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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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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Brexit negotiations resume today
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 22, 2018
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Today’s UK data releases are the May Confederation of British Industry (CBI) industrial survey which will provide an update on manufacturing. That sector grew much more quickly than the economy as a whole last year, but activity seems to have slowed in early 2018. The deceleration may at least in part have been due to […]
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Sterling worst performing
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 21, 2018
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The Pound and Euro are in a contest to see who the worst performer is today, and right now the pound is edging out the euro by just a tad bit. It’s been all about politics that is weighing on the two currencies today, not helped by technical selling against the greenback too. The euro […]
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Sterling stays strong
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 18, 2018
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Sterling enjoyed a brief rally yesterday after reports that Britain would tell Brussels it was prepared to stay in the European Union’s customs union beyond a Brexit transitional arrangement. Cabinet ministers are deadlocked over a future deal with the bloc. The Telegraph newspaper said Britain would tell Brussels it was prepared to stay in the […]
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