bank of england

Sterling struggles to impress

4th 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 – The pound struggled to break through key resistance levels on Tuesday despite a slight uptick in UK manufacturing after more negativity surrounding Brexit talks. It’s coming to the point where many are envisaging a no deal rather than a bad deal. From the UK today, we have data in the form of the PMI services numbers. 🇪🇺 EUR – From the Eurozone yesterday, the single currency made […]

london-skyline

UK manufacturing down in the doldrums

3rd 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 manufacturing ticked higher to 54.4 in June from 54.3 in May but there was a tone of caution from the details in the data. Growth in new orders slowed and companies increased raising their output to fulfil older orders or to build up inventory, pointing to a lack of confidence amongst manufacturers. Sterling dropped off the back of the data with investors now looking to […]

rates table

Sterling recovers some losses

2nd 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 – On Friday the UK’s final GDP figures and the current account deficit came in above expectations which allowed Sterling to recover some lost ground from overnight against both the euro and dollar. As it is the start of a new month, manufacturing PMI is being released today, followed by construction PMI Tuesday and services PMI on Wednesday. Depending on how the data reads, Sterling will act […]

europe union building

Pound pressured across the day

29th 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 – No data from the UK yesterday, though the pound fell across the board as the EU summit got underway, where Brexit talks were top of the agenda. However, the Irish border discussions, which the EU wanted to discuss in this summit have been pushed down the line with time running out for a resolution to be found. BoE member Andy Haldane also spoke yesterday about how […]

europe union building

More Brexit talks imminent

28th 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 – Sterling lost significant ground yesterday, particularly against the US dollar. Investors have concerns over imminent Brexit talks amid doubts that the Bank of England will raise interest rates at all this year. The immediate outlook for the pound looks bleak, as the central bank expressed caution regarding the impact of Brexit on the economy. There was no economic output yesterday for Sterling and today is no […]

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Distinct lack of data yesterday

27th 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 – Yesterday there was no significant data out from the UK, and this was reflected in the market movements with Sterling staying very immobile. Today Mark Carney speaks in London with regards to the financial stability report. This is an assessment of the financial system and potential risks to financial stability, and Carney may provide insight into the future of the Bank of England’s monetary policy. 🇪🇺 […]

london-skyline

Sterling lacks direction

26th 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 – From the UK yesterday, data was at a premium with Sterling finding it hard to find any real clear direction against its major trading partners. One main reason citied was the lack of clarity in relation to any positive Brexit talks taking place. From the UK today, we have data in the way of MPC member Ian McCafferty speaking at 10:30am. 🇪🇺 EUR – From within the […]

gb and eu flags

Brexit talks in focus this week

25th 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 upbeat outlook for interest rates from the Bank of England meeting on Thursday spilled over into Friday morning last week as the pound climbed higher against the dollar in early trading, though short-lived as much of these gains were reversed by the end of the day. The pound didn’t fare so well against the euro as it saw steady losses throughout the day. With no […]

rates table

BoE Chief Economist votes for a rate hike

22nd 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 – In what was expected to be a lacklustre Super Thursday; the Bank of England caused a stir in the currency markets with an additional member of the Bank electing to vote for rate hike. BoE chief economist, Andy Haldane, had previously been dovish on talks of a rate hike, so his decision did surprise markets and pushed sterling higher across the board. The Bank also changed […]

bank of england

Will rates rise?

21st 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 – Data was sparse yesterday as the pound hit a 7-month low against the US dollar in early trading ahead of the House of Commons vote on the Brexit bill. The Pound rose slightly after it was announced that the Government had seen off a rebellion by Conservative MPs to win the vote. There is no reason that the BoE will raise interest rates or tamper with […]

bank of england

Sterling struggles against dollar

20th 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 – Sterling lost value throughout yesterday and reached seven-month lows versus the US dollar. This is largely due to concerns over an escalating trade dispute between the world’s two biggest economies and an anticipation of the Bank of England’s policy stance at tomorrow’s rate decision meeting. Market expectations are for a less than 40 per cent likelihood of the BoE raising interest rates by August and tomorrow’s […]

the white house us

Trump’s trade war continues

19th 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 – There was no data of note from the UK yesterday and there is no data of significance out today. Some political uncertainty has arisen as the House of Lords blocked the government’s EU (Withdrawal) Bill, and their amendment stated that Parliament should have to approve the direction the government takes if there was no final agreement with the EU. 🇪🇺 EUR – Yesterday ECB President Draghi made […]