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Cautious market ahead of Jackson Hole Symposium

21st 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 – The pound continued its negative trend last week with inflation disappointing dampening chances of an interest rate rise. Unemployment rate and retail sales both beat expectations, causing the pound to move back to similar levels to what we saw before the inflation news. However, as has been the case recently the pound struggled to maintain its position and fell even lower by the end of […]

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Breathing space in the market

18th 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 – Retail sales came in better than expected yesterday, causing the pound to strengthen in early trading. However, most of the gains were short lived and the pound had fallen to its pre release levels by around 2pm against most currencies. Although this shows signs of resilience in consumer spending habits, as real wages are falling it has been cited that the figure is holding strong […]

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Sterling steadies as markets anticipate UK retail sales today

17th 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 – Better than expected employment figures helped to drag the pound up from its 10 month lows against the euro yesterday morning. Improving Average Earnings closed the gap on inflation that remained flat on Tuesday, helping to ease the concern of a problematic household income squeeze. A surprise drop in unemployment to the best level since 1975 helped the pound to gain precious ground against the […]

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Sterling in the firing line

16th 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 – UK inflation failed to impress and added to the growing list of reasons why Mark Carney is having such a tough time convincing the market of an interest rate rise from the Bank of England. The currency fell to a ten month low against the euro and a one month low against the greenback as a result. On the agenda today with will be wage […]

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CPI data in focus

15th 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 – Yesterday was a flat day overall with less than 0.3% range against the euro and 0.5% against the US dollar. Investors will focus on UK Inflation data which is due out at 9.30am this morning. Previously, inflation was 2.6%, however this is expected to rise to 2.7%, anything less than this and the Pound which is already in the firing line could see further pressure […]

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UK Inflation, Unemployment and Retail Sales in focus this week

14th 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 – With very little data out last week, much of the moves on Sterling pairs was dictated by its opposing currencies. Sterling finished the week 0.28% lower against the US dollar and 0.7% lower against the euro. This week looks set to be more productive with inflation data, unemployment figures and retail sales data all hopefully set to give the ailing pound much needed support. 🇪🇺 […]

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All eyes on US Inflation figure today

11th 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 – Yesterday we saw UK manufacturing flat lining, but industrial production figures were more positive than expected. Trade figures were hit as the trade balance fell further into the red. The mixed data did little to move the Pound. There was also a fair amount of commentary on the financial market risks as it’s been 10 years since the crash and the general consensus is that […]

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Dollar supported by markets looking for safe havens

10th 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 – The pound traded lower against the US dollar on Wednesday but edged slightly higher versus the euro as most investors are waiting for today’s Manufacturing and Industrial Production figures. Sterling is still finding it very difficult to remain steady against the dollar and euro given last Thursday’s mixed report from the Bank of England. The UK’s Manufacturing and Industrial Production numbers are out this morning, […]

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Dollar gains on Job Opening figures

9th 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 – Still very little to support the pound at the moment, with the currency hitting its lowest level against the euro since October 2016 and its lowest level against the US dollar for three weeks. In focus today will be the inflation report hearings, where Mark Carney will be speaking at the House of Commons. 🇪🇺 EUR – Mario Draghi must tread very carefully, his battle […]

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The pound continues to plateau

8th 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 – This is a quiet week for the UK, with no significant data out until Thursday, when PMI figures will be released along with the GDP estimate. The pound has been on the back foot following the MPC’s interest rate decision last week and Mark Carney’s dismal outlook for the future of the economy. Yesterday saw the pound reach its weakest against the euro since October 2016. […]

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A bad week for Sterling

7th 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 – The pound suffered yet another tough week and lost considerable ground by the end of it. Tuesday saw Manufacturing PMI data come in better than expected, though this resulted in marginal gains for the currency. Construction PMI On Wednesday missed expectations, but did remain largely positive. The big news came on Thursday. The Bank of England voted 6-2 to keep interest rates on hold. Whilst expected, […]

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Dovish Bank of England causes Sterling drop

4th 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 – The headline news for the day came from the UK, with the BoE voting 6-2 to keep interest rates at 0.25%. Subsequently, GBP dived to a nine-month low, partially owing to the fact that no new members voted for a hike, but mainly as the BoE revised down its growth and inflation forecasts. Although most economists taking part in a Reuters poll had forecast a 6-2 […]