Jul
13
Negative ne
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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
May
12
We have a Government – GBP is up as a result
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It’s taken five days but we finally have a government and although the Labour party tried an 11th hour comeback, like a hand poking up through the soil from the grave, the markets favourite solution for the government, a Liberal/Conservative coalition, is now a done deal. The make up of the cabinet is still to be decided, but as Gordon Brown resigned, for the 2nd time in two days, the Pound put in a strong rally…read more
May
11
Still no Government GBP up vs EUR, down vs USD
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It was another tumultuous day yesterday in the markets, and at Westminster, as the weekend’s events continue to impact on the markets. The EU bailout package has given the optimism a massive boost…read more
May
10
Pound suffering from hung parliament
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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…
Apr
27
The demise of Greece … and the Euro?
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Greece’s credit rating hasn’t proved to be as resilient as the UK’s, and it’s credit rating has been downgraded several times so that it now has to pay huge sums to borrow money- we are talking about the sorts of interest rates that you see quick loan companies advertising in the back of newspapers. Greece’s issues are compounded by the inflexibility of its labour force to adjust to austerity measures leading to strikes and general unrest.
Apr
27
Pound can’t hold it’s gains against EUR
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It seems that just as the parties want to stoke up the fears of a hung parliament, the markets themselves are becoming more sanguine about the issue. The speculative positions in the market, which were heavily betting on the Pound weakening over the election period, have slowly been drawn back in over the last four weeks, even as the prospects of a hung parliament look ever more likely. If the polls stay balanced up to the election next week, then it may test the relaxed stance of some investors…
Apr
23
GBP down, and then up and then…
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The main news in the mainstream media is the fallout from yesterday’s debate, and with the popularity of shows like Dancing on Ice, X-factor and Britain’s got Talent, it’s perhaps not a surprise that everyone talks about the debate as a talent show, judging the leaders on performance rather than on policy as well as talking about who ‘won’ the debate.
Apr
20
Pound sees some unlikely gains – albiet small ones
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If this election is about change (as every party is telling us, even the party that’s been in power for 13 years), then the change must come to the electoral system. The peculiarities of the first past the post system, now seem so embedded that election analysts on news programs can show charts with Labour getting the least votes of the three main parties and yet still end up with the largest number of seats, without any comment …
Apr
19
GBP falls back because of Goldman Sachs and The Lib Dems
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It’s taken a multinational event to take the election campaign off the front pages, and although the news media are focused on the travel problems caused by the volcanic ash, it is the news from the US about the accusations of fraud committed by Goldman Sachs which has caused ripples in the market.
Apr
16
The debate does little…
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In spite of the media’s predictions, last night’s debate didn’t seem particularly historic, and disappointingly none of the politicians made any massive mistakes.