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 […]

blackfriars bridge evening

Carney’s hawkish tone strengthens sterling

6th 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 – Services PMI came in above expectations yesterday which gave the pound a slight boost following monday’s worse than expected construction PMI. Following on from this, Mark Carney spoke yesterday afternoon and stated that there was a “degree of slack” opening in the UK economy. He also went on to say that the market’s expectations for future interest rate rises may not be “high enough”, allowing sterling […]

rates table

Pound Hit as Brexit Hits UK Construction Sector

5th 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 – Brexit uncertainty reared its ugly head again as data revealed that the construction sector contracted for the first time in 11 months down to 49.5. Risk aversion and delays in decision making has caused a slowdown on workloads as well as subdued client demand on commercial projects. Sterling fell on the back of the data all be it a minor loss on the day. Today see’s […]

europe union building

Sterling drops as EU pushes back on short extension request

21st 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 pound was once again a hostage to political uncertainty following the PM’s request to extend article 50 to 30th June. Sterling dropped across the board as the feeling in the market now seems to be that without the backing of parliament then the request may well be meaningless. EC President Donald Tusk seemed to back this by stating that he believed the EU would sign […]

eu flag with union flag star

Sterling optimism subsides as week draws to an end

1st 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 – With a lack of data, as expected there was minimal movement for the pound during the session. Sterling was relatively range bound throughout the day but did trade lower following this week’s unexpected surge. Largely, we can attribute the pound’s success to the fact that Brussels came out with such a strong stance on the extension, allowing investors to assess the continued uncertainty about how and […]

blackfriars bridge evening

Sterling showing signs of altitude sickness

28th February 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 rapid ascent yesterday as it built on gains from Tuesday. Momentum has been built as a result of a delay to the Brexit deadline looking almost inevitable and the possibility for the first time that no deal will be taken off the table of options for the UK Government. Sterling has been held artificially lower due to these concerns and markets have jumped […]

us federal reserve

21-Month High for the Pound

27th February 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 leapt to its best levels in 21 months yesterday against the euro, after Theresa May offered lawmakers an opportunity to vote on delaying Brexit. Markets reacted immediately to the increasing possibility of a supposedly chaotic no-deal departure from the EU being avoided. The currency also bounced by 1.4 per cent versus the US dollar to a 5-month high. It should be noted that investors […]

gb and eu flags

Pound Boosted as May Considers Delay to Brexit

26th February 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 rallied overnight and has continued this morning after reports suggest that Theresa May will propose to Cabinet today she will formally rule out a No Deal Brexit. The PM will then reveal the Cabinet’s conclusions in an announcement to parliament later today. This could open up the possibility to delay Brexit if parliament fails to back her withdrawal agreement in the next few weeks. […]