GBPOverall, Sterling was hampered by a lack of positive rhetoric yesterday, with no evidence that Prime Minister May had made headway in securing parliamentary support. Attorney General Cox denied that he had given up attempts to force a specific time frame to end the backstop, but uncertainty prevailed.VIEW FULL ARTICLE
Posted in Daily Market News on Mar 5 2019 by Ben, K.
GBPThe UK PMI manufacturing index declined to 52.0 for February from a revised 52.6 previously and in line with consensus forecasts. Brexit uncertainty and preparations continued to have a big impact with further very strong inventory building of raw materials.VIEW FULL ARTICLE
Posted in Daily Market News on Mar 4 2019 by Ben, K.
GBPSterling maintained a firm tone yesterday in line with the strength seen at the beginning of the week. However, the Pound was unable to secure further gains as pressure for profit-taking increased with further selling interest above the 1.3300 level against the Dollar.VIEW FULL ARTICLE
Posted in Daily Market News on Mar 1 2019 by Ben, K.
GBPWith the markets perceiving a more optimistic Brexit stance, Sterling continued to gain across the board. The gains were underpinned by further expectations that a ‘no-deal’ outcome would be ruled out within parliament and the trade-weighted index strengthened to a ten-month high.VIEW FULL ARTICLE
Posted in Daily Market News on Feb 28 2019 by Rob
GBPBank of England (BoE) Governor Mark Carney stated that a ‘no-deal’ Brexit posed the biggest risk to financial stability, although his stance on the medium-term outlook was little more upbeat. Theresa May was reported to have made good progress with EU President Juncker on amendments to the political declaration.VIEW FULL ARTICLE
Posted in Daily Market News on Feb 26 2019 by Rob
GBPThe February CBI retail sales index held at 0, just below forecasts but there were expectations of a March recovery. Sterling dipped before lunchtime and another official UK source reported that a Brexit deal conclusion was unlikely this week.VIEW FULL ARTICLE
Posted in Daily Market News on Feb 25 2019 by Rob
GBPThe Confederation of British Industry reported that UK manufacturing activity had weakened in the three months to February, although forward orders rose to 6 from -1 last month and exports also strengthened slightly. The Pound dipped after three Conservative MPs resigned to join the Independent group, reducing the government’s notional...VIEW FULL ARTICLE
Posted in Daily Market News on Feb 21 2019 by Rob
GBPUK employment figures impressed with a record high of 32.6m in the three months to December. Jobless claims were higher than expected but headline unemployment remained at 4.0%, the lowest since 1975. Headline annual average earnings growth was unchanged at 3.4%, fractionally below expectations of 3.5%, with the core reading...VIEW FULL ARTICLE
Posted in Daily Market News on Feb 20 2019