rates table

BoE Chief Economist votes for a rate hike

22nd June 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 what was expected to be a lacklustre Super Thursday; the Bank of England caused a stir in the currency markets with an additional member of the Bank electing to vote for rate hike. BoE chief economist, Andy Haldane, had previously been dovish on talks of a rate hike, so his decision did surprise markets and pushed sterling higher across the board. The Bank also changed […]

bank of england

Will rates rise?

21st June 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 – Data was sparse yesterday as the pound hit a 7-month low against the US dollar in early trading ahead of the House of Commons vote on the Brexit bill. The Pound rose slightly after it was announced that the Government had seen off a rebellion by Conservative MPs to win the vote. There is no reason that the BoE will raise interest rates or tamper with […]

bank of england

Sterling struggles against dollar

20th June 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 lost value throughout yesterday and reached seven-month lows versus the US dollar. This is largely due to concerns over an escalating trade dispute between the world’s two biggest economies and an anticipation of the Bank of England’s policy stance at tomorrow’s rate decision meeting. Market expectations are for a less than 40 per cent likelihood of the BoE raising interest rates by August and tomorrow’s […]

the white house us

Trump’s trade war continues

19th June 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 of note from the UK yesterday and there is no data of significance out today. Some political uncertainty has arisen as the House of Lords blocked the government’s EU (Withdrawal) Bill, and their amendment stated that Parliament should have to approve the direction the government takes if there was no final agreement with the EU. 🇪🇺 EUR – Yesterday ECB President Draghi made […]

europe union building

Uncertainty weighs down the euro

18th June 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 – From the UK on Friday the pound found little support due to a lack of data despite last week’s positive retail sales numbers. It still remains to been seen whether any positive talks in relation to Brexit this week will give Sterling any clear direction against its major trading partners. We have no economic data out from UK today. 🇪🇺 EUR – From the Eurozone last week […]

arc de triomphe

Dovish ECB Sees Euro Pressured

15th June 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 – Yesterday morning, UK retail sales stunned the market as the figure hit 1.3% on a monthly basis in May, up from the expected 0.5%, with the good weather conditions and the royal wedding cited as major reasons for the boosted consumer spending. However, political uncertainty remains rife in the UK, as the Tory party remains extremely divided on how to proceed with the Brexit negotiations. Developments […]

us federal reserve

Fed raises rates, ECB in focus today

14th June 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’s latest inflation rate defied expectations by remaining at 2.4%. Markets were expecting a rise to 2.6% on the back of oil prices being 40% higher than a year ago. The data followed the news on Tuesday where we saw an unexpected slowdown in wage growth suggesting that the Bank of England may well be deterred from raising interest rates anytime soon in the UK. […]

bank of england

Pound pushes higher

13th June 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 – Average earnings came in as expected but was down on the previous month – the unemployment rate however stayed at 4.2%. The pound strengthened a little throughout the morning. This largely set the tone for the remainder of the day. Later on, we saw the House of Commons vote on an amendment to the EU withdrawal bill which was in Theresa May’s favour. This strengthened the […]

Dollar buoyed by Trump-Kim summit

12th June 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 suffered a sharp fall following manufacturing output data showing a 1.4 percent decline month-on-month. This was in stark contrast to economist forecasts of 0.3 percent growth. This has caused investors to have less confidence in the Bank of England raising interest rates in August. Sterling has clawed back little so far today. This morning sees the release of average earnings data, which is a […]

the white house us

Trump lashes out

11th June 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 – Following a quiet end to last week, the UK is the only major with any data being released today, which is manufacturing production figures. This is expected in increase, with the market roughly expecting a rise by 0.3%. This week average earnings and CPI are also being released from the UK on Tuesday and Wednesday respectively. If both these figures are good, it could signal potential […]

blackfriars bridge evening

Pound Blips After Referendum Concerns

8th June 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 fresh two week highs against the greenback yesterday due to a weaker U.S dollar, though it sold off sharply when news broke that a possible second referendum could be back on the cards. It seems that any talk of a second referendum could potentially see a weakening off of Sterling. Adding to more woes yesterday for Theresa May, it has emerged that […]

rates table

Central Bankers in Focus Yesterday Ahead of Tomorrow’s G7 Meeting

7th June 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 found some support yesterday following a speech from Bank of England policy maker Ian McCafferty, who stated that the central bank should raise rates now to keep inflation on target, otherwise leaving it too late would make high inflation harder to deal with, thus requiring sharper rate hikes. Ian McCafferty however will be leaving the central bank at the end of August. Today, we […]