Key Vote In Parliament Today
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 16, 2018
- No Comments
Following last week’s Brexit White Paper, the Customs Bill heads back to the House of Commons today. Several amendments to the bill have been tabled, including four by hard-Brexiteer Jacob Rees-Mogg. Meanwhile, more pro-EU MPs have tabled an amendment aimed at keeping the UK in a customs union with the EU. Prime Minister Theresa May […]
READ MORE
Government To Publish Brexit White Paper
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 12, 2018
- No Comments
Today’s attention is likely to centre on the UK government’s publication of its Brexit White Paper following last week’s Chequers meeting. The White Paper is expected to formalise the plan that ministers agreed last week and provide more detail on how the government intends to deliver on Brexit without crossing Theresa May’s red lines. While […]
READ MORE
Industrial output and manufacturing data disappointed
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 10, 2018
- No Comments
Sterling rose from the day’s lows we reached yesterday afternoon though investors were wary of pushing it higher before data that may raise hopes of an interest rate hike in August and rising political uncertainty after the resignation of two top ministers. Boris Johnson followed Brexit minister David Davis in resigning in opposition to May’s […]
READ MORE
Is the Brexit plan unworkable?
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 6, 2018
- No Comments
UK PM May hosts the Cabinet at Chequers today, where an agreement on the content of the government’s White Paper on a third post-Brexit trading arrangement, dubbed a “facilitated customs arrangement”, will be sought. The White Paper is expected to be published next week. It remains to be seen whether it will have the backing […]
READ MORE
70% chance of UK rate hike in August
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 5, 2018
- No Comments
In the UK, all eyes will be on Bank of England Governor Mark Carney’s speech at 11:00 am in Newcastle. Following the recent run of upbeat UK economic data releases and BoE chief economist Andy Haldane’s surprise shift last month to support an immediate hike in interest rates, market expectations for an August rate hike […]
READ MORE
UK Data Continues To Be Positive
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 4, 2018
- No Comments
The pound edged up this morning ahead of a survey on Britain’s dominant services sector which traders said could lift the currency after decent numbers from the manufacturing and construction sectors earlier this week. The Services Purchasing Managers’ Index was forecast to come in at 54 for June, in line with the previous month. The […]
READ MORE
UK Construction also beats forecasts
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 3, 2018
- No Comments
After yesterday’s UK June manufacturing PMI which was surprisingly on the upside (relative to market expectations), we expected a similar positive surprise in the construction report today, with a forecast of 53.0 from 52.5 in May, the figure released earlier came in at 53.1 beating the forecast of 52.5 Th rest of today’s data and […]
READ MORE
Market Update
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 25, 2018
- No Comments
The Bank of England left policy unchanged last week, but the pound jumped to $1.33 after Chief Economist Andy Haldane voted for an immediate rate rise. Markets attach about 70% probability to a UK policy rate hike in August, compared with 50:50 chance previously. The big surprise last week wasn’t that the government won a […]
READ MORE
Pound gains after positive meeting
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 22, 2018
- No Comments
The British pound gained significantly during the day yesterday, reaching above the 1.32 level comfortably against the Dollar. This was a reaction to the statement after the Bank of England kept interest rates on hold but a vote for a hike by its chief economist heightened expectations that it could tighten policy at its next […]
READ MORE
Sterling continues to fall this morning
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 20, 2018
- No Comments
The GBP/USD is trapped near recent lows close to 1.3150 ahead of today, with little impactful news on released today and continued Brexit confusion taking the wind out of buyers’ sails. There is no key or impactful events on the economic calendar, and the only event for the GBP side is the low-impact CBI Industrial […]
READ MORE
