Market reports
Market News – 30 October 2017
STERLING A mixed week for the pound last week, having its best day on Wednesday after third-quarter GDP was revised higher to 0.4% after initial readings of 0.3 percent. Other macro releases were less supportive however, with CBI retail sales falling at their fastest rate since the recession. Dovish remarks from Bank of England Deputy…
Read MoreMarket News – 23 October 2017
STERLING Sterling was mostly lower versus its G10 peers last week, suffering from several set-backs, including significantly weaker than expected retail sales (falling 0.8%) along with a mixed jobs and earnings update. CPI was in line with consensus, coming in at 3 percent year on year, hitting a 5 year high in the process. On…
Read MoreMarket News – 16 October 2017
STERLING Sterling was one of the strongest G10 currencies last week. It got off to a strong start as Brexit related uncertainties appeared to have eased somewhat over the previous weekend. Gains continued Tuesday on the release of stronger-than-expected UK industrial and manufacturing production data. We then saw some notable volatility on Thursday with the…
Read MoreMarket News – 9 October 2017
STERLING The Pound was the weakest of the G10 currencies last week as the odds were slashed that UK Prime Minister Theresa May would leave Downing Street before the end of the year. The Daily Telegraph reported on Thursday that May could be gone by Christmas as up to 30 MPs plot to oust her…
Read MoreMarket News – 2 October 2017
STERLING The Pound rose against most of its G10 peers last week, aided by EU Barnier’s comments, stating that they are not there yet, but have seen some clarity on certain points following the fourth round of Brexit talks. Elsewhere, Bank of England Governor Carney’s rhetoric in the 20th Anniversary of Independence was largely rebuffed…
Read MoreMarket News – 25 September 2017
STERLING The pound fell last week, retracing some of the prior week’s bullish run, as Bank of England Governor Mark Carney walked back recent rate hike comments. Brexit, which prompted Mark Carney to cut U.K. interest rates for the first time in seven years in 2016, is now pushing in the other direction. In a…
Read MoreMarket News – 18 September 2017
STERLING Sterling was the strongest G10 currency last week following an unexpectedly hawkish statement from the Bank of England. The majority of the Monetary Policy Committee are of the belief that if the economy continues to follow a path consistent with the prospect of an erosion of slack, along with a gradual rise in underlying…
Read MoreMarket News – 11 September 2017
STERLING The pound saw a modest gain on balance last week. Stronger-than-expected manufacturing production figures released on Friday provided a boost although data impulses from earlier in the week were to the downside after construction and service sector PMI fell short of expectations. Brexit negotiations also appear to have stuttered with EU Brexit Minister Barnier…
Read MoreMarket News – 04 September 2017
STERLING The Pound rose against most of its G10 peers last week, despite another round of Brexit negotiations ending with little progress. However, UK PM Theresa May’s trip to Japan showed that there was a road ahead for British companies, while Sterling will have also benefited from a modest uptick in GFK consumer confidence and…
Read MoreMarket News – 29 August 2017
STERLING The pound was little changed for the most part last week. Losses seen on Wednesday were reversed on Thursday and Friday after UK GDP was confirmed at the flash readings of +0.3% Q/Q and +1.7% Y/Y. Brexit impulses were limited although the UK government did state on Monday that they were confident they will…
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