statue of liberty

Greenback struggles following job figures

9th April 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 ended last week firmer against both the single currency and US dollar despite a mixed set of data from the UK. Last Thursday’s PMI services numbers, which is the most important of all three PMIs, saw a sharp drop from an expected 53.9 to 51.4, which in turn would normally see a sharp selloff in Sterling though the pound remained firmer heading into the monthly […]

wall street sign and flags

US Jobs in focus today

6th April 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 – Services data showed a marked fall as the reading missed expectations yesterday. With little else out from the UK, the pound fell losing significant ground against the dollar but also trading slightly lower against the euro by the end of the day. Today, there are no data releases from the UK. Bank of England Governor Mark Carney will however be speaking in Amsterdam at the International […]

rates table

A static day for markets yesterday

5th April 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 has maintained its buoyancy and even managed to claw a little back versus the euro through yesterday. Disappointing Construction PMI data did little to dampen the pound and it will be interesting to see if this morning’s Services PMI reading has any effect. As has been apparent for some time, investors are only really reacting to Brexit output and Central Bank monetary policy deviation. 🇪🇺 […]

Dollar falls, euro capitalises

4th April 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 – Yesterday the pound was given a slight boost early in the trading session following positive manufacturing figures. For the rest of the day it remained very rangebound. Today only construction PMI is to be released for the UK, though little impact is expected. 🇪🇺 EUR – Yesterday manufacturing for Europe came in as expected, which meant it had little impact on the market. Today looks set […]

blackfriars bridge evening

Sterling has best quarter since 2015

3rd April 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 GDP figures last Thursday revealed that the UK economy in the 4th quarter of 2017 grew by 0.4% and annual growth was revised higher to 1.8%. Data agency, Markit, will be revealing this week that the manufacturing, construction and service sectors all slowed in growth in March. 🇪🇺 EUR – German inflation figures on Thursday disappointed causing the euro to weaken by the end of […]

US growth figures help lift the dollar

29th March 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 – The pound had a short-lived surge in the early hours of yesterday morning as according to The Times, the UK government may soon release its plan on the solution to the Irish border issue, which is perhaps one of the biggest issues for the Brexit negotiations. However, worse than expected readings which track trends in British retail and wholesale sectors weighed on the pound keeping it […]

building-front

Has the pound run out of puff?

28th March 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 – Following Sterling carrying over last week’s gains this week, the currency lost some ground in early trading yesterday and has yet to recover its position fully. There are signs that the currency is adopting a well-worn pattern of hitting a key resistance level and bouncing straight back down. It appears as though it will take something out of the ordinary to progress from here. This morning […]

statue of liberty

Sterling gains from US dollar weakness

27th March 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 – The pound remained strong yesterday without any major data releases, though capitalising further due to a bad day for the dollar. Only the Financial Policy Committee statement to be released at 08:30am. No volatility is expected after the release. 🇪🇺 EUR – The euro remained pretty flat, if anything losing a little amount of ground against the pound whilst pushing much higher against the dollar. Industrial […]

bank of england

Vlieghe warns rates to rise faster

26th March 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 – Bank of England rates setter, Gertjan Vlieghe, said on Friday that interest rates will probably need to rise up to twice a year for the next few years. Whilst warning about the uncertainty of the economy, Vlieghe cited that recent data from the job market and confidence in wage growth had convinced him of the need for higher rates. Investors seem certain that a rate hike […]

bank of england

BoE set stage for May rate rise

23rd March 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 – Whilst the BoE kept rates at 0.5% in yesterday’s meeting, the prospect of a rate hike was all but guaranteed in May’s meeting after BoE members Ian McCafferty and Michael Saunders voted to raise interest rates. Sterling markets jumped immediately following the announcement but the gains were short lived as investors decided that a rate hike in May was already priced in by the market. GBP/EUR […]

rates table

Sterling edges higher ahead of BoE meeting

22nd March 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 hit the day’s high after data on Wednesday showed that British workers’ overall pay rose at the fastest pace in nearly 2 1/2 years over the three months to January, boosting chances that the Bank of England will raise interest rates in May. The Office for National Statistics also said the number of people in work grew by 168,000 in the three months to January. […]

blackfriars bridge evening

Lower inflation largely dismissed as pound finds footing

21st March 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 – Yesterday UK inflation figures showed a fall for February as the figures missed expectations. The softer figures don’t give any added pressure for the Bank of England to raise interest rates in May, but as the figure is still above the 2% target there was only an initial negative reaction to the news and the pound recovered throughout the day. This was also likely due to […]