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Bank of England takes centre stage

3rd August 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 traded relatively flat yesterday against both the euro and dollar, with the only data release being the UK Construction PMI, which missed the forecasts but remained in expansion. The Bank of England interest rate decision will take centre stage today, though due to inflation figures coming in lower than expected last week, the BoE is unlikely to raise interest rates this time around. Having said […]

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US ADP Employment Report in focus

2nd August 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 strengthened gradually throughout the day yesterday against both the euro and the dollar up until mid-afternoon then we came off slightly against both major trading partners to close off the UK trading session. The initial Sterling strength started in the morning off the back of UK Manufacturing PMI figures coming in better than expected. The main piece of data today comes in the form of […]

rates table

Eurozone strength continues

1st August 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 traded sideways on Monday morning amid limited economic data from the UK, the pound at present is still trying to find any real clear footing against its major trading partners with ongoing Brexit talks at present not looking like they are going anywhere. The main focus this week will be the Bank of England and how they view their stance on monetary policy and forward […]

blackfriars bridge evening

Defining week ahead for Sterling

31st July 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 relatively quiet for the pound, with the most significant piece of data being quarterly GDP figures on Wednesday which came in in line with market expectations. The pound held firm against the euro last week, and maintained its relative strength against the dollar, however this was due to dollar weakness as opposed to Sterling strength. This week could be a defining week for […]

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Quiet day across the board

27th July 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 – A relatively flat day for the pound yesterday with the only exciting piece of data being preliminary GDP, which was in line with quarterly expectations but up for the month. No releases today for the UK. 🇪🇺 EUR – German business climate showed confidence was up in the EU powerhouse, which could start to put investors’ minds at ease; with one source even citing that this […]

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Sterling remains range-bound

26th July 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 – Economic data releases to move the pound were thin on the ground on Tuesday and as a result, Sterling traded within very tight ranges against its major pairs in the morning. However, Trump’s Twitter ramblings around midday provided a surprising boost of nearly 0.5% against the US dollar and euro as he confirmed a trade deal between the US and UK is being worked on whilst […]

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Sterling keeps highs against the dollar

20th July 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, like a lot of other currencies, stayed quiet throughout the day yesterday. The only significant data out for the pound today is Retail Sales at 9:30am, with month on month predicted to come in at 0.4% and year on year at 2.5%. Should it come in as predicted then rate movement may be muted and other contributing factors will be needed to move the pound. […]

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Flat day of trading expected

19th July 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 – Inflation data released in the early hours of UK trading showed a fall to 2.6%. This caused the pound to fall in value across the board, as the probability of an interest rate rise decreased. Britain’s Brexit negotiator David Davis was grilled by the media this week for appearing to turn up to the negotiating table with no notes or paperwork. Although this seems insignificant, journalist […]

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Pound cools after hot Friday session

18th July 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 lost some of the ground it had gained after a Friday session that saw Sterling gain up to 1.6% against major trading partners. The re-tracing comes as mixed messaging continues to come from the Brexit negotiation team on compensation to be paid to the EU, as well as Davis and Hammond’s jousting becoming more intense. Inflation readings are in the spotlight today, a shot […]

blackfriars bridge evening

Pound rallies, Bank of England in focus this week

17th July 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 – BoE member speeches were perhaps the key driver of movement in the pound last week. BoE Deputy Governor Ben Broadbent suggested he wouldn’t vote for a rate hike yet, stating that it was “a bit tricky at the moment to make a decision” and as such he wouldn’t be ready to vote for a hike, this triggered a brief selloff in the pound on Tuesday. However, […]

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Pound finds some support from BoE comments

14th July 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 jumped higher against the euro yesterday following Bank of England policymaker Ian McCafferty’s comments arguing that tapering its substantial quantitative easing programme should begin soon. McCafferty spoke regarding the plans to cut bond yields, and he stated “given that other central banks are thinking about it, I think it would be remiss of us not to at least think about it.” A number of […]

rates table

Pound gains after strong unemployment figures

13th July 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 strengthened yesterday due to better than expected unemployment figures which came in at 4.5% and was forecast to come in at 4.6%. Average earnings came in as expected which also helped Sterling in the morning. Along with this the claimant count came in significantly lower. Moody’s came out and said the UK economy has started to slow, and they expect the UK economy to weaken […]