Fed plots new course for interest rate hikes

21st September 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 – Retail sales in the UK came in yesterday 0.8% higher than forecast, which gave the pound a boost in morning trading. We are seeing strong store price increases compared to a year ago and this is leading to inflationary pressures. The figure is another driver towards a potential rate increase in the next few months. BoE policy committee member Ian McCafferty spoke yesterday regarding a […]

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Sterling running out of steam?

20th September 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 has struggled to continue its good run of late after last week’s positive inflation figure and Bank of England announcement. With no real substantial data of note out so far, the pound has lost slight ground against both the euro and US dollar, on what looks like profit taking by the markets. Today we have retail sales out at 9:30am, which are expected […]

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Sterling dips following Carney speech

19th September 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 extended its losses on Monday, dropping 0.8 per cent to a session low of $1.348 after Bank of England governor Mark Carney dialled back on his hawkish comments on interest rates. Speaking in Washington, Mr Carney said any future interest rate rises would be limited and gradual. This is following Thursday’s 15 month high of over 1.36 after Carney was quoted saying the […]

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Pound remains buoyant with a quiet week ahead

18th September 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 – Last week was nothing short of incredible for the pound. On Tuesday the pound had its first significant piece of data as it was announced that inflation was higher than expected, which saw the pound regain its loses from the previous week. The next substantial release was on Thursday with the Bank of England announcements, whilst the BoE kept everything unchanged the wording and language […]

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BoE bolsters the pound

15th September 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 – After a lacklustre few weeks with little to shout about, the pound rebounded significantly yesterday. This was due entirely to the Bank of England’s policy statement following the monthly interest rate decision. Whilst rates were left unchanged as expected, the committee offered the tantalising view that with the pace of rising inflation and the small, but significant increase in wage growth, interest rates may have […]

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The Bank of England will set the tone today

14th September 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 erased Tuesday’s positive gains following a mixed set of unemployment numbers yesterday as unemployment in the UK fell by 75,000 in the three months to July, official figures show, bringing the jobless rate down from 4.4% to 4.3% which is the lowest level since 1975. Wages in the same period were seen higher than a year earlier, though this missed expectations. With inflation edging […]

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Pound bounces ahead of jobs report

13th September 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 – Data yesterday showed inflation climbed above what was expected, which gave an overdue boost for the pound. Moving forward into the week we have the Bank of England interest rate decision. Although the likelihood of an interest rate increase is slim, comments from Mark Carney following the minutes are expected to address this concern. Figures released this morning for the UK are expected to show […]

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Attention turns towards UK CPI

12th September 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 there was no economic data of note released from the UK. However in the evening the EU repeal bill won its first commons vote, where the government was bidding to extract the UK from EU law prior to Brexit. The fact there were no obstacles has allowed Sterling to maintain its relatively strong position against the euro and dollar. Sterling/euro is currently at its […]

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Sterling stengthens as dollar under pressure

11th September 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 UK started last week with construction and retail figures published below expectations and showed a growth slowdown compared to July. Market impact was minimal but the construction figures will be concerning as it nears the point of industry contraction, having been resilient since the EU Referendum. Sterling gained in the absence of mid-week data, particularly against the US dollar, which moved to monthly highs […]

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Euro marches on following Policy Statement

8th September 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 significant moves, with Sterling weakening against the euro, but making strong gains over the US dollar. GBP/USD is now above key levels and apart from a momentary blip late in August, the pairing is back in line with highs last seen in September 2016. 🇪🇺 EUR – The euro strengthened yesterday as the ECB’s Mario Draghi delivered his policy statement. He did try […]

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Will Mario Draghi talk down the euro?

7th September 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 – With no economic data out yesterday, the pound did well to continue its gains from Tuesday causing the currency to climb to a one month high against the US dollar and a new two week high against the euro. The only news that’s come out today has been house price data out of Halifax which has come above expectation this morning, though we are unlikely […]

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Pound finds some much needed support

6th September 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 saw a much needed technical surge yesterday after hitting new lows against the USD and EUR recently. UK data failed to lend a hand to the uptrend as services data fell below consensus yesterday morning. Brexit news was also in the limelight as David Davis, the Brexit Secretary, told MPs the UK was rigorously vetting the EU’s demands and the two sides had […]