london-skyline-night

Sterling slides down the slope of economic uncertainty

4th 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 fell to a three week low on the wake of weak data in September’s construction figures, which showed that the sector is now contracting. This coincided with the growing sense of anxiety that many traders feel as we step into the uncertainty of Britain’s exit from the EU as well as the disappointing second quarter growth figures on Friday and the poor manufacturing figures […]

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Manufacturing strengthens dollar

3rd 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 – Manufacturing data came in below expectations yesterday at 55.9. This had minimal impact on the markets. Wednesday’s services PMI will probably have a more significant impact. Today construction PMI is being released at 9.30am, and is expected to come in line with the previous reading of 51.1. 🇪🇺 EUR – A large amount of manufacturing data was released from the Eurozone yesterday. This came roughly […]

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US Fed speeches and Jobs in focus this week

2nd 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 – The pound traded in a fairly narrow range against the euro last week and, against the dollar, found support after losses early in the week. Bank of England Governor Mark Carney and Theresa May both spoke at the BoE’s conference celebrating 20 years of independence. Carney seemed to lecture the PM on her plans for Brexit, telling her that they would lead to weaker income […]

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A quiet end to the month

29th 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 another volatile week, we have seen the pound lose its previous highs against the greenback but we have seen the opposite trends against the euro. On Wednesday, the GBP/EUR rate hit a two month high, with the potential to finish the week at these levels, depending on the tone of Mark Carney’s Speech today at 3:00pm. At 9:30am we have final GDP for quarter […]

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20 years of central bank independence

28th 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 – There was no economic data of note from the UK yesterday. However, Sterling maintained its rally against the euro and regained the high last seen in July. Jeremy Corbyn spoke at Labour’s annual party conference, however, this had minimal market impact. Today both Theresa May and Mark Carney speak at the Bank of England’s conference celebrating 20 years of independence. Any further insight into Brexit […]

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Pound subdued as we await next move

27th 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 – GBP has continued its consolidation from last week, trading relatively flat against much of its main trading partners. Threats remain to the pound however, Moody’s downgrading of the UK’s credit rating, its second since the Brexit vote, is a major vote of no confidence for the UK. This adding to a continuingly uncertain political landscape and indifferent data has led some observers to believe the […]

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Merkel’s coalition weighs on euro

26th 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 – Nothing of note for the pound yesterday or today, however it would seem the gains over the last week are holding firm. Brexit secretary David Davis is in Brussels with the EU’s chief negotiator, where he will spend the week fleshing out May’s Florence speech, hoping to move past the recent block in negotiations and move onto discussing a UK-EU trade deal. The talks are […]

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Markets await central bank speeches

25th 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 closed lower on the week after Moody’s downgraded the UK’s credit rating to Aa2. The firm also commented that they only see 1% growth this year and doesn’t expect growth to recover to historic trends over the coming years. The news caused the pound to drop off its most recent highs following a better than expected retail sales report on Thursday and proposals by […]

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 […]