IFX Market Report for 30/07/2012

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UK

GBPUSD hit a high of 1.5768 during Friday’s session, with risk appetite returning to the market. The currency pair continue to trade above 1.57 this morning but have fallen from the highs echoing the EURUSD trading pattern this morning. Cable looks set to test resistance at 1.5800, a failure to break this level could spark a decline back to support at 1.5585.GBPEUR had a volatile trading day Friday, as the UK afternoon trading session started to draw to a close we saw the pair fall to post a low of 1.2698 however this morning the pair are currently trading around 1.2780 price having posted a high of 1.2795 already.

Markets will be paying attention to economic data releases from the UK this week ahead of the Bank of England Interest rate meeting being held this Thursday, for decisions on further quantitative easing and interest rates.

Hometrack Ltd said UK house prices fell in July for the first time this year and may extend their decline as a deepening recession curbs demand for homes.

With no high impact data being released today from the UK and States and only one piece at 8am from the Eurozone, markets will be trading on risk sentiment.
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WORLDWIDE

ECB President Mario Draghi, who sparked a global market rally last week by pledging to do whatever it takes to preserve the euro, is trying to build consensus among governments and central bankers for a plan to ease borrowing costs in Spain and Italy before ECB policy makers convene on Thursday. He meets with US Treasury Secretary Timothy Geithner in Frankfurt today and is also attempting to win over Bundesbank President Jens Weidmann, a critic of ECB bond purchases. Berlin, Paris and Rome have already endorsed Draghi’s approach, echoing in his language that they too will do what is needed to protect the euro.

EURUSD hit highs of 1.2388 Friday against lows of 1.2242, showing how volatile the currency pair is trading recently. Currently the pair is trading around 1.2270, having fallen from the high of 1.2306 set earlier this morning. Any upside momentum requires a break above 1.2348 resistance.

Representatives of the European Commission, the ECB and the IMF; the so-called Troika, will remain in Greece for as long as needed in order to determine the €11.6bn worth of consolidation measures needed over the next three years. The Troika had originally planned to leave Athens at the end of July.

Spanish GDP was released this morning to post a figure of -0.4% against a forecast -0.4% figure from last month’s -0.3%.

US GDP figures Friday fell in-line with expectations, posting a figure of 1.5% adding the volatile trading experienced last week.
German Consumer Prices rose as expected data showed on Friday posting the 0.4% gain month-on-month. This leaves the annual rate at 1.4% which was also as expected.

Friday’s reading of July’s final University of Michigan Consumer Sentiment figure posted a reading of 72.3 vs the 72.0 forecasted and previous month June’s reading of 73.2.

Daniel Fountain / 29.07.2012

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.