World Economy slumps over Coronavirus
GBP & EUR GBP fell on average 3% against all major currency pairs over the last one week, drawing a fresh 5-month low on GBP/EUR and GBP/USD. Last week we saw both the UK & EU play hard ball with their mandate of an ideal trade deal, which saw GBP come off towards the back…
Read MoreCoronavirus Dominates the Market
GBP A relatively data-light week ahead in the FX market for both GBP and EUR, with UK consumer confidence being the only data drop on Friday morning. The G20 Summit took place over the weekend, in which UK officials criticised the EU over its indecision regarding the mandate presented for post-UK trade talks. The relationship…
Read MoreEuro slumps and Flash PMI’s
GBP GBP/EUR opened this morning at the highest point since the UK first decided to leave the EU back in 2016. The Pound picked up towards the back end of last week following the Prime Minister’s cabinet reshuffle and more importantly the resignation and replacement of Sajid Javid. There could be scope for further Sterling…
Read MoreHard Brexit Fears as Clash over Fishing Rights
GBP Whilst the UK attempts to recover from the disruptions caused by Storm Ciara over the weekend, GBP hit a new 2 month low against the US Dollar amid renewed concerns over the weekend suggesting that trade negotiations could collapse “within months” due to EU demands for fishing rights and unaltered access to UK’s fishing…
Read MoreUK/EU Trade Deal Hangs in the Balance
GBP The UK has formally left the EU and the Pound has started the week on a decline as Prime Minister, Boris Johnson sets out a hard-line stance for European Union talks, once again sparking fears of breaking away at the end of the 11-month transition period without agreeing a trade deal. Johnson is set…
Read MoreSterling wary as fears of conflict rise in the Middle East
GBP Sterling remains relatively wary as fears of conflict rise in the Middle East. Boris Johnson in a joint statement with Germany’s Angela Merkel & France’s Emmanuel Macron, urged restraint and called on Iran to refrain from further violent action and proliferation. Members of parliament re-group this week in an active bid to push for…
Read MoreSterling Strengthens on Poll Predictions
Happy Tuesday! Did you know…? Space smells like seared steak. Bees sometimes sting other bees. Showers really do spark creativity. The week ahead There are plenty of reasons for us to be doubtful of political polling ahead of the UK December 12th election. The Brexit issue has been exhaustive but are we sailing closer to…
Read MoreUK Growth to Offer Exchange Rate Boost
Happy Monday! There are more possible iterations of a game of chess than there are atoms in the known universe. The average person walks the equivalent of three times around the world in a lifetime. Coca-Cola would be green if colouring wasn’t added to it. The week ahead UK Prime Minister Boris Johnson has seen…
Read MoreECB cut rates, Saudi oil attack and Sterling appreciation
US DOLLAR The Dollar Index is little changed this morning at around 98.2 having topped out at a one-week high on Thursday at 99.1. The Dollar was pulled lower by weaker than expected US retail sales data released on Friday, plus the post-ECB rebound we saw in the Euro. Investors are now looking ahead to…
Read MoreBoris to meet with European counterparts this week
STERLING The pound hit its lowest level against the US Dollar since January 2017 last Monday at 1.2015 but recovered thereafter on stronger than expected UK data. Average earnings, CPI and retail sales all surprised to the upside and boosted Sterling although the threat of a no-deal Brexit continues to limit any upside. Of note…
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