Sterling Falls for 13th Consecutive Day

22th May 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 lower again yesterday – extending its 13-day losing streak. There was a signs of potential bounce back in the afternoon when PM May offered MP’s to vote on holding a 2nd referendum. However the bullish sentiment on the pound was very short lived with gains quickly erased and the pound continuing its downward spiral Rumours overnight, according to BBC political editor Laura Kuenssberg, […]

houses of parliaments

Cable Levels Drop Again, Vince Cable’s Party Making Gains

21th May 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 week on the right foot yesterday by climbing off the 5-month lows seen at the end of last week. This was attributed to hopes that May’s “new, bold offer” will provide a way out of the current deadlock but the market remained very sceptical and the moves were accordingly minimal and short-lived. It is also possible that markets were taking profit before […]

europe union building

Political Risks Reaching a Peak

20th May 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 negative statistics for the Pound kept stacking up last week. Sterling strung together ten consecutive sessions of falls and had its worst week since February 9th 2018. The Pound fell to its lowest level against the US Dollar since January 11th and February 19th against the Euro. The Pound broke out of its recent tight ranges with widely spaced support levels punched through. The […]

Prime Minister Endgame

17th May 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 coming under mounting pressure from senior Tory MPs, UK PM Theresa May has promised to set a timetable for the election of her successor in the first week of June, after the next Brexit vote. However, there have been suggestions that the PM will resin if she loses the vote on her Brexit plan for the fourth time. Focus now will be on the […]

city sky

Brexit Uncertainty Hampers Sterling

16th May 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 touched new lows against the euro and dollar yesterday. These were the lowest levels since the middle of February. The reason for this drop was because it appears that the cross-party talks appear to be failing to reach a consensus. A fourth Brexit vote which is pencilled in for June, is widely expected to spell the end of Theresa May, and could add more […]

Brexit Bill Back to Parliament in 3 Weeks

15th May 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 continued its downward trend hitting lows last seen in mid-March versus the euro and a new two week low versus the US dollar. Data from the job market was positive with the unemployment rate hitting a new low since 1974 down to 3.8% and wage growth fell in line with consensus at 3.3% and in line with the Bank of England’s narrative. Regarding Brexit, […]

US-China Trade War Escalation Rocks Market

14th May 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. Despite this, sterling dropped off as a by-product of China saying it would raise tariffs on $60bn of American goods. Theresa May is expected to press ahead with talks with Labour despite various sources stating they are close to collapse. Thirteen of May’s former cabinet colleagues wrote to warn the prime minister that the conservative […]

Brexit Woes Dampen Pound

13th May 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 lower on Friday, continuing the downtrend played out during the week. Against the euro, the pound lost 1.74% last week and against the dollar 1.05%. Losses for the pound were attributed to the expectation that cross-party Brexit talks are heading towards failure. Even Friday’s data failed to lift the mood for the pound with industrial and manufacturing production figures year on year overshooting […]

Pound Stabilizes

10th May 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 managed to stabilize yesterday after what has been a difficult week. A positive finish to last week seen the pound finish at monthly highs, this trend quickly reversed at the start of this week as Brexit talks between Labour and the Conservative party broke down. Brexit has been the key driver all week, however with GDP figures out today the pound will have […]

What Goes Up – Must Come Down

9th May 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 fragility was laid bare again yesterday as the Pound’s slide from earlier in the week continued throughout the day. ITV’s Political Editor Robert Peston played market pot-stirrer in chief once again after a report that Labour was close to terminating talks with the Government today to enable the publishing of its EU Election Manifesto. With a lack of economic data, the Pound fell by […]

blackfriars bridge evening

Gloomy May Pours on Sterling

8th May 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 lost the gains it made on Friday after Theresa May’s team appeared to be pessimistic over a Brexit accord with the Labour party, shifting talks into unknown territory once again. As a result, David Lidington, Cabinet Office minister, commented that the EU elections will go ahead in the UK on May 23rd. He later added that July 2nd is now the governments new deadline […]

Brexit and China Trade War in Focus This Week

7th May 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 –  On Friday afternoon, the pound rallied higher to new 5 week highs against the euro and month highs against the dollar, as speculation grew that following the devastating defeat in the local elections, the government is ready to offer further compromises to Labour, which would mean a potential Brexit agreement this week. In addition, the pound found support from comments made by Labour Leader, Jeremy […]