houses of parliaments

MPs Seize Control of the Commons

26th March 2019 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 a lack of data from the UK yesterday, however there were Brexit developments – although these had minimal impact on the exchange rates. MPs voted in an unprecedented move to take control of the parliamentary timetable. This means on Wednesday MPs will be able to put forward their own motions relating to Brexit, and there will therefore be a series of votes on […]

PM Urged to Quit

25th March 2019 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 finished the week marginally lower in what proved to be tumultuous week for Brexit and UK politics. To summarise, the EU have proposed for an extension of Article 50 until the 22nd May providing parliament approve a withdrawal agreement by the end of this week. Failure to do so and the extension will be rolled in to the 12th April at which point the […]

Brexit rolls on

22nd March 2019 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 morning retail sales came out above market expectations at 0.4%. The market had been expecting negative data, so the fact it came out as positive shows the retail sector has remained resilient despite the uncertainty surrounding Brexit. The Bank of England’s monetary policy committee unanimously voted to keep interest rates at 0.75% yesterday. Economic data has been rather mixed, with low unemployment and high […]

london-skyline

Brexit Extension in Focus

20th March 2019 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 UK’s ILO unemployment rate surprised the market and slid to a 44 year low in the three months from January 2019. Average earnings also picked up and kept the pound stable yesterday morning. However, Sterling fell off slightly throughout the day, as markets learned of a letter sent by UK PM Theresa May to EU council President Donald Tusk, outlining why the UK wants […]

Bercow Deals Blow to the PM

19th March 2019 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 –  Theresa May took a heavy blow yesterday after House of Commons Speaker, John Bercow, warned that the PM cannot bring the same motion to back to the Commons again to vote on. He stated that the deal must be “fundamentally different” and thus something new must be agreed with the EU. A vote was pencilled in for Tuesday however Bercow’s ruling now decreases May’s chances […]

Brexit and the Fed in Focus This Week

18th March 2019 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 had a volatile week following a string of Brexit votes last week. On Tuesday we saw, unsurprisingly, Theresa May’s deal get voted down for the second time; Wednesday we saw Parliament reject a no deal Brexit and on Thursday, parliament voted to show their support for a delay in Article 50 being triggered. Sterling finished the week broadly higher and remains near multi month […]

houses of parliaments

MPs Vote on Delaying Brexit

15th March 2019 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 –  Parliament yesterday voted to extend Article 50 past 29th March as was expected. However, this went through due to support of opposition parties as a significant proportion of Conservative MPs (including Brexit Secretary Stephen Barclay and six other cabinet ministers) voted against the government’s motion. An amendment for another for another referendum was defeated as the Labour MPS were ordered to abstain. A further amendment […]

bank of england

Sterling continues to climb as Brexit no deal gets ruled out

14th March 2019 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 hit the peaks of Monday after Parliament voted against the threat of a no deal on 29th March. Focus today will now be at 5pm, where parliament will vote on a motion that sets Wednesday 20th March as the deadline for MP’s to pass a third vote on a Brexit deal. If that is passed, then the government will seek and an extension of […]

Legally Binding Brexit Changes Agreed to

12th March 2019 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 shot up to multi month highs last night following positive news surrounding the outcome of Brexit. Theresa May flew to Strasbourg yesterday evening to meet Claude Juncker and came back with ‘legally binding changes’ to her deal which will hopefully make the deal more palatable to MP in the vote tonight. Members of parliament have already commented with Labour suggesting that the agreement does […]

houses of parliaments

May’s Deal Expected to be Rejected

11th March 2019 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 out on Friday, but markets appeared to be spooked heading into the weekend after the EU unveiled a proposal on Friday that the UK had rejected days earlier. The pound finished lower on the week against most of its peers. The only key Brexit development over the weekend was PM Theresa May and EU President Jean-Claude Juncker having a telephone conversation […]

travel money

Euro weakens as ECB Launches Fresh Stimulus.

8th March 2019 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 fell yesterday, noticeably against the dollar as Brexit negotiations seem to struggle again. With the European Commission stationing that the Brexit negotiations have been difficult and “no solution has been identified” to the Irish backstop. The EU has reportedly given Theresa May 48 hours to come up with a new plan for the backstop to help break the deadlock. No real data to be […]

gb and eu flags

EUR Pessimistic that a Brexit deal could be reached.

7th March 2019 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 started the day on the backfoot after the OECD warned that a no deal Brexit could mean a recession for the UK. They now expect the UK will grow by 0.8% this year, down from 1.4% in 2018. On top of this Sir Jon Cunliffe, deputy governor of the BoE, warned that a disorderly Brexit would pose a big threat to the financial stability for […]