Market Update


Market Update

Sterling started the day lower after British Prime Minister Theresa May’s offer to quit failed to convince hard-line opponents to back her Brexit withdrawal agreement, fuelling more uncertainty for the pound in the short term. The British parliament’s bid to agree an alternative plan fell short, leaving the Brexit process as deadlocked as ever. May […]

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Market Update

Global risk sentiment improved overnight following Italian President Mattarella’s decision to give the populist parties more time to form a more amiable cabinet line-up. Surveys of UK business and consumer confidence for May provided further evidence that domestic economic activity will have recovered in the second quarter, after Q1’s weather-impacted slump. The GfK consumer sentiment […]

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UK Inflation drops unexpectedly

UK inflation dropped to a one year low, according to figures which now raise doubts about a rate rise in May and further rises going forward. There is still a 96% chance of a UK rate rise in May and we believe this is already priced into the markets. Official data showed annual consumer price […]

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Quiet day for Sterling

Sterling dropped off this morning after making gains yesterday. With investors cautious about risks surrounding Brexit negotiations for the year ahead despite progress in the talks last week. A survey on Monday showed British factories matched a three-decade high for orders this month prodded the pound higher against the dollar and euro. However, Sterling was […]

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Pound hits a 2 and a half week high

The pound was up this morning hitting a 2 and a half week high against most currencies, due to the Brexit news over the weekend being interpreted as positive, Germany election shambles and the US investigations. Britain will submit proposals on how to settle its divorce bill with the European Union before an EU summit […]

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Britain’s trade deficit hits a all time high

British factories had their strongest two months of 2017 in July and August, suggesting the Bank of England remains on track to raise interest rates soon, but the deficit in trade in goods hit an all-time high. The data showed Britain’s economy remained in a low-growth gear in the third quarter after suffering its slowest […]

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Sterling Outlook

Market speculators are likely to keep their sterling positions steady this month, according to a plurality of respondents in a poll which predicted the currency will trade around where it is now against the euro and dollar in a year. Sterling was hammered after Britain’s decision to leave the European Union and is around 13 […]

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Britain waits on PM’s speech

Sterling traded within a tight range against the dollar today while investors waited for a speech by British Prime Minister Theresa May in which she is expected to try to rescue stalled Brexit talks. Investors will watch to see if May can offer enough to European Union negotiators to persuade them to move talks forward, […]

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Biggest daily rise for GBP

Sterling consolidated gains today, a day after posting its biggest daily rise in nearly two months, as investors trimmed some bearish bets before a parliamentary debate over the government’s European Union repeal bill. Sterling remains very headline-sensitive to politics but the protracted weakness in the currency may start to play a bigger role in central […]

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Pound up after worst month in the last 10

Britain’s factories grew a lot more strongly than expected in August as work flowed in from home and abroad, a survey showed this morning, suggesting the economy might be picking up speed after a slow first half of 2017. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) jumped to 56.9 from 55.3 in July, higher […]

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