rates table

Sterling shedding gains rapidly

27th 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 came down to Earth with a bump yesterday as it hit two week lows after reaching multi-month highs just two days before. The market seems to be increasingly nervy with the lack of clarity on the next steps to resolve the Brexit deadlock. A General Election now seems inevitable which has been negative for the Pound at every stage. The Pound has lost further […]

the white house us

Impeachment inquiry strengthens dollar

26th 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 –  With no data out for the UK yesterday, the pound fell 1% to 2 week lows against a basket of currencies including the euro and US dollar. The drop could be linked to the fact that UK seems to be caught up in a never ending limbo, possibly deterring investment in the pound. The move down also ceded gains made on Tuesday follow the Supreme […]

Johnson loses Supreme Court case, parliament recalled

25th 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 initially buoyed yesterday following Britain’s Supreme Court ruling unanimously that Boris Johnson’s prorogation of parliament was unlawful. As a result, MPs and peers will return to Parliament later today with Johnson facing calls to resign. Despite this, opposition parties are likely to refute Johnson’s request for a general election, until a no-deal Brexit is completely off the cards. Political developments will likely be […]

Labour conference in focus

23th 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 benefited last week reaching 4 month highs against the Euro and 3 month highs against the dollar. This was triggered by European Commission President Jean-Claude Junker who said “we can have a deal” and “Brexit will happen”. Analysts now believe that the likelihood of the UK leaving the EU without a deal has fallen below 20%. The key falling point for Boris has been […]

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 […]

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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, […]