wall street

US growth hits over 4%

30th July 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 the absence of any economic data releases on Friday, the markets focused again on the ongoing saga that is Brexit. Prime Minister Theresa May’s efforts to bypass Brussels and deal directly with EU nations seemed to have been hampered as the risk of a no deal Brexit has intensified after the PM was warned that the European Parliament would veto her Chequers deal unless there […]

rates table

Barnier rains on May’s parade

27th July 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 – Despite a lack of data from the UK, Sterling was under political pressure as Barnier stressed his concerns over the government’s plan to keep the UK temporarily inside the UK’s regulatory area for goods – to avoid a hard border in Northern Ireland in the case of no deal. Today there is no data of note from the UK. 🇪🇺 EUR – Mario Draghi kept interest rates […]

europe union building

US and EU talks reduce trade war tensions

26th July 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 very little news from the UK yesterday bar the BBA mortgage approvals which surprised to the upside, hitting a 9-month high in June. The pound did move higher against the dollar but remained fairly flat against the euro in an otherwise quiet day. Today again features an empty economic calendar for the pound and so analysts will be on the lookout for any Brexit […]

statue of liberty

Five-day highs against the dollar

25th July 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 continues to be weighed upon by Brexit and is struggling to gain any sort of momentum while uncertainty prevails. Yesterday, however, did see modest gains versus the euro and a stabilisation of upward momentum against the US dollar. This is despite weaker-than-expected retail sales and recent soft inflation data. Markets are still giving an 80% chance of an interest rate increase from the Bank of […]

gb and eu flags

May starts Brexit tour

24th July 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 – Theresa May started her nationwide “Brexit” tour at an engineering firm in Newcastle, which had her talking about how she likes walks, TV box sets and cookbooks. Interestingly, Newcastle voted remain in the referendum but only by 1%. The market didn’t react to the start of May’s tour. Jeremy Hunt had a gaff yesterday saying unless the EU changes their approach then there is a real […]

us federal reserve

Trump effect in full force

23rd July 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 benefited from Trump’s comments by climbing against the dollar on the Friday but otherwise data was thin on the ground for the end of the week. Overall the pound managed to claw back some of the losses suffered at the beginning of the week as markets look to have repositioned themselves before the weekend and any further Brexit developments. BoE member Ben Broadbent will be […]

london-skyline-night

Retail sales shock pound

20th July 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 took another recent hit as retails sales dropped and came in at -0.5%. Sterling dropped further in response against both the dollar and euro. The World Cup and warm weather were seen as the reason for this, as people spent less on the high street. Today public-sector borrowing is out from the UK, however is unlikely to have any significant market impact. 🇪🇺 EUR – There […]

rates table

Pound tumbles on disappointing inflation reading

19th July 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 – UK inflation data missed expectations of a rise to 2.6% yesterday and instead remained at a healthy 2.4%. Though core inflation also missed the mark, suggesting that the slowdown was not due to temporary fluctuations in food and fuel. The disappointing readings brought doubt into whether the Bank of England will increase interest rates at its next meeting in August and as a result weighed heavily […]

stockmarket-mobile

UK inflation tipped to rise

18th July 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 languished yesterday after wage growth dropped to 2.5%. Whilst this is still marginally higher than last month’s 2.4% inflation reading; this could change today should inflation rise to its expected 2.6% reading. Mark Carney also added to Brexit related woes on the pound by stating that a no Brexit deal could have dire consequences on the UK economy and could well make the Bank of […]

houses of parliaments

Another day another resignation

17th July 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 – Theresa May suffered another resignation over her Brexit plans, taking the toll up to eight now. Robert Courts resigned from his ministerial aide role stating that he could not look himself in the mirror if he had been forced to defend the PM’s plans. Today will see Mark Carney speaking this morning and is likely to toe the same recent line with the UK gearing up […]

bank of england

Rate hike on the cards

16th July 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 – Expectations of a rate increase in August have increased in recent days, following largely positive data and encouraging comments from Governor Mark Carney. Sterling does, however, remain shackled by Brexit uncertainty, but did manage to make some gains versus the US dollar and has maintained those this morning. Tomorrow sees Governor Carney speak ahead of Wednesday’s inflation figures. Consequently, there could be some volatility this week. […]

houses of parliaments

Sterling Continues To Struggle Amidst Brexit Concerns

13th July 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 found little direction on Thursday, due to a lack of data amid ongoing Brexit uncertainty. US president, Donald Trump recently stated that UK voters may not fully want a break away from Europe in relation to ongoing Brexit talks. Sterling continues struggle to find any real footing of late, with David Davis and Boris Johnson both choosing to leave their posts, throwing Theresa May’s cabinet […]