IFX Market Report for 24/04/2012

150 150 Daniel Fountain
  • 0

UK
In early trading yesterday USD held firm against GBP’s rise above 1.61; however, following talks by MP member Fisher, GBPUSD moved back to a high of 1.6134 and has since this morning traded up to the resistance at 1.6150. The upside target to close above is still 1.6165.
GBPEUR began the day at 1.2214 before sterling gained to 1.2271 at 4pm as the market digested economic information released from the Eurozone. Markets this morning have opened around 1.2255.
The FTSE lost 2% following worries within the Eurozone and investor flight to the safety of German bonds.

The level of mortgage lending to first time buyers has risen by 30% from February. Lending ending rose to £13.4bn from £10.3bn in February, and from £11.4bn a year ago.

The BoEs quarterly report shows an increase in cost of borrowing for businesses. These costs are broadly linked to an increased risk of default, and higher wholesale funding tariffs.

UK public sector net borrowing was expected to have increased to £15.0bn from February’s figure of £9.9bn. The actual figure was over £15.8bn.
________________________________________

Worldwide
French, German and Dutch governments face a backlash for their austerity measures. The Stoxx Europe 600 index sank 2.3% on disappointing European data.

The composite output index of French Business shows a shrinking of output to 46.8 in April from 48.7 in March. Markit Economics suggest that that this drop was led by a slump in the French services sector

The ECB has said there is no chance of the issuance of joint obligation Euro Bonds because Germany would not support it.

Credit rating agency Moodys have warned Holland that the collapse of their current government would threaten their AAA credit rating.

In the absence of any notable USD data yesterday, EURUSD traded between a closer range of only 42 points between the high and the low of the European trading session. Trading from 1.3143 and 1.3101 and closing the session at 1.3131 yesterday. EURUSD has opened significantly higher this morning and already tested resistance levels at 1.3181.

German exports rose 2% in Q1 whilst imports declined. This leads to expectations of a trade surplus. The Deutsche Bundesbank says that whilst the economy is in good health, it lacks momentum.

According to ANZ analysts, it is now certain that the Royal Bank Australia will cut interest rates. Following a 0.1% rise in CPI and core inflation the question now is whether the RBA will cut by 50 basis points immediately or strategically cut by 25 this month and 25 next.

AUD lost 2 cent overnight. GBP has risen from a price of 1.5537 at the start of the week and peaked overnight at 1.5694.

25th April is a bank holiday in both for NZD and AUD

Daniel Fountain / 23.04.2012

Editor, Hotel Designs

Share

  • 0

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.