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EUR remains buoyant, UK and US GDP in focus this week

22nd May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – High inflation was the talk of the week for the pound, as inflation hit 2.7% on Tuesday, well above the Bank of England’s 2% target rate. A high rate generally pushes the central bank to hike interest rates, however markets seem to think that the BoE will not follow this route yet and as a result, the pound fell lower. Unemployment fell to its lowest level […]

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Positive Retail Sales boost demand for the pound

19th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound surged yesterday against the US dollar after a much better than expected set of retail sales numbers. Many analysts had expected the figures to come in at 1% on the month and 1.9% on the year, though both came in much higher at 2.3% and 4% respectively. The Office for National Statistics said sales rose thanks to Easter falling later this year. The year […]

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Washington woes weigh heavily on the US currency and stocks

18th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Figures yesterday showed unemployment has reached its lowest rate since 1975, falling from 4.7 to 4.6%. Despite more people being in employment, the claimant count change increased significantly more than expected, consequently causing GBP to weaken against the euro. Wage growth has also stalled in the UK, which signals there could be pressure on retail sales and consumer confidence looming. Against the dollar however we saw […]

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Inflation higher, will wage growth follow?

17th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Inflation for the UK was above expectation showing an increase in the price of goods and services. Inflation in most cases seen as positive news, however many cite that this as ‘Imported Inflation’ which has come about through the fall in the value of the pound in recent months. The Bank of England may also be worried as their 3% upper bound of inflation is nearing, […]

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Euro on the up post French election

16th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Inflation is in focus today, with the headline figure forecast to pick up to 2.7% from last month’s figure of 2.3%. This is the first of a hat-trick of important data releases which will give a window into the current picture and also give an indication of future economic prospects. After today’s CPI figure we have tomorrow’s average earnings figure and on Thursday we have retail […]

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CPI takes centre stage this week

15th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Last week’s highlight for the UK was Thursday’s interest rate decision. As expected, 7 of the 8 MPC members opted to keep interest rates at record lows of 0.25%. This had generally been expected by the market, however what did surprise the market was the Bank of England opting to lower the UK’s growth forecast, weakening Sterling. Despite this, sterling remains at some of the highest […]

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Focus turns to US Inflation this afternoon

12th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Yesterday’s Super Thursday announcements were the least bit surprising. The interest rate stayed the same as did the asset purchase facility programme. The voting was pretty much the same too, except there was one less member than normal, so instead of 8-1 the votes were 7-1. The bigger news was that the BoE raised its inflation forecast for this year to 2.7% but reduced its economic […]

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Will Super Thursday stimulate Sterling?

11th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling began yesterday morning on the front foot, pushing resistance levels against the euro and US dollar. With no data released from the UK, the pound’s gains seem to be riding on the wave of sentiment ahead of the election. Today features the Bank of England’s ‘Super Thursday’, with the announcement of the interest rate decision, minutes from the monetary policy committee meeting and the quarterly […]

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Markets braced for Draghi

10th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling spent the morning trading very flat across the board. With a lack of data and with all eyes on forthcoming EU negotiations, there was nothing that caused the pound to move significantly. However, in the afternoon Sterling made some gains against the euro, though remained flat versus the dollar. There is a distinct lack of data today, so Sterling will only move based on external […]

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Markets calm after French Election

9th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – With an absence of UK data supporting the pound, the short lived rally on the French election was not enough to drive Sterling past 1.30 against the dollar, as was expected across the board. With Sterling trading in tight ranges throughout the day attention shifted to this week’s Bank of England meeting and election campaign. With Sterling having jumped more than 3 percent against the dollar […]

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Super Thursday in focus for the pound

8th May 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling enjoyed a good week following a strong set of PMI figures for the month of April. UK manufacturing hit a three year high and UK construction and services hit a four-month high soothing fears around the UK economic outlook following a slow first quarter. The key day for the UK this week is Super Thursday, where we have the Bank of England’s monetary policy and […]