city sky

Pound stalls as the Brexit storm clouds gather again

15th 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 – Confusion reigns again at Westminster as Theresa May suffered another commons defeat on the endorsement of her current negotiating strategy. MP’s voted by 303-258 against the government with the Conservative ERG group abstaining as expected. While the vote is not legally binding the result does show how fragile May’s position is and as such again undermines her desire for a coherent parliamentary message to present to […]

building-front

Parliament to debate Brexit as GBP plays the range

14th 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 Brexit focus returns to Westminster today with MP’s convening for another days debate on everyone’s favourite subject. While the absence of a “Meaningful vote” has diminished the days importance somewhat MP’s will have the chance to air their views and table amendments to influence the governments accountability. PM May could also face a showdown with her pro-Brexiteers as the so called Brady amendment, which calls […]

wall street sign and flags

Dollar Dominance Continues

12th 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 – Preliminary fourth quarter growth figures disappointed yesterday, down at 1.3%, worse than the expected fall to 1.4%. Manufacturing and industrial production figures also disappointed causing the pound to struggle to make any advances yesterday. On the latest Brexit update, Theresa May discussed changes to the key blocks in the Brexit negotiations with former EC President Herman Van Rompuy. From the EU side, Michel Barmier suggested that […]

london-skyline-night

GBP Data Takes Centre Stage This Week

11th 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 bounced back from is two-week lows against the dollar on Thursday following Mark Carney’s closing remarks on super Thursday. This means GBP/EUR and GBP/USD remains at very similar levels to this time last week. There is key economic data from the UK today, and this will potentially move sterling outside of the current resistance levels. GDP and Prelim GDP are expected to fall from previous […]

bank of england

Falling Growth Forecasts

8th 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 has fallen back into the mid-1.2950 range following yesterday’s Bank of England press conference where interest rates were unanimously kept on hold, while Governor Mark Carney indicated that any future moves would be entirely Brexit dependent. As part of the release, the BoE said that 2019 was the year in which Britain was likely to experience its weakest economic growth in ten years blaming the […]

From Belfast to Brussels

7th 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 slipped to fresh two-week lows against the dollar this morning ahead of the Bank of England’s MPC meeting to announce its interest rate plans. As part of this, they are expected to leave policy unchanged as they seek to maintain a steady approach to tightening. Alongside this, we expect Mark Carney to strike a note of caution around Brexit and the possible dangers of a […]

houses of parliaments

Secret Brexit Talks

6th 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 remains on the backfoot this morning as, following a drop-off overnight, the pound briefly hit $1.2923, which is its lowest rate since January 22nd. It has since recovered to continue trading the range it has been in since 6pm yesterday. This was after reports indicated that Prime Minister Theresa May had come to accept that the Irish backstop would have to be part of any […]

blackfriars bridge evening

Data keeps the Pound Down

5th 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 – Following last week’s disappointing UK January manufacturing and construction PMI, today’s services PMI came out below expectations as a number of 50.1 indicated minimal growth for the UK for December. The primary cause for this is that firms are remaining cautious in their yearly planning in light of Brexit uncertainty. As such, Sterling is trading slightly lower this morning following the release – but as always, […]

gb and eu flags

Back to the Brexit Drawing Board

4th 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 – Unfortunately for our readers, for whom the Brexit saga has now likely reached a saturation point – today will see PM Theresa May stay in Downing Street as she prepares a new deal to present to Brussels later on this week. However, given the EU’s refusal to negotiate on the current deal, we expect a response of continued intransigence, meaning that the 14th February is the […]

building-front

UK PMI’s Punish Pound

1st 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 – Data out this morning from the UK came in lower than expected as the UK’s January manufacturing PMI hit a 3 month low of 52.8. This figure can be considered a big miss as the underlying trends in output and orders remain lacklustre as it appears businesses continue to be more wary about the lack of progress on Brexit. And indeed that remains only word on […]

rates table

Data Driven Euro & Dollar

31st January 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 – GBP/USD continues to trade a one cent range in the aftermath of Tuesday’s events as the various parties involved remain locked in a Mexican standoff of sorts as we wait to see who will blink first in negotiations if anyone. On the one side of Theresa May, we have the EU’s chief negotiator Michel Barnier who has deemed the Irish backstop ‘part and parcel’ of the […]

europe union building

Brexit latest: Back to Brussels

30th January 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 – To summarise the key votes that passed in parliament last night, firstly we saw the majority of the Commons back a plan for Theresa May to return to Brussels to formally renegotiate the Irish backstop. However, very soon after the vote, European Council President Donald Tusk said that the divorce deal was not up for renegotiation; a statement corroborated by French President Emmanuel Macron, which helped […]