GBP The Pound traded sideways yesterday before dropping sharply during the late afternoon after Bloomberg reported a breakdown in Brexit negotiations and a lack of progress as time runs out. Fears that the EU will refuse to compromise on a divorce payment saw Sterling drop as much as 0.3% against...
VIEW FULL ARTICLEPosted in Daily Market News on Oct 17 2017 by Rob Affleck
GBP Sterling gained support throughout Friday from increasing optimism surrounding Brexit negotiation outcomes. Reports emerged that individual EU countries were making their own preparations for trade talks with the UK. GBPEUR was trading around 1.1210 and then tested the 1.1235 resistance area in late trading.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 16 2017 by Rob Affleck
GBP The Credit Conditions Survey indicated that lenders anticipate the biggest decline in credit available to consumers since 2008, reinforcing expectations of tightening standards which could reduce pressure for higher interest rates.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 13 2017 by Rob Affleck
GBP Concerns are increasing over the Pound’s vulnerability if there is no agreement to expand Brexit negotiations at the key summit next week. The financial sector has increased pressure on Brexit talks as the Treasury reports that international banks would decide in early 2018 (first quarter) whether they are going...
VIEW FULL ARTICLEPosted in Daily Market News on Oct 12 2017 by Rob Affleck
GBP UK industrial production rose in line with consensus forecasts at 0.2% for August and manufacturing data edged above expectations with a 0.4% gain. The year on year manufacturing also edged up to 2.8% with July’s figure being revised up to 2.7% after the ONS made substantial revisions to previous data.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 11 2017 by Rob Affleck
GBP Sterling rose sharply yesterday morning in a technical correction reversing oversold conditions and partially assisted by reduced speculation of an imminent change to Theresa May’s premiership.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 10 2017 by Rob Affleck
GBP Political factors continued to undermine Sterling confidence and the Pound remained under pressure throughout Friday. Sterling briefly dropped to one-month lows around 1.3030 against the Dollar before recovering slightly while GBPEUR was trading around 1.1123. This was the Pound’s worst weekly performance of the year.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 9 2017 by Rob Affleck
GBP Sterling came under serious pressure on Thursday with a significant dip in sentiment. Speculation increased with regards to leadership when Prime Minister Theresa May was seen to be in an even weaker position, which only added to fears that it would be even more difficult to make headway in...
VIEW FULL ARTICLEPosted in Daily Market News on Oct 6 2017 by Rob Affleck
GBP The UK services-sector Purchasing Managers index (PMI) index strengthened to 53.6 for September from 53.2 the previous month and was above consensus expectations of no change. Overall business sentiment was still reported to be fragile, but the data did help ease concerns surrounding growth given the influence of services.
VIEW FULL ARTICLEPosted in Daily Market News on Oct 5 2017 by Rob Affleck
GBP The UK construction Purchasing Managers' Index (PMI) index declined to 48.1 for September from 51.1 the previous month, below consensus expectations of an unchanged reading and the weakest print since July 2016. Although the residential sector continued to expand, there was a significant contraction in the civil construction sector...
VIEW FULL ARTICLEPosted in Daily Market News on Oct 4 2017 by Rob Affleck
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