us federal reserve

Fed Minutes support stronger USD

18th October 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. 🇺🇸 USD – The significant FX news out of the US yesterday centres around the minutes of the Federal Reserve’s September meeting as well as the US Treasuries semi-annual FX report. As part of the minutes, we saw a hawkish-led Fed continue to tout the need for a more restrictive interest rate policy going forward as the economy continues to outperform. As such, a December rate hike looks increasingly […]

europe union building

‘No Optimism’ for Brussels Brexit Breakthrough

17th October 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 – Today sees the much talked about EU summit kicking off, for which there had been previously been much hope of a Brexit deal. Instead, today’s meeting in Brussels is now being considered nothing more than a continuation of negotiations as Donald Tusk has deemed there is ‘no optimism’ for a breakthrough. On the plus side, its participants are playing down the chances of a deal, allowing […]

rates table

Wages Up, Unemployment Down

16th October 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 – Today saw the release of important wage-growth data out for the UK, as part of which average earnings (excluding bonuses) rose 3.1% in the three months through August, the highest since January 2009 while unemployment held at 4%, a 43-year low; GBP/USD and GBP/EUR moved sharply higher this morning as a result. However, it remains to be seen how long we see these elevated rates as […]

london-skyline-night

Sterling on the back foot

15th October 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 started this week firmly on the back foot, as Brexit headlines continue to dictate the fate of the currency as negotiations stall. The main issue appears to be that of the Irish backstop as this weekend, Dominic Raab was forced to make a last-minute trip to Brussels to explain to Michel Barnier that due in part to political instability in the UK – a […]

houses of parliaments

Brexit Deal ‘Close’

12th October 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 – Reports out of the Financial Times this morning claim that Theresa May has briefed her inner cabinet that a historic Brexit deal is close, with the key issue of the Irish backstop close to being settled. However, as it currently stands – there is talk that two Eurosceptic cabinet ministers (Andrea Leadsom and Esther McVey) were ready to quit if May agrees to the backstop agreement […]

gb and eu flags

Barnier boosts, DUP debilitates

11th October 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 – Last night Theresa May’s coalition partner, the DUP threatened to call the police on the Brexit party by warning that they would vote down the UK budget and May’s leadership in early November if their wishes weren’t respected on the Irish border issue. This is after Michel Barnier helped Sterling surge past $1.32 yesterday in a speech that indicated that the UK Brexit deal was 80-85% […]

europe union building

Brexit Trumps Data

10th October 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 made another strong start this morning hitting fresh four-month highs against the Euro, whilst also making solid gains against the Dollar. Unfortunately, no prizes for guessing the major cause for this as news coming out this morning claimed that further progress had been made in Brexit negotiations over the Irish border backstop. In addition, reports have also emerged that between 30 to 40 lawmakers from […]

city sky

Global Growth Stalls

9th October 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. ?? USD – As a result of global trade conflicts, the IMF downgraded its global GDP forecast for 2019 from 3.9% to 3.7%, due to the rise in trade wars and vulnerabilities in various emerging market countries. In addition to this, as part of their report – the IMF estimate that global GDP may fall by 0.8% by 2020. Included in this calculation is the belief that US […]