IFX Market Report for 23/04/2012

150 150 Daniel Fountain
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UK
GBPEUR posted a high of 1.2247 during Friday’s session. The pair traded at a low of 1.2192 before the better than expected UK Retail Sales data at 9.30am, sterling then strengthened in the afternoon on Friday and has since reopened today above the 1.22 levels. UK
GBPEUR posted a high of 1.2247 during Friday’s session. The pair traded at a low of 1.2192 before the better than expected UK Retail Sales data at 9.30am, sterling then strengthened in the afternoon on Friday and has since reopened today above the 1.22 levels.

GBPUSD traded around the 1.6050 until the release of the Retail Sales, sterling proceeded to gain throughout the day and posted a high of 1.6149, and has fallen back below1.61 this morning. Again, the key level for GBPUSD to break now is 1.6165 for further upside potential, until such time we could see this pair remain range bound between the strong support at 1.60 and the resistance at 1.6165.

Focus this week for the UK is the release of the Preliminary GDP figures for Q1, being released on Wednesday morning at 9.30am. Expected to post a 0.1% growth from last quarter’s -0.3%. If we post another negative we are technically in a recession.
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Worldwide
During Friday’s session EURUSD initially posted a low of 1.3127 and rallied throughout the day echoing GBPUSD movement to eventually post a high of 1.3227. However the pair has since fallen and currently resides around the 1.3150 levels finding support around 1.3130.

According to the National Association for Business Economics’ April survey released today, companies are growing more upbeat about the US economy this year and plan to take on more workers as demand improves. 78% of businesses, the most in a year, project the economy will expand more than 2% in 2012. This is up from 65% in the January report.
The US has several high tier data releases this week with Consumer Confidence, New Home Sales and Unemployment Claims all due out. However the two releases of particular note are the FOMC rate statement and press conference Wednesday evening and the Advanced GDP reading on Friday expected at 2.6% from a previous 3.0%.

Results from the first round of French elections yesterday showed that Francois Hollande won 28.6% of the vote against 27.1% for Sarkozy. Hollande’s victory may mean a collapse of the strong cooperation seen previously between Sarkozy and German Chancellor Angela Merkel. The second ballot takes place on May 6th. French bond yields climbed last week, reflecting investor concern that Hollande may relax the nation’s deficit-tackling policy if he takes office.

As global finance chiefs talks ended yesterday in Washington, European Central Bank President Mario Draghi argued the ECB have done enough to stem the debt crisis by cutting interest rates and issuing more long-term bank loans.

The International Monetary Fund Managing Director Christine Lagarde secured $430bn in pledges for the IMF. The meetings ended yesterday in Washington with a doubling of its war chest but worryingly also exposed a number of conflicts among its 188 members. Lagarde fell short of her original $600bn goal as the US declined to chip in, while Canada proposed making it harder for Europe to tap aid.

Eurozone Manufacturing PMI was released this morning at 46.0, forecast was for 48. This figure represents a 5 month low. Eurozone services PMI also fell below forecast of 49.4, posting 47.9.

German Manufacturing PMI fell significantly in April, down to 46.3 from 49.0 in March. This reading was the lowest seen since July 2009. The Services sector remained upbeat in April though, posting 52.6 from 52.1 in March.

AUD weakened after Producer Price Index unexpectedly fell last quarter, adding to expectations the Reserve Bank will cut interest rates.

The preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, rose to a two-month high of 49.1 in April compared with a final reading of 48.3 in March.

Daniel Fountain / 22.04.2012

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.