Market Update


Market Update

Britain’s messy election outcome and a weakening of the housing market have caused a sharp of loss of confidence among consumers, leaving the country dependent on exports to avoid a recession, according to a survey published today. An index of consumer confidence produced by polling firm YouGov fell back to just above levels last seen […]

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What will affect Sterling this week?

Last week was pretty underwhelming as the Prime Minister is still yet to form her Government, and it seems Brexit negotiations have started pretty smoothly (Not sure how long it will last though!). Only a week ago, the Conservative Party said that if Theresa May went for a “Soft Brexit” then they will “Oust” her […]

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Will We See A UK Rate Hike Soon?

Sterling gained by almost half a percent against the dollar today, helped by a shift in expectations for interest rates that has some in the market backing the Bank of England to raise borrowing costs within months. Analysts on Thursday flipped to calling for a rise in rates within six months, after the defection over […]

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Tory/DUP deal by next Thursday

Sterling traded slightly below $1.27 today, investors treading water after a split at the Bank of England over monetary policy added further uncertainty to the outlook for Britain’s economy as it leaves the European Union. Barely a week after three members of the central bank’s eight-strong rate-setting committee voted to hike record low interest rates, […]

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Sterling weakness continues

Sterling dipped below $1.26 for the first time in more than two months today, deepening this week’s losses on signs that Prime Minister Theresa May is still struggling to find the support she needs for her government in parliament. Hit by a retreat in the chances of a rise in interest rates after comments by […]

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Carney – Not the time for a rate rise

Sterling fell by almost a full cent against the dollar today after Bank of England governor Mark Carney said now was not the time to raise interest rates, dashing some investors’ hopes that the central bank had shifted in that direction. Now is not the time to raise interest rates, he said today, warning of […]

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BOE Meeting delivers shock

The possibility of the Bank of England raising interest rates to prop up the pound helped steady the currency on Friday at more than 1.5 percent above its low point for the week. Sterling surged to its highest in a week against the euro yesterday after it emerged that three members of the Bank of […]

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Fed Raise Rates, Sterling Lower

Sterling dipped around 0.2 percent against the dollar in morning trade in London this morning, suffering along with other major currencies from a boost to the greenback from Wednesday’s U.S. Federal Reserve policy decision and commentary. The pound was barely higher against the euro, however, and dealers said the currency was still subject to nerves […]

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UK Earnings drop at fastest pace since 2014

British workers’ earnings after inflation contracted at the fastest pace since 2014 in the three months to April, underscoring the growing Brexit squeeze facing many households, official data showed this morning. The figures showed the challenge facing Prime Minister Theresa May and her new government, with signs that households are feeling the strain of rising […]

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Sterling will stay under pressure

Sterling gave back early gains against the dollar to trade flat today, back under pressure after British general elections that yielded no clear majority for any party and threatened to undermine Brexit talks later this month. Prime Minister Theresa May reappointed most of her ministers on Sunday but brought a Brexit campaigner and party rival […]

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