london-skyline-night

Retail sales shock pound

20th July 2018 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 took another recent hit as retails sales dropped and came in at -0.5%. Sterling dropped further in response against both the dollar and euro. The World Cup and warm weather were seen as the reason for this, as people spent less on the high street. Today public-sector borrowing is out from the UK, however is unlikely to have any significant market impact. 🇪🇺 EUR – There […]

rates table

Pound tumbles on disappointing inflation reading

19th July 2018 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 – UK inflation data missed expectations of a rise to 2.6% yesterday and instead remained at a healthy 2.4%. Though core inflation also missed the mark, suggesting that the slowdown was not due to temporary fluctuations in food and fuel. The disappointing readings brought doubt into whether the Bank of England will increase interest rates at its next meeting in August and as a result weighed heavily […]

stockmarket-mobile

UK inflation tipped to rise

18th July 2018 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 languished yesterday after wage growth dropped to 2.5%. Whilst this is still marginally higher than last month’s 2.4% inflation reading; this could change today should inflation rise to its expected 2.6% reading. Mark Carney also added to Brexit related woes on the pound by stating that a no Brexit deal could have dire consequences on the UK economy and could well make the Bank of […]

houses of parliaments

Another day another resignation

17th July 2018 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 – Theresa May suffered another resignation over her Brexit plans, taking the toll up to eight now. Robert Courts resigned from his ministerial aide role stating that he could not look himself in the mirror if he had been forced to defend the PM’s plans. Today will see Mark Carney speaking this morning and is likely to toe the same recent line with the UK gearing up […]

bank of england

Rate hike on the cards

16th July 2018 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 – Expectations of a rate increase in August have increased in recent days, following largely positive data and encouraging comments from Governor Mark Carney. Sterling does, however, remain shackled by Brexit uncertainty, but did manage to make some gains versus the US dollar and has maintained those this morning. Tomorrow sees Governor Carney speak ahead of Wednesday’s inflation figures. Consequently, there could be some volatility this week. […]

houses of parliaments

Sterling Continues To Struggle Amidst Brexit Concerns

13th July 2018 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 found little direction on Thursday, due to a lack of data amid ongoing Brexit uncertainty. US president, Donald Trump recently stated that UK voters may not fully want a break away from Europe in relation to ongoing Brexit talks. Sterling continues struggle to find any real footing of late, with David Davis and Boris Johnson both choosing to leave their posts, throwing Theresa May’s cabinet […]

ottawa canada

Canadian rates the highlight of yesterday

12th July 2018 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 – There was no data out from the UK yesterday. However, sterling managed to hold on to its position against the euro and dollar despite the relative political uncertainty. The Bank of England previously stated that Brexit could threaten values in the derivative values, however the EU commission yesterday made a statement trying to squash these concerns. Apart from a Bank of England Credit Conditions Survey there […]

the white house us

Trade war continues

11th July 2018 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 UK released its first monthly estimate of GDP yesterday morning, with a positive reading of a 0.3% rise, making it the fourth monthly increase. However, there was also a barrage of softer figures out at the same time, with industrial production, manufacturing production and goods trade balance all missing the mark. The pound saw some movement as a result, but managing to stabilise, with the […]

houses of parliaments

Tory Party in disarray over resignations

10th July 2018 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 – Markets initially shrugged off the resignation of David Davis as Brexit Secretary with the pound up nearly 0.5% against the US dollar at the top end of the day, as investors speculated a “soft” Brexit now seemed more likely. Former Housing Minister Dominic Raab has now replaced David Davis. However, during the afternoon session, Sterling’s gains proved to be short lived as the currency tumbled following […]

gb and eu flags

Davis resigns and the pound will not be moved

6th July 2018 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 – In the immediate aftermath of David Davis’ resignation, the pound seems to be coping. He resigned following the cabinet’s meeting at Chequers last week and his discomfort in backing Theresa May’s “soft Brexit” plan. At 09:00 today the new Brexit minister will be announced, other than any further ministerial fallout there is no market releases today from the UK. 🇪🇺 EUR – Investor confidence is to be […]

bank of england

Carney rallies the pound

6th July 2018 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 rose to a seven-day high on Thursday after Bank of England Governor Mark Carney said he was confident an economic slowdown was temporary. However, the rally was short-lived ahead of a key government meeting on Brexit. The Prime Minister will today propose a new plan to ease trade and offer Britain more freedom to set import tariffs. With less than nine months until Britain […]

blackfriars bridge evening

UK services accelerate

5th July 2018 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 jumped across the board after service PMI’s hit an eight month high suggesting the economic growth rose by 0.4% in the last three months – which is twice as fast as the first quarter. The jump in services from 54 in May to 55.1 in June also seems to have increased the chances of a rate hike in the summer. As a result, Sterling is […]