Sterling getting few votes from analysts

14th June 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 as first round polling got underway in the Conservative leadership contest yesterday. Concerns about a disorderly Brexit persist for the market and this has been the reason for Sterling remaining rangebound around the current levels. The Pound did jump slightly on the news that Boris Johnson had convincingly won the first round. However, analysts cite the low chance of any news helping the […]

Labour Motion Beaten, GBP Falls

13th June 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 began the day on the front foot after Boris Johnson announced that he was not aiming for a no-deal Brexit. He reiterated that we must do better than the current deal and must leave by the 31st October. The comments were deemed positively by the markets who had been factoring in that should Boris Johnson take the PM helm then he would have been […]

UK Jobs Report Steadies the Pound

12th June 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 found support yesterday as average earnings and wage growth beat expectations and the UK Unemployment rate remained flat at an impressive 3.8%. Today we have no data due from the UK, but on the political front, the Labour party has tabled a cross-party motion to stop the future prime minister pushing through a no-deal Brexit against the wishes of MPs. The party plans […]

bank of england

Poor Car Manufacturing Figures Drive Pound Down

11th June 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 poorly yesterday morning after a batch of data showed a rapid slowdown for the UK economy in April. Analysts may have anticipated disappointing figures after the PMI sector data fell below predictions last week, but few would have imagined the scale of the fall seen yesterday. Manufacturing and Industrial fell into negative territory but the headline reading was GDP for April […]

skyline of new york business district

US Jobs in Focus today

7th June 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 briefly struggled again yesterday on Brexit uncertainty following comments from Michael Gove, who said that the 31st October deadline is not a fixed date and that he would approve of taking extra time to get a better deal rather than making the arbitrary deadline the determinant of what a good deal is. Thus putting into question the Brexit timeline further. Today, focus is […]

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US Job Figures Point to Further Rate Cuts?

6th June 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 buoyed yesterday afternoon after Markit Services PMI’s came in better at 51 ahead of an expected print of 50.6. The data eased concerns of a risk to the economy following the disappointing manufacturing and construction figures from earlier this week. Back to Brexit and all eyes are on Boris Johnson and his strategy to deliver a break the EU. Since the start of […]

Fed Chair Powell Hints At Rate Cuts

5th June 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 recovered slightly yesterday following its recent drops against the euro and dollar. This was despite construction PMI being released below market expectations at 48.6. Sterling did not strengthen due to its own merits though. It appeared to bounce back slightly as the Fed signaled it could cut interest rates to maintain growth and inflation came out below expectations in Europe. Today services PMI is […]

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Dollar Drops After Bullard’s Dovish Comments

4th June 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 –  Reports surfaced on Reuters yesterday that short positions on the Pound are at their highest since March 17th which signals that the recent rout on the Pound will continue for some time to come. This is simply a reflection of uncertainty surrounding the outlook for the economy which has been compounded by the 13 Conservative leader candidates struggling to differentiate their Brexit deal visions. Adding […]

Sterling Drops to 2019 Low Vs Dollar

31th 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 remained under selling pressure yesterday making new lows versus both the US dollar and the euro as continued concerns over the Tory leadership and the game of Brexit Deal-or-No-Deal still drags on. Data this morning from Nationwide showed that house prices only rose by 0.6% in April, below markets estimates for 1.2% growth. No significant data out today. 🇪🇺 EUR – The only data […]

Sterling Continues to Struggle as Uncertainty Continues

30th 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 –  Wednesday followed on from Tuesday in having very little data out for the UK. As a result, exchange rates remained relatively stagnant and sterling remained under pressure. This will continue until there is more clarity with regards to the political situation in the UK. MPs in support of hard Brexit remain the favourites to win the Tory leadership election, with Boris the front runner despite […]

rates table

Sterling Directionless After Bank Holiday

29th 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 economic calendar was empty for the UK yesterday continuing the quiet start to the week after the bank holiday. The Pound had been treated kindly by the lack of volume going through the market on Monday but the sideways movement initially appeared to end with a boost to the Pound on Tuesday morning. This was short lived, however, and what followed was a day […]

The End of May

24th 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 –  Theresa May had told the commons that the new withdrawal agreement bill would be published today, however following serious backlash from a number of cabinet ministers forced the publication to be delayed to allow the PM to “listen to her colleagues’ concerns” about the legislation. This caused the pound to slide further as concerns for an orderly Brexit seem to have faded away yesterday. PM […]