Seeking Alpha
 

iPath GBP/USD Exchange Rate ETN (GBB)

- NYSEARCA
  • May. 21, 2014, 4:42 AM
    • U.K. retail sales grew at the quickest rate since May 2004 in April, jumping +6.9% on year vs +4.8% in March and beating consensus of +5.2.
    • On month, sales +1.3% vs +0.5% and consensus that was also +0.5%.
    • Excluding fuel, sales +1.8% vs +0.1% and +0.5%; on year, sales +7.7% vs +4.9% and +5.3%.
    • While the U.K. government will probably welcome the figures, the data may place a doubt on hopes of shifting the economy away from consumption. (PR)
    • Meanwhile, the Bank of England's Monetary Policy Committee voted unanimously, as expected, to keep interest rates at 0.5% and against more quantitative easing at a meeting earlier this month, the minutes of the meeting show. (PR)
    • The pound jumps and is +0.4% at $1.6913, while the FTSE is -0.2%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • May. 20, 2014, 4:42 AM
    • U.K. inflation climbed to 1.8% on year in April from 1.6% in March and exceeded consensus of 1.7%.
    • On month, CPI rose to +0.4% from +0.2% and topped forecasts of +0.3%.
    • Core inflation +2% on year vs +1.6% and +1.8%.
    • "Increases in transport costs, notably air fares, sea fares and motor fuels, provided the largest contribution to the rise in the rate," the statistics office says, with the timing of Easter "likely to have had an impact." A drop in food prices "was the largest offsetting factor." (PR)
    • Factory output prices (PPI) flat on month vs +0.2% and +0.2%. (PR)
    • The pound is +0.1% at $1.6836, while the FTSE 100 is -0.4%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • May. 14, 2014, 6:16 AM
    • The U.K.'s unemployment rate fell to a 5-year low of 6.8% in Q1, says the Office for National Statistics today, giving more fuel to those calling on the Bank of England to hike rates. "Record low interest rates are increasingly unnecessary,” says Rob Wood, an economist at Berenberg Bank and a former BOE official.
    • The BOE, however - in its May inflation report released after the unemployment print - acknowledges the rebounding economy, but says more slack needs to be absorbed and reiterates its low-rate pledge. The outlook for inflation in the medium-term remains benign, says BOE Governor Mark Carney.
    • The pound slips vs. the dollar, down 0.25% and buying $1.6786.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • May. 9, 2014, 5:13 AM
    • U.K. industrial production -0.1% on month in March vs +0.8% in February and consensus of -0.2%. On year, output +2.3% vs +2.5% and +2.4%.
    • Manufacturing production +0.5% on month vs +1% and +0.3%. On year, output +3.3% vs +3.9% and +2.9%. (PR)
    • Total trade deficit £1.28B vs £1.71B in February.
    • Goods trade deficit £8.48B vs £8.75B in February and consensus of £9B. (PR)
    • The pound slumps from earlier highs and is -0.15% at $1.6907, while the FTSE 100 is -0.4%.
    • ETFs: EWU, EWUS, FKU, DXPS, DBUK, FXB, GBB
    | Comment!
  • May. 8, 2014, 7:10 AM
    | Comment!
  • May. 6, 2014, 10:27 AM
    • The British pound continues a major bull run with today's excuse to buy being the Markit Services PMI rising to 58.7 in April from 57.6 previously. Up 0.75% vs. the greenback this session, cable now buys $1.6994 - about a 5--year high.
    • Has it already been ten months since Mark Carney took over at the Bank of England with near-universal expectations for further monetary ease and cable trading at less than $1.50? Instead, markets saw a hawkish lean from Carney and improved economic numbers.
    • The FTSE 100 - at least for today - looks like it prefers a weaker currency, -0.3%
    • FXB +0.7%
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | 2 Comments
  • May. 4, 2014, 8:30 AM
    • Should Pfizer acquire AstraZeneca and move its HQ to the U.K. to take advantage of the country's friendly tax regime, the company could be joined by scores of others.
    • Accounting giants KPMG, PWC and EY are working with over 250 companies combined about relocation to the U.K., which changed its rules last year to only tax income generated in Britain unless it is "artificially diverted" from the country. In addition, the tax rate is due to fall to 20% next year, while the U.K. also provides generous R&D tax breaks.
    • The trend could help Britain in its attempt to rebalance its economy.
    • See also
    • U.K. ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | 5 Comments
  • May. 2, 2014, 5:42 AM
    • U.K. construction PMI dropped to 60.8 in April from 62.5 in March and missed consensus of 62.
    • Housing activity growth was close to a 10-year high, says Markit, and while the rate of overall expansion was the weakest in six months, the construction sector still grew sharply.
    • The pound is -0.1% at $1.6882 and the FTSE 100 is +0.1%. (PR)
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • Apr. 23, 2014, 4:36 AM
    • The Bank of England's Monetary Policy Committee voted unanimously, as expected, to keep interest rates at 0.5% and against more quantitative easing at a meeting earlier this month, the minutes of the meeting show.
    • Meanwhile, the U.K.'s Public Sector Net Borrowing dropped to £4.86B in March from £7B in February and was well below consensus of £9.1B. (PR)
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • Apr. 16, 2014, 4:40 AM
    • U.K. unemployment for the three months to February fell to 6.9% from 7.1% previously and came in under forecasts that were also 7.1%.
    • Average earnings including bonuses accelerated to +1.7% from +1.4% but missed expectations of +1.8%. Still, the figure brings wage growth in line with inflation of 1.7% after a long period in which salary rises remained well below CPI growth.
    • The pound spikes and is +0.2% at $1.6802, while the FTSE is +0.4%. (PR)
    • ETFs: FXB, EWU, GBB, FKU, EWUS, DXPS, DBUK
    | Comment!
  • Apr. 9, 2014, 2:21 PM
    • The greenback hits session lows across the board following the dovish tilt to the FOMC minutes, with the takeaway being members seemed in less of a hurry to hike rates than the spin following the policy statement and Yellen press conference that day in mid-March.
    • Higher on the session are the euro (FXE +0.4%), pound (FXB +0.1%), swissie (FXF +0.1%), aussie (FXA +0.2%), and loonie (FXC +0.4%). Flat on the session after being down earlier is the yen (FXY -0.2%).
    • UUP -0.3%
    • Dollar ETFs: UUP, UDN, DBV, FORX, UDNT, UUPT, USDU
    • Related currency ETFs: FXE, FXY, FXA, EUO, YCS, FXB, ERO, JYN, GBB, DRR, CROC, YCL, EUFX, ULE, URR, GDAY
    | Comment!
  • Apr. 8, 2014, 4:41 AM
    • U.K. industrial production +0.9% on month in February vs flat in January and consensus of +0.3%. On year, output +2.7% vs +2.8% and +2.2%.
    • Manufacturing production +1% on month vs +0.3% and +0.3%. On year, output +3.8% vs +3.2% and +3.1%.
    • The pound is +0.5% at $1.6698, while the FTSE 100 is -0.3%. (PR)
    • ETFs: EWU, EWUS, FKU, DXPS, DBUK, FXB, GBB
    | Comment!
  • Apr. 1, 2014, 5:14 AM
    • U.K. manufacturing PMI fell to 55.3 in March from 56.2 in February and missed consensus for a rise to 56.7.
    • "Growth is merely hot rather than scorching, and the take home messages from the March survey are that the recovery remains solid and continues to drive strong job creation," says Markit.
    • Although the economy is still "all-too reliant on domestic consumers," that the manufacturing sector is healthy and is creating jobs at a high rate shows that "the re-balancing process is underway," Markit adds.
    • The FTSE 100 is +0.4%, while the pound takes a dive and is -0.1% at $1.6651. (PR)
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • Mar. 27, 2014, 5:42 AM
    • U.K. retail sales +1.7% on month in February vs -2% in January and consensus of +0.5%. On year, sales +3.7% vs +3.9% and +2.5%.
    • Excluding fuel, sales +1.8% on month vs -2% and +0.3%; on year, sales +4.2% vs +4.4% and +2.8%.
    • The pound jumps and is +0.25% at $1.6622, while the FTSE is -0.3%. (PR)
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • Mar. 25, 2014, 5:39 AM
    • As expected, U.K. CPI has fallen further away from the Bank of England's 2% target, dropping to 1.7% on year in February from 1.9% in March.
    • "The largest contribution to the fall in the rate came from transport (principally motor fuels), with other smaller effects from the housing & household services and clothing & footwear sectors," the U.K. government says.
    • On month, CPI recovered to +0.5% from -0.6% and vs +0.5% consensus.
    • Core CPI +1.7% on year vs +1.6% and +1.6%. (PR)
    • Factory output prices (PPI) flat on month +0.3% and +0.2%. (PR)
    • The pound is flat at $1.6498, while the FTSE 100 is +1.1%.
    • ETFs: FXB, EWU, GBB, IHY, HYXU, EWUS, PGHY, FKU, DXPS, DBUK
    | Comment!
  • Mar. 19, 2014, 3:39 PM
    | Comment!
Visit Seeking Alpha's
GBB vs. ETF Alternatives
GBB Description
The GBP/USD exchange rate is a foreign exchange spot rate that measures the relative values of two currencies, the British pound and the U.S. dollar. When the British pound appreciates relative to the U.S. dollar, the GBP/USD exchange rate (and the value of the Securities) increases; when the British pound depreciates relative to the U.S. dollar, the GBP/USD exchange rate (and the value of the Securities) decreases. The GBP/USD exchange rate is expressed as a rate that reflects the number of U.S. dollars that can be exchanged for one British pound in the interbank market for settlement in two days. Effective December 18, 2008 the GBP/USD exchange rate will be the rate reported each day on Bloomberg screen GBPUSD WMCO Curncy <GO> at approximately 4:00 p.m., London time, or any successor page.
See more details on sponsor's website
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub