Market reports

Happy new year and best wishes for 2017 from the team at Currency Global! What a year 2016 was – Brexit and Sterling’s dramatic slide, Trumps election victory, oil prices plunging and the Dollar’s rally among others: we were never short of attention-grabbing headlines. Yet there are still reasons to hope that 2017, like 2016,…

As expected, the Federal Reserve decided to raise its benchmark interest rate last Wednesday and upped its expectation for the number of rate hikes in 2017. The move, which markets saw a 100% probability of, will increase the target of the federal funds rate, which banks use to lend to each other overnight — by 25…

There’s a growing number of central banks questioning the point of printing paper money. The Danish central bank are now looking into producing a virtual currency instead, which they predict will make crime harder and oversight easier. The Danes aren’t alone. Britain and Sweden are blazing a trail in Europe. Singapore and Canada have already…

Italian Prime Minister Matteo Renzi has resigned after suffering a crushing defeat in a referendum over his plan to reform the constitution. The Euro has fallen to its lowest level against the Dollar since March 2015, with calls for parity by a number of global analysts. Renewed fears of political instability and turmoil for Italy’s…

The Bank of England added a new, higher bar to its third round of public stress tests. The central bank will announce the outcome of its annual health check of the six biggest banks and one building society, Nationwide – on Wednesday. GBP Consumers and businesses increased their spending in the third quarter as the…

Phillip Hammond will deliver the Autumn Statement on Wednesday, in which he will reveal the state of the economy and outline the government’s spending plans. He will reportedly announce broad direction, but leave more policy announcements to his colleagues, unlike his predecessor George Osborne. Wednesday also brings us durable goods orders from the US for…

President elect Donald Trump crushed rival Hillary Clinton in dominating style last week. Trump, who will take office on January 20th 2017, then managed to calm markets with a conciliatory speech once he had acquired the 270 electoral votes required for victory, with the expected Dollar sell off yet to start. Both Theresa May and…

Overview All eyes will be on the US Presidential election this week. No matter which way the US public decide to vote, volatility is to be expected across all asset classes. A republican victory could be a catalyst for a huge dollar sell off, with many market participants fearful of the damage Donald Trump could…

A relatively quiet week ahead with only a sprinkling of top tier data. Central bankers Mark Carney and Mario Draghi will be speaking on Tuesday, with any notable comments regarding their respective monetary policies likely to create further volatility. Preliminary UK GDP figures (QoQ and YoY Q3) Thursday are forecast to show a contraction in…

GBP Sterling remains a currency that now trades almost exclusively on headlines concerning the country’s upcoming Brexit from the EU. All eyes are upon the governments right to trigger Article 50 without Parliaments consent. “The current situation is anything but stable and another slide would feed concern far more than it would help the UK’s…