IFX Market Report for 27/04/2012

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UK

GBPEUR traded at a high of 1.2284 and a low of 1.2218. With no UK data out today we can expect a similar trading range today.GBPUSD hit a low of 1.6154 overnight, having hit an 8 month high of 1.6208 during yesterday morning. Price continues to hover above the key level at 1.6170 this morning, the trading range for the coming weeks is likely to remain between key support at 1.5880 and key resistance at 1.6300.

The UK Financial Services Authority Chairman Adair Turner will speak today and he is expected to suggest that the euro zone’s two bailout funds should be used to recapitalize the currency union’s stricken banks.

The UK public’s expectations for inflation in the coming year rose in April, presenting the Bank of England with an awkward policy dilemma for the recession-hit economy.
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WORLDWIDE

Credit rating agency Standard and Poor’s downgraded Spanish credit ratings by two notches yesterday, saying that it expects further deterioration of the country’s public finances amid economic contraction and the need to support banks.

Spanish PM Mariano Rajoy commented yesterday that the country’s ability to fund itself is at risk and that budget cuts are necessary due to an unmanageable deficit, also have not helped matters.

Eurozone economic confidence declined notably in April, wiping out the gains logged in the first quarter. The data fell more than expected to 92.8 from a revised 94.5 in March.

The weaker than expected Eurozone economic confidence report helped the US dollar to rebound from a 3-week low versus the Euro posting a low of 1.3202. Although general feeling is of Euro strength now it has broken key resistance at 1.3236, the trading range for the coming sessions is expected to stay between key support at 1.3005 and key resistance at 1.3385.

Pending home sales in the US rose by much more than anticipated in the month of March. The index rose by 4.1% in March when expectations were for a modest 1.0%.

New claims for US unemployment benefits dipped slightly in the third week in April coming in at a seasonally adjusted level of 388,000.

Overnight, the Bank of Japan decided to add further monetary stimulus to the economy through enhanced purchases of the government bonds, stepping up its efforts to boost economic growth and fight deflation. The Central Bank’s policy board unanimously voted to increase the total size of its asset purchase program by JPY 5 trillion. GBPJPY jumped from 130.17 to 131.72 within minutes of the news being released and has since steadily traded back down towards 130, the pair is currently residing at 130.51.

The Swiss Institute for Business Cycle Research (KOF) leading indicator for April was released this morning at 0.40 having been expected at 0.26. After the data, the Swiss franc weakened against most major currencies, GBPCHF moved from 1.4695 up to 1.4772 after the news.

Daniel Fountain / 26.04.2012

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.