bank of england

Carney’s comments hurt the Pound

10th January 2020 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 reacted to Mark Carney’s comments yesterday morning that a “relatively prompt response” could be expected from the Bank of England if the current economic weakness continues. Carney also hinted that the Bank could inject stimulus by delaying an interest rate increase until inflation is well above target rather than return to the policy of quantitative easing. This rather downbeat assessment of options for the Bank […]

boston harbour

US-Iran tensions in the spotlight

9th January 2020 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. Back to Brexit – Brussels has warned the UK, that its hopes of a far-reaching trade deal will be dented if London doesn’t stick closely to EU rules. It seems von der Leyen is trying to take control of negotiations at these early stages, despite stating that talks were starting from a position of “goodwill”. Like […]

Houses of Parliament

UK parliament prepares to debate withdrawal deal

3rd January 2020 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 – It was a strong start to the trading day yesterday, however a strong dollar soon took the wind out of GBP sails as US traders started their trading day and GBP/USD dropped from 1.32 to 1.31. With most investors confident that Boris Johnson’s bill will breeze through parliament by Thursday, focus has shifted to EU-UK trade negotiation talks, with the president of the EU commission coming […]

the white house us

Trump ordered strikes leads to safe havens strengthening

3rd January 2020 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 Manufacturing PMI slid at its fastest rate since July 2012. The figure came out at 47.5, beneath the forecasted figure of 47.6 and down from the 49.1 reading in November, its lowest level in nearly 8 years. Anything below 50 shows contraction and Reuters reported “a tepid global economy hurt demand and businesses further reduced stocks of goods they had built up in […]

blackfriars bridge evening

Bumpy sleigh ride for Sterling

20th December 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 a choppy but positive morning, Sterling suffered heavy losses yesterday afternoon against all major currencies following the Bank of England interest rate decision and statement. The two members who called for a rate cut in November maintained their stance but failed to convince any of their colleagues to join them. The accompanying statement attempted to dismiss market concerns that a rate cut is on […]

Bus in Westminster

Pressure on pound remains as inflation drops

19th December 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 sterling continued its losing streak as it prepares itself for Friday’s vote. Again, it comes down to that worry of the no-deal Brexit once again showing its face. After all its continued strength the pound is on course for its biggest two day fall in nearly two years. JP Morgan has released an statement showing an uncomfortably high chance of the UK leaving with […]

Downing Street sign

Johnson looks to resolve Brexit in 2020

17th December 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 has dropped nearly 2 cents against the euro and dollar overnight. The reason for this is because Boris Johnson is looking to pass his Brexit Bill this week. However, he is adding in an additional clause, which makes it illegal for the government to extend Brexit beyond the end of next year. As the government will only have until the end of 2020 to […]

rates table

Johnson’s “stonking” election win sees sterling continue to soar

16th December 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 –  Many of the British public, including investors, breathed a huge sigh of relief on Friday, as Boris Johnson’s staggering win in the election saw the pound soar 2.5% higher against most of its major counterparts. Sterling reached a 19-month high versus the dollar and its strongest levels against the euro since shortly after the 2016 Brexit referendum. Mid-day trading on Friday however, did see a […]

Election results imminent as markets remain volatile

12th December 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 saw no data releases for the UK, as sterling movement continues to be reactive to election polls which trigger traders to take their market positions. The expectation is that anything other than a Tory majority will cause the pound to fall sharply, however there could still be room for sterling to strengthen with a conservative majority. Recent polls have indicated that the Labour party […]

Tower Bridge

Sterling experiences last minute wobble

11th December 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 to hold its recent levels during the day yesterday as the final days of campaigning take place. The Pound briefly hit a seven month high against the US Dollar in the morning before edging back slightly. This was despite the UK economy experiencing zero growth in October and posting its lowest annual growth in nearly 7 years. Sterling is solely focused on the […]

City of London

Sterling still high

10th December 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 general election only 2 days away sterling rallied to a new 31-month high against the Euro and the highest level since April against USD. Yet again traders pointed towards the Conservative party maintaining a majority in the polls as the reason behind the pound strengthening yesterday. The final and most significant poll is taking place this evening at 10pm – the YouGov MRP […]

Pound climbs to 31 month high versus the Euro

9th December 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 impressive run on Friday making new highs across the board as the polls continue to put the Tories ahead. Sterling versus the euro is now at a new 2 ½ year high. The pound has even continued to rise this morning as we head into the final week of the UK general election after the closely watched MRP poll on Sunday gave […]