london-skyline-night

UK Services Helps Sterling

5th June 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 construction PMI was favourable yesterday after beating estimates This had been expected to dip and in combination with the good manufacturing results last week, it could mean that Q2 GDP figures will be improved. The aforementioned drop off for the pound came following the BoE’s Silvanna Tenreyo who is an external member of their monetary policy, suggested the UK could afford to not raise rates […]

houses of parliaments

Sterling Enjoys Positive End To The Week

4th June 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 strengthened on Friday as data showed UK Manufacturing growth gaining momentum. After languishing near six-month lows for most of the week, significant gains were seen versus the US dollar, with the largest daily movement seen for eight weeks. Sterling strengthened 0.7% versus the euro. Investors are only pricing in a one-in-three chance of an interest rate rise at the next MPC meeting in August, […]

US Jobs Data In Focus

1st June 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 – Net lending to individuals came in slightly above expectations at 5.7 billion, however this had no impact on Sterling. There was very little movement with Sterling yesterday, however it marginally lost ground against the euro as some political certainty appeared to return to Italy. Manufacturing PMI is released from the UK this morning, and is expected to come in at 53.5, slightly below last month’s reading. […]

europe union building

Italy uncertainty looms large

31st May 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 retreats back against the single currency following the gains made on Tuesday, as political uncertainty pressured the euro as Italy struggles to form a government. We have limited data from the UK today, though a continued weakening single currency could see the pound possibly trade higher. 🇪🇺 EUR – The greenback fell on Wednesday against the euro to a 10-month low after a report stated […]

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Italian political drama continues

30th May 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 – With a lack of data in the UK yesterday, the pound was at the mercy of movements in other currencies. Losing ground to the dollar which benefitted from safe haven inflows and gaining against the ailing euro. This morning, we see some reversal in fortunes as the UK sees another day with no economic releases. 🇪🇺 EUR – Interim PM Carlo Cottarelli is due to visit […]

spanish parliament

Spain and Italy push euro lower

29th May 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 – With very little data to move the pound, the currency’s moves were subject to moves on other currencies. The only significant news out this week will be Friday’s manufacturing figures but otherwise Brexit headlines should keep the lid on any potential Sterling strength. 🇪🇺 EUR – Political turmoil from both Spain and Italy have pushed the euro lower with EUR/USD now at a 6-month low and […]

US dollar slips

25th May 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 pushed higher yesterday after the release of positive Retail Sales data, that appeared to show a weather-led boost. Traders are wary, however, of pushing the pound too far, given ongoing Brexit concerns. Yesterday marked a reversal from Wednesday, when the currency fell to the lowest levels this year. Elsewhere, Mark Carney stated that the Bank of England could inject further stimulus into the economy, should […]

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Inflation drops to a year low

24th May 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 the recent rise in oil prices, inflation in the UK undershot expectations falling to 2.4% in April. Core inflation, which strips out volatile items such as food and energy prices, is now just above the BoE target (2%) sitting at 2.1%. Sterling dropped on the back of the data with the prospect of a rate hike pushed back now to November. GBP/USD rates are now […]

statue of liberty

The dollar rally continues

23rd May 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 trimmed earlier gains after hitting a one-week high against a broadly firm euro on Tuesday as a top central bank official’s upbeat note on the outlook for future interest rate increases was met by some market scepticism. Currency investors were burnt by the Bank of England’s decision to keep interest rates on hold last month after signalling a rate hike was on the cards until […]

bank of england

UK inflation report and Brexit negotiations in focus today

22nd May 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 – We had a very quiet day yesterday, though the pound steadily lost ground against the euro throughout the day ahead of today’s speech by BoE Governor Mark Carney at the inflation report hearings. Investors will look towards any shift in inflation expectations which in turn will have direct implications on UK monetary policy. In addition, the next round of Brexit negotiations will resume in Brussels today. […]

Trade war relief increases appetite for the dollar

21st May 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 – Confusion over whether Britain will stay in the customs union weighed on the pound on Friday as the currency headed towards fresh five-month lows against the US dollar. Continuing soft UK economic data, a dovish Bank of England and concerns over the UK labour markets has put pressure on the pound over the last month. Sterling bulls will be hoping for readings for inflation and retail […]

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Italian bonds slump

18th May 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 – No data was released yesterday but Tory MP Ken Clarke suggested that Theresa May would have a hard time to get the cabinet to agree to anything and thus “they’re looking at the moment will require us to stay in the existing arrangements probably well beyond December 2020” thus extended the transitionary period. This comes after Cabinet Office minister David Lidlington said that Britain will not […]