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Sterling keeps highs against the dollar

20th July 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, like a lot of other currencies, stayed quiet throughout the day yesterday. The only significant data out for the pound today is Retail Sales at 9:30am, with month on month predicted to come in at 0.4% and year on year at 2.5%. Should it come in as predicted then rate movement may be muted and other contributing factors will be needed to move the pound. […]

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Flat day of trading expected

19th July 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 data released in the early hours of UK trading showed a fall to 2.6%. This caused the pound to fall in value across the board, as the probability of an interest rate rise decreased. Britain’s Brexit negotiator David Davis was grilled by the media this week for appearing to turn up to the negotiating table with no notes or paperwork. Although this seems insignificant, journalist […]

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Pound cools after hot Friday session

18th July 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 lost some of the ground it had gained after a Friday session that saw Sterling gain up to 1.6% against major trading partners. The re-tracing comes as mixed messaging continues to come from the Brexit negotiation team on compensation to be paid to the EU, as well as Davis and Hammond’s jousting becoming more intense. Inflation readings are in the spotlight today, a shot […]

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Pound rallies, Bank of England in focus this week

17th July 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 – BoE member speeches were perhaps the key driver of movement in the pound last week. BoE Deputy Governor Ben Broadbent suggested he wouldn’t vote for a rate hike yet, stating that it was “a bit tricky at the moment to make a decision” and as such he wouldn’t be ready to vote for a hike, this triggered a brief selloff in the pound on Tuesday. However, […]

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Pound finds some support from BoE comments

14th July 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 jumped higher against the euro yesterday following Bank of England policymaker Ian McCafferty’s comments arguing that tapering its substantial quantitative easing programme should begin soon. McCafferty spoke regarding the plans to cut bond yields, and he stated “given that other central banks are thinking about it, I think it would be remiss of us not to at least think about it.” A number of […]

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Pound gains after strong unemployment figures

13th July 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 strengthened yesterday due to better than expected unemployment figures which came in at 4.5% and was forecast to come in at 4.6%. Average earnings came in as expected which also helped Sterling in the morning. Along with this the claimant count came in significantly lower. Moody’s came out and said the UK economy has started to slow, and they expect the UK economy to weaken […]

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Pound falls steeply after MPC Members remain coy over interest rate rise

12th July 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 – It was a quiet day data wise for the pound yesterday. Up until the early afternoon it traded relatively flat against the greenback and the single currency. From the start of the UK trading session to the finish the pound ended up dropping over a cent against the euro and continued to fall even further until a plateau at around 7:30pm UK time. The currency markets […]

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The Brexit Effect: Symptoms of Brexit continue to trickle through

11th July 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 – Another relatively quiet day yesterday with no red flag data. At midnight last night, the British Retail Consortium released like-for-like Retail Sales figures, which measures the change in value of same-store sales at the retail level. The reading was positive, coming in more than double the expected, thus propping the pound up this morning. PM Theresa May will be giving a speech later today at the […]

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Sterling remains on the back foot

10th July 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 started off last week in a negative position and ended it, well, in much the same place. The week’s economic data had little effect and it seems apparent that something seismic is required to bolster Sterling in the medium term. Last Monday saw Manufacturing PMI data come in below expectations and Wednesday saw UK Services figures fall to a 4-month low. It must be […]

Sterling remains steady despite weaker data

7th July 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 has dropped off slightly this week following a run of weaker UK economic results. However the markets are still anticipating an interest rate rise in the second half of this year. Ian McCafferty who is an external member of the Bank of England’s Monetary Policy Committee said depending on outcomes of economic data we are expecting to see a few modest rate rises over the […]

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G20 talks likely to dominate headlines

6th July 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 – UK services fell to a four-month low, with companies their least optimistic in nearly a year. The index edged down in June from May, and also fell just shy of Reuters forecast poll. This disappointment adding to surveys from the manufacturing and construction sectors which have also failed to meet forecasters expectations. The data may prevent Carney from raising rates this year, despite inflation being over […]

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10 years in the making?

5th July 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 saw the release of manufacturing PMI which was slightly lower than expected and this had little to no effect on rate movements. Services PMI is out today with a slight improvement expected, market movement will likely be limited. Today marks 10 years since the last interest rate rise in the UK, however it appears relatively likely that an interest rate rise could happen this year. […]