Market Update


Market Update

Sterling slipped against a rampaging dollar this morning, lingering near 2-1/2-year lows. Sterling had reached as high as $1.1609 a day earlier as media reports offered new details about how incoming Prime Minister Liz Truss is planning to tackle Britain’s growing energy crisis, before losing steam. The dollar hit a 24-year high versus the Japanese […]

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Market Update

Sterling fell this morning against a strengthening U.S. dollar but jumped against the euro in July thinned trade with markets watching for any sign from the Bank of England on its monetary policy path. With some liquidity expected to return to the foreign exchange market later in the day after a U.S. long bank holiday, […]

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Market Update

The pound edged higher this morning, breaking a three-week losing streak versus the broadly struggling U.S. dollar as hawkish comments from policymakers supported the currency. While the Bank of England raised interest rates by just a quarter point last week – lagging more robust action from the U.S. Federal Reserve and other central banks, markets […]

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Market Update

The pound held near lows last seen in 2020 against a strong dollar, as risk assets like the British currency remained under pressure on concerns over the impact of the lockdowns in China on the global economy. Sterling edged lower, after falling on Monday below $1.27 against the dollar for the first time since September […]

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Market Update

The British pound tumbled this morning, following data that showed slumping retail sales and record-low confidence as high inflation has cut into consumer spending. Retail sales volumes slid 1.4% from February, the Office for National Statistics said Friday. Economists polled predicted a drop of 0.2%. Sales were revised to a 0.5% drop in February, higher […]

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Market Update

To start the morning off Q4 GDP YoY for the UK came in at 6.6% vs expectations of 6.5% boosting the pound against both the euro and dollar. Newfound optimism on the Russia-Ukraine ceasefire and peace talks quickly came to a halt after Russia indicated no material progress had been made. U.S equities shaved off […]

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Market Update

Standstill. That’s one way to explain the currency market over the past day. UK PMI data came out positive except that of manufacturing PMI. Today retail sales came in at -0.3% vs forecasts at 0.6%, as we know retail sales speaks volumes about the health of an economy, so a contraction only aligns with the […]

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Market Update

A quick recap of last week. We saw the Fed raise rates to 0.5% and the Bank of England follow suit raising rates to 0.75% both events widely anticipated by markets and priced in. The tonality for both central banks however were far from similar, the fed Chair Jerome Powell was extremely hawkish on the […]

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Market Update

Yesterday evening saw the first of 2 Central Bank policy meetings with The Fed Reserve moving forward with a rate rise of 25 bps, the first rate hike taken by The Fed since 2018. With inflation currently sitting near 8%, a 40 year high, and inflationary pressures effecting prices and potential supply of commodities such […]

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Market Update

Sterling slipped to a 16-month low today against the safe-haven U.S. dollar and is heading for its third consecutive weekly decline as stronger-than-expected UK economic growth did little to support the pound. The Office for National Statistics said Britain’s economy grew 0.8% in January, the strongest monthly expansion since June and more than forecast by […]

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