News and Analysis

Market News and Analysis

25/08/2020

Sterling stalls on a quiet day

GBP Sterling moved lower against both the euro and dollar yesterday on a day absent of any major market moving data. Monday’s low move appears to be an extension of Friday’s decline which saw the pound fall 1% against both the euro and dollar. This move has been caused by dampened investor appetite for the […]

24/08/2020

Sterling falls as Brexit talks stall

GBP Sterling moved lower on Friday following the news that UK-EU Brexit trade talks have failed to yield any significant progress. The news resulted in sterling depreciating by more than 1% as EU chief negotiator Michel Barnier signalled that at this stage a trade deal looks ‘very unlikely’. Barnier added that he was ‘disappointed’ and […]

21/08/2020

No respite for the dollar

GBP Sterling fell to a one week low on Thursday morning but bounced back in the afternoon as the Fed remained less dovish than expected. The Fed minutes were vague, saying a number of committee members thought a revised statement on policy strategy would be helpful at some point, without providing details or timing. They […]

20/08/2020

Sterling rally short-lived

GBP Sterling finished the day lower against both the euro and dollar yesterday despite inflation data surpassing market expectations to show a positive return to activity for the UK economy. Data released by the Office for National Statistics (ONS) showed Year-on-Year UK Core Price Inflation rose from 0.6% in June to read 1% in July. […]

17/08/2020

Mixed US Retail Sales data release moves the dollar lower

USD The dollar moved lower on Friday following a mixed US Retail Sales data release which caused investors to sell the dollar. Concerns remain over the speed of the US economic recovery and the country’s inability to manage the coronavirus pandemic as cases surge past the five million mark. The latest figures released by the […]

14/08/2020

Increased hopes of Brexit trade deal boost Sterling

GBP Late week trading saw Sterling strengthen against a basket of currencies, particularly the US Dollar. Positive movement was driven by a struggling dollar and increased hopes of a post-Brexit trade deal before a transition period ends this year. Irish Prime Minister Micheál Martin said yesterday, he believes there is a “landing zone” to reach […]

13/08/2020

UK economic output slumps to record drop

GBP UK Economic output slumped to a record drop yesterday, shrinking 20.4% between April and June. This period was when lockdown was at its strictest and is undoubtedly the contributing force here. Whilst this data is not surprising, it is still telling that this is the largest contraction of any developed economy thus far. However […]

12/08/2020

UK falls into recession

GBP Sterling was a touch lower against both the euro and dollar this morning as data showed the UK falling into a recession for the first time in eleven years. Official figures released by the Office for National Statistics (ONS) showed the UK economy contracting for the second consecutive quarter, suffering worse than any other […]

11/08/2020

Sterling gains against a strong US Dollar

GBP Sterling gained against a strong US Dollar on Monday after failing to hold onto last weeks five month’s high with further swings expected in the coming weeks. With lockdown measures lifted over the past two months, better than expected date will provide some short term volatility for the pound with GDP and unemployment data […]

10/08/2020

US jobs data boosts dollar

GBP Sterling lost momentum on Friday and was on track for its biggest daily fall since June against the US Dollar as global market sentiment turned sour after the latest stand off between the US and China. As the dollar strengthened due to positive jobs data and save-haven follow, this impacted cable to fall lower. […]

07/08/2020

Sterling strengthens as BoE was less dovish than expected

GBP The pound strengthened yesterday as the Bank of England was less dovish than expected, despite acknowledging that the economy would take longer to recover than first expected. The central bank revised its belief that the economy would recover by second half of 2021, now stating that the economy would not recover to its size […]

06/08/2020

Sterling edges towards 2020 highs

GBP Sterling edged towards 2020 highs against a broadly weaker dollar this morning benefitting from the Bank of England’s decision to keep interest rates on hold. Members of the BoE committee voted unanimously to keep interest rates unchanged at 0.1% and failed to make any alterations to it’s bond-buying programme. The bank also improved their […]

05/08/2020

Sterling consolidates amid Bank of England uncertainty

GBP Sterling consolidated its position at the start of this week, clawing back some of its early losses against the US Dollar. Lingering fears of a second wave of virus infections and a Bank of England policy meeting tomorrow seem to be capping the pound at current levels. An early week fall for Sterling, although […]

04/08/2020

The dollar had a mixed day yesterday

USD The dollar had a mixed day yesterday, as positive manufacturing ISM data was balanced out by poor employment data and uncertainty around further fiscal stimulus. The headline figure on the ISM Manufacturing Index climbed to a fifteen month high of 54.2, beating expectations and helping sentiment along the way. Initially this also reinforced the […]

03/08/2020

Biggest dollar decline in a decade

GBP The pound completed a positive week across the board to end July, despite most positive currency movements for sterling being based off the back weakness of other currencies, in particular the US Dollar. Concerns of a second wave of infections and an economy that is flagging and growing pressure to reach a Brexit trade […]

31/07/2020

US economy suffers biggest blow since the Great Depression

USD The US economy has suffered its biggest blow to GDP since the Great Depression in the second quarter as the real effects of the Covid-19 pandemic are now being shown. Gross Domestic Product collapsed by 32.9% in the last quarter, the biggest contraction since records began to be kept in 1947. Previously, the all-time […]

30/07/2020

Dollar continues week from hell

GBP Sterling edged higher against a broadly weaker dollar but traded flat against the euro yesterday. The recent appreciation in sterling can be attributed to general dollar weakness as investors have unwound safe-haven dollar positions in favour of more riskier assets like sterling. This is mainly due to the fact that the US are struggling […]

29/07/2020

Sterling reaches four month highs against dollar

GBP Sterling rose to four month highs against a weak US Dollar on Tuesday but gains were capped against the Euro due to ongoing Brexit uncertainty. The European Union says a deal needs to be done by October to allow time for ratification by the end of the year. Both sides have said the talks […]

28/07/2020

Sterling edges higher against weak US Dollar

GBP The pound lacked any key drivers on its own merits at the start of this week but was buoyed against the struggling US Dollar as uncertainty over Brexit talks and Britain’s economic prospects kept investors subdued on sterling. Talks between the UK and the European Union stalled last week over the chances of securing […]

27/07/2020

US Dollar posts its biggest weekly decline

GBP Sterling continued to strengthen against a falling dollar and cable saw its biggest weekly gain since the start of June as data suggests that an economic recovery is underway. Sterling’s gains against the dollar were also influenced by the delay in a US stimulus package bill along with rising cases of Covid-19 and tensions […]


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