rates table

Fresh hopes of a deal causes GBP to climb

19th September 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’s positive moves continued late in the afternoon and has continued into the morning on fresh hopes from the EU that a Brexit deal may well be reached. Jean Claude Juncker commented in the afternoon that the EU may well soften it’s stance on the Irish Backstop issue and felt confident some kind of accord could be reached with the UK. As a result sterling […]

skyline of new york business district

Fed cuts rates by 0.25%

19th September 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, UK inflation data missed its forecasted figures. The headline Consumer Price Index annual figure released at 1.7%, beneath the 1.9% forecasted figure. The monthly figure was released at 0.4%, short of the 0.5% estimate and the core figure was 1.5%, beneath the 1.8% estimate. Sterling weakened slightly following these figures. European Commission President, Jean-Claude Juncker, said the risk of a no deal Brexit […]

us federal reserve

Fed expected to cut interest rates further

18th September 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 of significance from the UK yesterday. However, the risk of a hard Brexit has reduced, and therefore sterling has maintained its recent momentum. Sterling reached a new high against the dollar since the 25th July, and a new high against the euro since 7th June – testing upside resistance levels. Today CPI is being released from the UK at 9.30am and […]

Supreme Court hearings in focus

17th September 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 –  After being lambasted by the Luxembourg PM for failing to turn up for a press conference, Boris Johnson will once again come under pressure as the legalities of his decision to suspend parliament will be debated by the Supreme Court. Talks between Johnson and EU official Juncker failed to deliver any breakthrough in any kind of Brexit deal with Juncker commenting that Boris has failed […]

Boris heads to meet Juncker

16th September 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 traded higher on Friday, rising to its highest level since late July of 0.8% on the back of news reports providing fresh impetus to hopes that a disorderly ‘no-deal’ Brexit will be avoided on 31st October and because of the broad based USD weakness. The rally came after a report in the Times which claims the DUP were willing to abide by some European […]

europe union building

Draghi calls EU states to action

13th September 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 of note from the UK yesterday, and there is no data of note being released today. Details of the judgement which ruled the suspension of Parliament unlawful were revealed, with the judges feeling that the move was sought in a clandestine manner. There are also accusations being thrown around that Boris Johnson has lied to the Queen, as the controversial nature […]

houses of parliaments

Labour ask for recall of Parliament

12th September 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 was relatively range-bound again yesterday, staying within reach of its recent 5-6 week highs versus the euro and dollar in the absence of any significant news flows during the course of European trading. In the evening we saw the government release details of its report on the worst case scenario should there be a no deal Brexit, entitled Operation Yellowhammer. Key points in the […]

Sterling rises after average earnings increases

11th September 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 –  Monday evening, parliament was suspended to chants of “shame on you” after Boris Johnson implemented his prorogation of Parliament. Realistically there will be very few political developments over the next five weeks, unless Boris Johnson was able to gain momentum behind an amended deal prior to the EU summit in October. Yesterday sterling gained momentum as average earnings reached the highest levels for a decade, […]

Good growth for UK surprises markets

10th September 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 another volatile day yesterday but for once, it was economic data that created the movement. The Pound had lost ground through the early hours, but surprisingly strong growth figures provided a boost. The GDP figure for July rose to 0.3%, up from a previous of 0.0% and is the best figure for 6 months. This will help to allay fears that the UK […]

Boris down but not out

9th September 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 higher last week with support coming for the currency on the probability that Brexit will be delayed until the end of January as well as the prospect of an election being called being allayed for now. Adding to Boris Johnson’s woes of last week, UK work secretary Amber Rudd quit the PM’s cabinet on the weekend with a scathing attack on […]

rates table

Sterling has best week since May

6th September 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 posted its best 2-day surge in 10 months, as the no-deal fears of Brexit appear to be fading in the short term. Although the prime minister is expected to try and seek an election for October again next week, the Labour party’s stance is to not back a general election until the risk of no-deal is off the table. Due to the Fixed-term Parliaments […]

General election blocked…. for now

5th September 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 were dramatic scenes in parliament yesterday. The day begun with Sajid Javid declaring that the government has “turned the page on austerity”, as the government set out its plans to increase spending across all departments. Normally, this would have been the key political event of the day, however this was not to be case as Brexit once again filled the agenda. Parliament voted through […]