The Pound stayed roughly range bound yesterday as news that Standard & Poor were keeping their negative watch on the UK’s AAA credit rating, was later countermanded by a stock market recovery…read more
The Pound gained some support from the OBR report, and has managed to keep above 1.47 into this morning. Sterling has also managed to make some modest gains against the single currency, pushing up towards 1.21 even as the Euro itself benefited from some decent economic data…read more
It was another day of turmoil in the markets yesterday as fears over the drag on global growth from the struggling Eurozone nations, and the seemingly ad hoc way that financial regulation is being introduced, has caused panic…read more
The big event of yesterday came after the close of European trading as Germany announced a ban on naked short selling 10 different German financial institutions as well as Euro bonds and credit default swaps…read more
With the election over and the make up of the government finally decided, the news media has turned back to it’s previous obsession, the ash cloud, grounded flights and the BA strike. The new government have already started to talk about cuts, wasting no time in blaming the previous administration for excessive spending…read more
As the election was held last Thursday the MPC meeting has been put back to today, although as there is to be no change in rates or policy it will add little to the picture. There is little else out today to exercise the markets, so they will be left dealing with the fallout of the election and the Greek crisis…
n the UK the fallout from the election will dominate thinking and is likely to provide a drag on the Pound with no clear agreement in sight. Across the Pond it’s the usual non-farm payrolls which will be focusing traders minds…
The election will be dominating today’s UK news, and the fallout tomorrow is likely to overshadow the usual headline making US non-farm payrolls, at least in the UK. We are in for an interesting few days, not just for the markets but also for the future strength of the EU, and the next five years for the UK.
Sterling has stayed buoyant against the Euro, and is likely to continue to do so especially if the Conservatives keep stretching their lead in the polls in the run up to Thursday, and the prospects of the Greek bailout continue to be uncertain.
May day is normally a day of left wing protest around Europe and this year the Greek protesters will have something to focus on, the scale of the protest may weigh on the Euro over the weekend, although a bail out next week should help the single currency.