europe union building

‘No Optimism’ for Brussels Brexit Breakthrough

17th October 2018 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 – Today sees the much talked about EU summit kicking off, for which there had been previously been much hope of a Brexit deal. Instead, today’s meeting in Brussels is now being considered nothing more than a continuation of negotiations as Donald Tusk has deemed there is ‘no optimism’ for a breakthrough. On the plus side, its participants are playing down the chances of a deal, allowing […]

rates table

Wages Up, Unemployment Down

16th October 2018 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 – Today saw the release of important wage-growth data out for the UK, as part of which average earnings (excluding bonuses) rose 3.1% in the three months through August, the highest since January 2009 while unemployment held at 4%, a 43-year low; GBP/USD and GBP/EUR moved sharply higher this morning as a result. However, it remains to be seen how long we see these elevated rates as […]

london-skyline-night

Sterling on the back foot

15th October 2018 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 started this week firmly on the back foot, as Brexit headlines continue to dictate the fate of the currency as negotiations stall. The main issue appears to be that of the Irish backstop as this weekend, Dominic Raab was forced to make a last-minute trip to Brussels to explain to Michel Barnier that due in part to political instability in the UK – a […]

houses of parliaments

Brexit Deal ‘Close’

12th October 2018 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 – Reports out of the Financial Times this morning claim that Theresa May has briefed her inner cabinet that a historic Brexit deal is close, with the key issue of the Irish backstop close to being settled. However, as it currently stands – there is talk that two Eurosceptic cabinet ministers (Andrea Leadsom and Esther McVey) were ready to quit if May agrees to the backstop agreement […]

gb and eu flags

Barnier boosts, DUP debilitates

11th October 2018 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 – Last night Theresa May’s coalition partner, the DUP threatened to call the police on the Brexit party by warning that they would vote down the UK budget and May’s leadership in early November if their wishes weren’t respected on the Irish border issue. This is after Michel Barnier helped Sterling surge past $1.32 yesterday in a speech that indicated that the UK Brexit deal was 80-85% […]

europe union building

Brexit Trumps Data

10th October 2018 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 made another strong start this morning hitting fresh four-month highs against the Euro, whilst also making solid gains against the Dollar. Unfortunately, no prizes for guessing the major cause for this as news coming out this morning claimed that further progress had been made in Brexit negotiations over the Irish border backstop. In addition, reports have also emerged that between 30 to 40 lawmakers from […]

city sky

Global Growth Stalls

9th October 2018 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. ?? USD – As a result of global trade conflicts, the IMF downgraded its global GDP forecast for 2019 from 3.9% to 3.7%, due to the rise in trade wars and vulnerabilities in various emerging market countries. In addition to this, as part of their report – the IMF estimate that global GDP may fall by 0.8% by 2020. Included in this calculation is the belief that US […]

statue of liberty

US Working Harder, Better, Faster, Stronger

8th October 2018 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. ?? USD –Last week’s Dollar headlines were punctuated by a very noisy US Jobs report on Friday in which the US economy sent a number of different messages to the market. Firstly, the US economy added 134,000 jobs vs. a forecasted 185,000 which was the lowest reading for the year. However, this negative news was offset by the revision to August figures from 201,000 to 270,000. In addition, […]

stockmarket-mobile

Dollar Dominant

5th October 2018 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. ?? USD –The Dollar has remained strong this past week; initially this was due to last week’s forward guidance which forecast interest rates increasing once in December 2018, three times in 2019 and once more in 2020. However since then, the greenback has received further boosts from better-than-expected economic data this week which has helped to paint a rosy picture of the US economy as a whole, with […]

rates table

Moves like May

4th October 2018 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 focus yesterday was on Prime Minister Theresa May’s Conservative Party Conference speech as investors looked for any indication towards the next step in Brexit negotiations. However, with nothing new of substance coming out of May’s speech, attention returned to her questionable dance moves which split opinion – with some arguing she should focus on more important matters, with others claiming ‘the Maybot’ to have the […]

london-skyline-night

Chuck Chequers

3rd October 2018 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 – As Brexit negotiations continue to rumble on, we still see positive headlines providing short term support for the pound, with longer term concerns as to whether the House of Commons will support any deal agreed with the E.U. helping to keep rates in check. As such, news over the weekend that PM Theresa May will make concessions on the Irish border backstop provided some sterling relief. […]

city sky

Euro Slumps and US Dollar Continues its Positive Trend

2nd October 2018 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 started the week on the front foot after UK manufacturing data beat expectations to rise to 53.8 in September. Growth in the sector has been credited due to a solid increase in new orders in both domestic and international markets as well as an increase in jobs. Later in the afternoon sterling got another boost after a senior government official revealed that the Premier […]