Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.
January Flash Sale: What in the world was that?!… I faintly hear you ask. Well, it was an opportunity for incredible value for the brave and woeful losses for the fearful! Take a look below at exactly what the dying hour of the first trading day of 2019 decided to deliver: […]
Resolutions: It appears as though the supposed leader of the free world, President Trump, takes New Years’ Resolutions a little too seriously, frantically packing his proposed reforms into the dying days of 2018. Cast your mind back to before the Christmas period. What did we see coming from the White House? […]
Banks: Do what we say (and not what we do) Dollarwise All those exposed to currency markets whether corporate or private clients need to have a view on where the USD will go in 2019. The consensus from bank forecasters is that the USD will weaken in 2019 and especially in H2 2019 […]
Another Brick in the Wall: The US stock market rallied sharply after the London close last night wiping out the losses and posting a gain of 1.14% on the day. The FTSE has similarly rallied in relief this morning currently up 100 points. So, what is the volatility all about? Rising US interest rates […]
Chinese Takeaway: With an absence of liquid London markets and a dearth of political news with President Trump in Iraq, it is a chance to turn to the city of Yiwu in north eastern China. Why and what? This is a city of 1.2 million comparable to our own Birmingham (1.1 million) with […]
Ding Dong Merrily: But not on (a) high: This year has not ended with a traditional Santa Rally and the FTSE has ended the year down 12.12%. Looking on the bright side, a lot better than the Shanghai Composite which was the worst of the major stock markets with a 24.85% decline in 2018. […]
Sterling: not just for Christmas With a collective gasp of relief, Parliament has headed off for the Christmas break to refresh itself for the forthcoming debates and voting slated for January. Currency markets similarly to Parliament have reflected this by regarding Sterling and where it is headed as next year’s problem. Narrow […]
I got 99 problems… and Brexit will be Won? Or will it?! The 99 days up until the 29th March 2019, the proposed Brexit date under an unamended Article 50, will each represent a huge challenge to the Pound, and a potential problem with the defiant Prime Minister, Theresa May. The Pound Sterling endured […]
Di Maio My: Italy held its general election on the 4th March 2018, with a new and unstable government emerging in the subsequent weeks, populated by the dominant Five Star Movement and The League parties. The teachings of the new coalition were of fiscal profligacy, spending their way out of what they saw […]
Take the Victory! Fed wobbles, stocks stabilise, and we start from square one once again. President Trump has launch yet another attack at Jerome Powell’s Federal Reserve Bank for its observably hawkish approach to US monetary policy. The reserve bank will meet tomorrow to decide whether to raise its domestic interest rates for the […]
Mumma Mia! This What a week -and before you think I am referring to Theresa May’s shuttle around firstly the UK to sell her Brexit deal and then Europe to sell her Brexit deal (a theme is developing here) I am, but only in part as much else has been happening in Europe […]
Buying’s Over: This afternoon’s European Central Bank meeting briefly took attention away from the European Council Summit in Brussels today. In its last monetary policy statement of the year the European monetary authority confirmed that net asset purchases would end, as planned, ahead of 2019. To the detriment of the Euro, ECB President Draghi […]
Santa Claus is coming to Pound: Yesterday afternoon’s pessimism surrounding the capacity for Theresa May to negotiate any concessions or adjustments in Europe faded into concerns hinting towards the twilight of her premiership itself, the Pound took a tumble. The New York session saw an uncharacteristically large 0.35% wiped off of the value of […]