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Pound drops further against Euro & Dollar

  • Posted by Shyam Gokani in Uncategorised
  • December 22, 2016
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Sterling fell to a two-week low against the euro today after a survey of British consumers showing a gloomy view of the economy’s prospects next year kept it on the defensive against the single currency. It was sterling’s fourth consecutive daily fall against the euro, its longest losing streak since August, as it got caught […]

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May to make statement in parliament this afternoon – Brexit

  • Posted by Shyam Gokani in Uncategorised
  • December 19, 2016
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Britain’s pound steadied from two straight weeks of losses against the U.S. dollar this morning after further hints the government is looking at ways to smooth its exit process with the European Union. Trade minister Liam Fox said on Sunday Britain may need a transitional agreement to bridge the gap for businesses during negotiations with […]

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EU hold Brexit talks

  • Posted by Shyam Gokani in Uncategorised
  • December 16, 2016
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European Union leaders agreed their plan for Brexit negotiations, pledging to move swiftly and stick together to ensure Britain does not cherry pick a sweet deal that might inspire others to do the same. Prime Minister Theresa May left before the other 27 leaders met briefly to formalise their plan for how to run Brexit […]

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Dollar gains after Fed rate hike

  • Posted by Shyam Gokani in Uncategorised
  • December 15, 2016
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Sterling fell almost half a percent in morning trade in Europe this morning, suffering along with a raft of other currencies against the dollar after the U.S. Federal Reserve raised its forecasts for interest rates next year. It will be interesting to see what type of outlook the BoE offers in light of more solid […]

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All eyes on Fed meeting this evening

  • Posted by Shyam Gokani in Uncategorised
  • December 14, 2016
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Sterling steadied today after data showed the number of people in work in Britain falling but wages growing, as investors focused on a Federal Reserve meeting later in the day that is set to produce the first interest rate rise in a year. The Office for National Statistics numbers suggested a slowing in the labour […]

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Big week ahead for Sterling

  • Posted by Shyam Gokani in Uncategorised
  • December 12, 2016
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Sterling edged up this morning, recovering some ground lost last week as investors braced for what is shaping up to be a busy week with the latest top-tier UK economic data releases and Bank of England policy meeting. Sterling chalked up its first weekly fall against the dollar in four last week, falling 1.1 percent […]

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UK industrial output poor

  • Posted by Shyam Gokani in Uncategorised
  • December 7, 2016
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Sterling posted its biggest slide in two months on Wednesday after poor British industrial output data added to the sense that a month-long recovery in the currency may have run its course. The weak performance by manufacturers may raise doubts about how much of a boost factories are getting from the big fall in sterling […]

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Thursday is key for the Euro

The euro held steady near a 3-week high today while bets on market volatility stayed close to their highest since June’s Brexit vote ahead of this week’s European Central Bank meeting due to give new guidance on its quantitative easing programme. Other major currency pairs were all trading in a tight range after a rollercoaster […]

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Euro drops due to Italian Referendum result

  • Posted by Shyam Gokani in Uncategorised
  • December 5, 2016
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The euro rebounded from 21-month lows today, clawing back almost all the ground it had lost overnight after Italian Prime Minister Matteo Renzi conceded defeat in a referendum on plans to reform the country’s constitution and said he would resign. The single currency tumbled as much as 1.4 percent in Asian trade, its weakest since […]

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Construction PMI stronger than expectations

  • Posted by Shyam Gokani in Uncategorised
  • December 2, 2016
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Growth in Britain’s construction industry unexpectedly touched an eight-month high in November, but its costs rocketed at the fastest pace since 2011, fuelled by sterling’s slump after the June vote to quit the European Union, a survey showed earlier this morning. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) edged up to 52.8 from 52.6 […]

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