Labour launches manifesto

21th November 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. Sterling dropped off marginally though following on from the TV debates on Tuesday evening, as the opinion of the public was that the debate was a tie. Today public sector borrowing is being released from the UK, however regardless of the data it is unlikely to impact sterling. Today the Labour Party will launch its […]

Corbyn performs better than expected – Sterling drops

20th November 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 pound traded relatively flat yesterday but proceeded to drop around 0.3% against both the other majors this morning. Johnson and Corbyn faced off last night on a televised ITV debate in which Corbyn only narrowly came out behind Johnson, receiving 49% in a YouGov vote judging both of their performances. It was widely expected that Johnson would overwhelm Corbyn, but the latter seemingly holding […]

Sterling remains buoyant as Tories extend lead

19th November 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 pound had taken a short term swing as we gain around 0.4% due to the Conservatives lead increasing over the labour party by 10 to 17 percentage points, however this was short lived as Boris pulled back on his remarks of cutting corporation tax for businesses. We don’t have any data of note for the UK to report on, therefore tonight’s face off between […]

city sky

Sterling makes new 6 month highs

15th November 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 toyed with a new 6 month high versus the euro on the back of continued optimism and odds of Conservative majority government. Last Friday, implied odds were at 40% but have now risen to 63% as opinion polls continue to put the Tories ahead of Labour. On the economic front, retail sales growth slowed surprisingly despite heavy discounting by retailers – sales volumes dropped […]

rates table

Sterling tracking the polls

13th November 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 initially edged lower yesterday as markets digested the latest updates from the Brexit Party. Traders concluded that the Pound had been over bought on Monday following analysis that the Brexit Party’s decision to not run in Conservative held seats would have a minimal effect. Added to this, the rejection of calls from them to stand aside in Tory target seats hurt the Pound as […]

houses of parliaments

Brexit party pledge boosts sterling

12th November 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 GDP figures were released from the UK. The figures were marginally worse than the market expected at 0.3% and meant the year to year growth had slowed to 1% from 1.3%. This had minimal impact on sterling though. Sterling picked up following an announcement from Nigel Farage that the Brexit party would not oppose the Conservatives in the 317 seats they won during […]

Four consecutive mornings of UK data this week

11th November 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 –  Throughout the trading day on Friday Sterling declined against its major currency pairs. It dropped to a 3-week low against the US dollar. A Panelbase poll on the general election revealed the Conservatives backing remains the same reading as Panelbase’s last poll, 40%. Both Labour and the Lib Dems have gained 1%, Labour at 30% and Lib Dem’s at 15%, with the Brexit party down […]

bank of england

Bank of England indicate rate cut

8th November 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 –  With the UK elections firmly underway we now see parties publish their campaigns to for the battle of leadership of the nation. A recent poll still has the conservative party in the lead, however that has dropped over that last few days by 11 points. Sterling came into play again yesterday after hitting one-week lows vs dollar as markets temporarily shifted its focus to the […]

Boris to visit the Queen

6th November 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 down for the day yesterday against USD and some other major currency pairs. The Conservative party general election is due to start after Boris Johnson’s visit to Buckingham palace today. The Prime Minister has compared Jeremy Corbyn to Stalin for his hatred towards wealthy people after the opposition leader labelled the PM’s Brexit plan “Thatcherism on steroids”. Corbyn went onto say that Johnson […]

Corbyn reveals party tactics as election campaign begins

5th November 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 –  Like for like sales in October saw a 0.1% increase, as UK retailers pulled out the stops on promotional activity to boost sales. The marginal increase did little to help the pound however, as sterling struggled against most major currencies. The slump yesterday can likely be attributed to growing political uncertainty in the UK, and a slowdown in construction growth. Against the dollar, the pound […]

Sterling steady as election campaigning begins

4th November 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 –  A different narrative was supposed to be written today for how Sterling was coping with its first few days out of the European Union. As it is, the Pound held its gains last week as the prospect of a Christmas election became reality. Previously, Sterling movements had been negatively affected by election threats, but the market now seems content that a no deal Brexit is […]

EU GDP is resilient

1st November 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 remained relatively strong yesterday as initial estimates suggest that Boris Johnson is on course for a majority in the general election. This gave sterling some support despite no data yesterday. This morning manufacturing PMI is due to be released at 10.30am. It is expected to marginally drop by the market, although it is unlikely to have a significant impact as politics appears to be […]