currency

Ghoulish EU Growth

31st 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. 🇪🇺 EUR – Data out yesterday showed that the Eurozone economy stumbled in Q3, growing at a rate of 0.2% (vs. an expectation of 0.4%) – the slowest rate in four years. On a country by country basis, Germany struggled following new emission standards which cost auto businesses, as Chinese buyers also ordered less German cars. In France, data was below expectations but growth still improved on Q2, […]

london-skyline-night

Brexit Budget

30th 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. 🇪🇺 EUR – In a move that surprised all interested parties, yesterday Angela Merkel agreed to step down as the leader of her CDU party following its significant losses in this weekend’s elections in the state of Hess. She will however remain in the position of Chancellor until 2021, which is the natural end of her term. Her decision to step down was following a series of poor […]

london-skyline

Same Old, Same Old

29th 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. 🇪🇺 EUR – Most of the news over the weekend was out of Europe, as the Euro remained under pressure as the Italian government and the EU continue their stalemate, with deputy Prime Ministers Salvini and Di Maio both indicating an unwillingness to change the budget from its current form. This is after Mario Dragi, the ECB President made a conscious effort to inject some calm into the […]

europe union building

Draghi Dictates Market Direction

26th 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. 🇪🇺 EUR – The big event yesterday was the ECB MPC meeting, for which there was plenty of market anticipation as to how Mario Draghi would explain the softening Eurozone growth. Fortunately, “Super Mario” very much stuck to his guns, as he emphasised a balanced picture of the current economic situation with claims that inflation was on course to reach its target, while confidence was growing. Given that […]

houses of parliaments

May, lives to fight another Day

25th 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 – Yesterday saw the Pound hit seven-week lows against the Dollar as the ongoing tensions surrounding Brexit negotiations continued to have their say. In the European session, investors were awaiting the meeting between the Prime Minister and a committee made up of elected backbenchers; thankfully for the PM, the 1922 Committee applauded what was deemed a heartfelt appeal for unity over Brexit as she urged her critics […]

italy eu flags

Budget Denied

24th 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. 🇪🇺 EUR – As expected, the European Commission officially rejected Italy’s draft 2019 budget yesterday, requesting that it be resubmitted for the first time in EU history as the commission seeks a Budget with a more sustainable fiscal path, as well as a smaller structural deficit. The EU are also seeking clarification on the overly optimistic growth forecasts (averaging 1.5% YoY) for the next three years. Much like […]

blackfriars bridge evening

Beware the ides of March

23rd 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 – Yesterday, continued fears around the issue of the Irish border, and disagreements within the Tory party regarding any potential solution collectively helped Sterling suffer its worst day in a month. Following this, the sharp sterling sell off was exacerbated by news that the DUP (the Northern Irish party that helped May secure a majority government), would back an amendment proposed by rebel Brexiteer lawmakers which would […]

houses of parliaments

Brexit: “Killing Zone”

22nd 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 began the week stronger after another weekend focused on the Tory Party and the impact being had by the Brexit rollercoaster. As part of this, London saw 700,000 protestors descend on Parliament Square to show their desire to have a referendum on the final Brexit deal, in the biggest demonstration of its kind. At present, Theresa May has ruled out any future referendums – but […]

london-skyline

Brexit: No end in sight

19th 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 lost strength yesterday following the conclusion of the EU summit as it hit new weekly lows against its main currency partners. The primary cause for this was the news, or lack thereof in terms of solutions to ongoing Brexit negotiations as both parties seemed to agree on the possibility of a required extension to the transition period, as Jean Claude Juncker said that ‘extending the […]

us federal reserve

Fed Minutes support stronger USD

18th 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 significant FX news out of the US yesterday centres around the minutes of the Federal Reserve’s September meeting as well as the US Treasuries semi-annual FX report. As part of the minutes, we saw a hawkish-led Fed continue to tout the need for a more restrictive interest rate policy going forward as the economy continues to outperform. As such, a December rate hike looks increasingly […]

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 […]