blackfriars bridge evening

Sterling hits highest level against the euro for 2017

22nd February 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 – No significant data from the UK yesterday and there was not much movement either during Mark Carney’s speech in parliament yesterday morning. The only notable comment from Carney was that “interest rates will rise at a faster pace if the UK negotiates a smooth departure from the EU”. Another notable comment came from MPC member Gertjan Vileghe, who stated “the Bank is highly unlikely […]

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Mark Carney in focus today

21st February 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 – No significant data at all from the UK yesterday, however the pound did climb against both the euro and US dollar, which could well be profit taking by investors following the pounds sell off last week. 🇪🇺 EUR – The latest from the Greek bailout saga saw an agreement to allow debt inspectors to return to Athens, to discuss a new round of tax, […]

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Markets look to Fed minutes for rate hike hints

20th February 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 – There was only two sets of key data out of the UK last week, both of which disappointed markets. Firstly, inflation fell short of the uptick expected, only rising to 1.8% instead of 1.9%. The second set of data was retail sales, which fell considerably in January to 1.5% from 4.1% in December. As a result, the pound finished broadly lower. 🇪🇺 EUR – […]

blackfriars bridge evening

Sterling uncertainty continues

17th February 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 – From the UK yesterday, the pound continued it’s wayward moves against its major trading partners on thin data. This was despite a small jump in mid morning trade. Sterling is finding it incredibly difficult of late to break through crucial levels, against both the single currency and U.S dollar, before next month’s potential triggering of Article 50. From the UK today, we have data […]

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UK Earnings disappoint, pound feels the pressure

16th February 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 – Worse than expected Average Earnings figures sparked trouble for Sterling yesterday, as concerns grow that wages are not keeping up with inflation, even though 37,000 more jobs were created than expected. 🇪🇺 EUR – Positive trade balance figures for the Eurozone helped to bolster the euro during morning trading, although it was a quiet day otherwise on the data front. 🇺🇸 USD – Positive data […]

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Pound stumbles on inflation miss

15th February 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 surge in the pound came to an abrupt end yesterday as UK inflation figures missed expectation and disappointed the market. Though the 1.8 % figure showed an acceleration from the month prior at 1.6%, it fell short of the 1.9% expected. As a result this puts back the possibility of a UK interest rate hike and saw the pound tumble. The focus will […]

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Inflation in focus as 2% target nears

14th February 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 – Much watched inflation reading due at 9:30 this morning, expected to come in just shy of the 2% target. If it comes in as expected, or better, this will increase the chances of a rate rise over the medium term, as the BOE will move to quell inflationary pressures and put money back into the pocket of consumers. This could strengthen Sterling. 🇪🇺 EUR […]

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Pound picks up due to interest rate hike murmurs

13th February 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 – Despite the lack of economic data last week, Sterling had a positive week, particularly against the euro. This was initiated on Tuesday when MPC Member Forbes stated that if inflation kept gaining momentum, she would be tempted to vote for an interest rate rise. Sterling’s strength was compounded on Friday by significantly better than expected manufacturing production data. This was probably partially stimulated by […]

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Dollar picks up as rest of the market remains quiet

10th February 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 – No data out for the UK yesterday and not much movement for the pound. Sterling stayed within a cent range against the dollar rate and fairly flat against the euro. 🇪🇺 EUR – German trade balance figures out in the morning were below expectation, however this figure tends to deviate from its expected value and is an extremely hard piece of data to pin […]

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Sterling remains resilient

9th February 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 was very quiet for the pound, there was no top tier data released and the market focused on Jon Cunliffe’s speech at the Birmingham Chamber of Commerce. He said that he believes that business investment will remain very weak in the back drop of Brexit, before picking up. This had very little effect on the pound, as it seems that the situation is […]

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Sterling rises on rate hike prospects

8th February 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 – Despite the absence of any UK data, the pound rallied in the afternoon, following comments made by Bank of England policymaker, Kristin Forbes. Over the last year, the majority of forecasters and economists had predicted a slowing pace in the economy, with the view based on the fact that growth and investment inevitably becomes compromised, when massive uncertainty is caused by events such as […]

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Sterling remains under pressure

7th February 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 continues to swim against the tide, with markets seeming happy to adopt a ‘wait and see’ approach. The Bank of England is clearly sitting on the fence with regards to policy, ready to respond in either direction. With no clear central strategy as guidance, markets will likely wait to see how Brexit negotiations pan out. With no sterling data out yesterday, the […]