3rd November 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 Bank of England hiked the main UK interest rate for the first time in 10 years yesterday, from 0.25% to 0.5%, in a move that was widely expected by the markets. The nine member MPC justified the rate increase by pointing to record-low unemployment, rising inflation and stronger global economic growth. However, the pound fell dramatically against its peers in what would be its […]

2nd November 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 another strong session yesterday, making firm strides versus the euro. Manufacturing PMI data in the morning proved better than anticipated and this helped bolster the pound for the rest of the day. The Government also admitted that a Brexit deal is likely to favour the EU and this went some way to alleviating market jitters. The big news today will be the Bank […]

1st November 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 a good day for the pound after Michel Barnier, the EU Brexit chief, said he is ready to speed up Brexit talks. The pound spiked up against major currency pairs and has held those levels coming in this morning. This morning house prices were released slightly higher than expected, though likely to be overlooked with the interest rate decision due tomorrow from the […]

31st October 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 – In the absence of any major news the pound gained across the board yesterday ahead of Thursday’s widely anticipated interest rate hike by the Bank of England. We could well see a similar story today as once again there is no data due out today. 🇪🇺 EUR – Whilst the political turmoil continues in Spain, the nation’s GDP expanded by 0.8% in the third quarter […]

30th October 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 – A slow start last week made the pound look vulnerable especially with Michel Barnier suggesting a trade deal between the EU and Great Britain could take up to three years to agree. Wednesday saw the release of preliminary GDP which was positive, handing the pound its best day in a fortnight. Very typically there is no economic data this week until the interest rate decision […]

26th October 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 had its best day in a fortnight yesterday following the publishing of the Q3 GDP figures at 09:30. The data beat expectations as well as the figure from Q2 and led analysts to believe that the Bank of England will raise interest rates next Thursday. Lagging economic growth had been seen as the final hurdle for a rate rise to go ahead. The UK […]

25th October 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 another lacklustre day for the pound, with a lack of data and continued uncertainty weighing heavily. The currency lost ground in the afternoon versus both the euro and US dollar, after the EU’s Michel Barnier intimated that a trade deal could take up to three years to negotiate. This further compounds the stalemate in talks that has been apparent for some time and […]

24th October 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 flat across the board, with no economic data released from the UK. The pound did seem to pick up a little in the evening, possibly on the back of the Luxembourg finance minister warning that a hard Brexit could let the City “drift away”, which encourages the possibility of productive Brexit talks. Today is again devoid of any meaningful economic data, with markets […]

23rd October 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 finished the week broadly lower on the back of mixed data and ongoing Brexit negotiations. UK inflation hit a five year high on Tuesday inciting speculation that a rate hike could occur in November, as well as average earnings coming in higher than expected. On the downside for the pound however, retail sales suffered its slowest growth in four years and Brexit negotiations still […]

20th October 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 flopped this week on what was mooted as a make or break week for the performance of the pound for the rest of 2017. Brexit negotiations still moving at an excruciatingly slow pace, weak comments from BoE Governor Mark Carney and rotten retail sales have all contributed to the pound sliding for most of the week. With no further red flag data out today […]

19th October 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 – This week the pound has struggled to sustain previous ground gained against the dollar and the euro. There have been no acute drops, but rather a steady decrease in value. This is due to a lack of data and uncertainty with regards to when the BoE will increase interest rates. However, yesterday’s average earnings data came in higher than expected, which saw a small boost […]

18th October 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 we had UK inflation data come in as anticipated at 3% and despite BoE Governor Carney’s hawkish speech shortly after, Sterling failed to make any significant climb. Carney continued to say that the BoE expects inflation to rise a bit more, potentially over 3%, before peaking and dropping off in the next couple of months. He added that the accelerated increase in inflation, which […]