Posts Tagged ‘Market news’
Recessions, Inflation & Rate Hikes
GBP Strong employment data saw Sterling take a jump at the back end of last week, bolstered by record wage growth and elevated rate hike bets. We’ve now seen 13 consecutive hikes, with rates being the highest since April 2008. Another hike seems more than likely on the BoE’s next decision on August 3rd. BoE…
Read MoreSterling was fairly resilient last week in response to poor data releases
STERLING There were some worrying signs for the health of the UK economy last week, where service PMI fell well short of expectations. The Chief Economist at Markit warned that the UK economy had iced up in March, suffering the weakest increase in business activity since the Brexit vote. However, he did note that disruptions…
Read MoreTheresa May is stepping up plans to tackle the Irish border question in Brexit talks
STERLING Sterling struggled to sustain any upward momentum last week despite some positive Brexit headlines. Over the weekend, the Financial Times said Prime Minister Theresa May was planning a customs partnership to unlock the Northern Ireland dilemma although we are yet to see anything concrete. PMI surveys could steal the spotlight this week, as investors…
Read MoreMarket News – Trump Talks Tariffs
STERLING Sterling strengthened last week amid a flurry of Brexit talk although concrete progress was difficult to find. Reports towards the end of the week said UK officials do not see a Brexit deal until next year. EU officials meanwhile signalled that they are not willing to negotiate on issues such as trade until progress…
Read MoreMarket News – Brexit uncertainty
STERLING Sterling was mixed last week although the bias was tilted to the upside. The currency jumped higher on Tuesday amid reports that the European Parliament is to call for Britain to have ‘privileged’ single market access after Brexit. Losses followed on Wednesday however after soft employment data and the leak of a government document…
Read MoreMarket News – UK inflation
STERLING Sterling was mixed last week. UK inflation data prompted a rally on Tuesday although gains soon dissipated as risk sentiment soured through the second half of the US session. Further gains were seen on Thursday amid reports that the EU had softened their Brexit transition stance. Losses followed on Friday meanwhile after UK retail…
Read MoreMarket News – 12 February 2018
STERLING Sterling was one of the weakest of the G10 currencies last week. The currency got off to a slow start after UK service PMI wrapped a trifecta of weaker-than-expected PMI releases. There was also chatter in the weekend press that UK Prime Minister Theresa May will face a possible coup. Focus then turned to…
Read MoreMarket News – 5 February 2018
STERLING Sterling was a touch softer on balance last week. Losses were seen on Friday after a notably soft reading for UK construction PMI which fell to a 4-month low at 50.2. The currency also dropped after EU officials said the EU Commission have rejected the City of London’s proposal to strike a post-Brexit free…
Read MoreMarket News – 29 January 2018
STERLING Sterling saw a modest strengthening on balance last week. The currency got off to a strong start on Monday after French President Emmanuel Macron suggested the UK could get a special trade deal with the EU post-Brexit. Further upside was seen on Wednesday after UK labour market data came in better-than-expected with a sizeable…
Read MoreMarket News – 22 January 2018
STERLING Sterling was one of the strongest G10 currencies last week. The bulk of gains came on Wednesday despite an absence of any macro releases although we heard from Bank of England MPC member Saunders who said if the economy turns out broadly in line with his outlook, it is likely that interest rates will…
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