the day. Resilient share markets often correlate with a weakening off of the safe haven US dollar.

Canada’s consumer price index advanced 1.3% in July versus a 1.5% gain last month. The Canadian Dollar declined against its US counterpart for the first time in four days to $1.0111 as inflation slowed, adding to evidence the nation’s economy is moving away from full capacity

Australia’s dollar declined against all of its major peers after the nation’s treasury said the central bank would be able to ease monetary policy if the currency’s gains are hurting the economy. It currently trades at 1.5065 against the pound.

Emerging nation Brazil has announced plans to indulge in a Keynesian-style demand expansion scheme, which will see over US$60bn spent over the next quarter of a century on the country’s infrastructure.

This morning, the Leading Economic Index in Japan that shows the performance of the Japanese Economy over the short and mid-term came out at 93.2 compared to a previous figure of 95.2

Daniel Fountain / 19.08.2012

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.