Brexit talks break down in Parliament
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 7, 2018
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News late last night of a major row between PM Theresa May and Brexit minister David Davis over the government’s final position on a backstop for Northern Ireland could weigh on Sterling in the days to come if no agreed position is found. Brexit minister Davis is seeking a firm end date for the customs union […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 6, 2018
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Today has a light data calendar with nothing of note in the UK. We have no further UK releases for the rest of this week. However, it should be noted that there are several important releases next week, ahead of the Bank of England policy announcement on 21st June. These include industrial production and construction […]
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UK Services Sector grows more than expectations
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 5, 2018
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Companies in Britain’s dominant services sector grew more quickly than expected in May after a winter slump in early 2018, but the approach of Brexit held back many companies, a survey showed this morning. The IHS Markit/CIPS services purchasing managers’ index (PMI) rose to a three-month high of 54.0 in May, better than a median […]
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UK Construction picks up in May
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 4, 2018
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Markets appear relieved that the Italian political situation has stabilised (at least for now), and do not seem overly concerned with escalating trade disputes. Italy’s new government will face a confidence vote in the two Houses today, which is expected to be an easy win. Following Friday’s stronger-than-expected manufacturing PMI, further insight into domestic activity […]
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Euro strengthens after Italy come to an agreement
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- June 1, 2018
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It has been confirmed that Giuseppe Conte will be the next Italian Prime Minister after the right-wing League party and the anti-establishment 5-Star Movement reached agreement on a Cabinet. A little-known economics professor Giovanni Tria will become Economics Minister. Meanwhile, the Spanish Government seems set to lose a confidence vote today, which will likely result […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 31, 2018
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Global risk sentiment improved overnight following Italian President Mattarella’s decision to give the populist parties more time to form a more amiable cabinet line-up. Surveys of UK business and consumer confidence for May provided further evidence that domestic economic activity will have recovered in the second quarter, after Q1’s weather-impacted slump. The GfK consumer sentiment […]
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Sterling hits a 6 month low against the Dollar
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 30, 2018
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The pound fell to a six-month low against a rallying dollar on Tuesday, while it held its own against a euro dragged down by concerns about a deepening political crisis in Italy. Sterling has slumped against the dollar since mid-April as expectations of a Bank of England interest rate rise recede and the economy shows […]
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Euro weakens due to Italy concerns
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 29, 2018
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As the UK and the US return from their bank holiday, liquidity and European political worries dominate the agenda today. The USD remains a safe haven as Italian bond spreads continue to widen. The market will also be listening more closely to the many ECB speakers today to gauge their reaction and thoughts to escalating […]
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UK GDP rises 0.1%
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 25, 2018
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Q1 Gross Domestic Product in the UK increased 0.1% in the second estimate, the Office for National Statistics announced this morning. This is unchanged from 0.1% quarter-to-quarter rise reported in the preliminary estimate. Comparing this to a year ago, the UK GDP increased 1.2% y/y, unchanged from the estimate. Within the structure on Q1 GDP, household […]
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UK Inflation data hurts the pound
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 24, 2018
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Sterling slid yesterday to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England raising interest rates this year. The pound had been one of the best-performing currencies in 2018 but it has given up all its gains for the year following a broad rally in the dollar and […]
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