Posts Tagged ‘Trump’
The Post Trump Era
GBP The pound had an average week as it played second fiddle to the main event across the pond. Sterling only made gains against the Dollar (1.8%) and Yen (0.45%) but lost ground to the Euro (0.4%). There were more Brexit headlines this week though they did not bring anymore news as Michel Barnier reiterated…
Read MoreIs Johnson’s Bluffing and Trump’s Last Chance
GBP Brexit negotiations dragged the pound backdown after hitting a 5-week high against the Euro on Wednesday afternoon. Boris Johnson’s self-imposed deadline of the 15th of October has now been and gone and with no further breakthroughs at the tenth round of talks tensions are starting to ride high on both sides of the channel.…
Read MoreBrexit, EU Summit and US Stimulus Talks
GBP The pound finished the week strongly and managed to match the weekly high against the Dollar at just over 1.30 as sentiment towards the UK EU negotiations turned positive yet again. Against the Euro the Pound spent most of the week bouncing between 1.1015 and 1.0960, the price action fuelled by headlines about the…
Read MoreAll eyes on Trump
GBP The Pound had a roller coaster week as it reacted to every headline and rumour coming out of the Brexit negotiations, with the volatility reaching 1.4% for the week. Though given the volatility the pound still managed to finish the week 0.3% up against the euro and just over 1% against the dollar. The…
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…
Read MoreTrump targets ‘’the largest deal ever made’’ with China
US DOLLAR The Dollar has kicked off the week strong following news over the weekend that the US has agreed to suspend the imposition of new tariffs on China. The Dollar Index rose as high as 96.61, its best level since June 21st, as US yields and equity futures also rallied. Over the weekend President…
Read MoreMPC keep interest rates on hold as probability of a cut jumps to 20%
STERLING The Bank of England kept rates on hold on Thursday via a 9-0 vote but cut growth forecasts which initially weighed on the pound, with the market now pricing in a 20% chance of an interest rate cut this year. Still, Sterling recovered into the weekend and has been trading at a two week…
Read MoreECB hold rates until 2020
EURO The European Central Bank pushed back their rate guidance on Thursday and pledged to remain on hold at least through the first half of 2020. The Euro rallied in response as the Governing Council stopped short of opening the door to a rate cut. EUR/USD made further gains on Friday and closed above $1.13…
Read MoreTrump threatens China with increased tariffs
US DOLLAR The Dollar Index inched higher yesterday morning to 97.6 having declined on Friday’s jobs report as soft wage data overshadowed a strong non-farm payrolls print (+263,000) with the unemployment rate falling to 3.6%, a 50-year low. The Trump administration continued to raise the temperature in trade tensions with China yesterday, with top trade…
Read MoreTrump continues criticism of Fed monetary policy
US DOLLAR After a soft start to last week, the US Dollar finished strongly with the Dollar Index hitting a one-week high on Friday at 96.55. Thursday’s stronger than expected GDP data was the main catalyst after the Greenback had shown little reaction to relatively mundane comments from Fed Chair Jerome Powell. Comments from US…
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