Posts

GBP With overall confidence in the economic outlook remaining weak, further coronavirus restrictions undermined activity in the hospitality sector and potentially having a wider impact on confidence and activity. Sterling was however, resilient with markets still expecting that some form of trade deal would be secured with the EU during…

GBP Underlying confidence in the UK remains fragile as the latest YouGov consumer confidence data recorded a decline from 102.4 to 101.3 previously and the first decline in five months which maintained reservations over the recovery outlook. With Brexit talks continuing, UK government officials have stated there is still a…

GBP Consumer confidence declined to 5-month low of -31 for October from -25 in September with consumers less confident over the outlook. Retail sales did increase however to 1.5% for October which came in above consensus forecasts. The CBI industrial trends index recovered to -34 for October from -48 previously…

GBP In comments made yesterday ahead of the US session, EU Chief Negotiator Michel Barnier reiterated that the EU was willing to intensify trade talks and ready to discuss all legal texts. On the back of those comments, the market adopted an optimistic stance and pushed Sterling higher. These reports…

GBP The CPI inflation rate increased to 0.5% from 0.2% and in line with forecasts with the core rate at 1.3% from 0.9% while the September budget deficit increased to £36.1bn from £7.7bn last year. Bank of England member Dr Gertjan Vlieghe stated that the risks of negative rates being…

GBP Sterling rose at the start of the European session yesterday with market expectations that a fresh attempt to secure a fresh breakthrough and salvage a trade deal with the EU. The firm tone in risk appetite was also significant in underpinning Sterling demand, although selling interest was found above…

GBP Sterling is advancing above the 1.29 against the Dollar and 1.1050 against the Euro amid hopes that Brexit talks could resume and that the UK would water down the controversial Internal Markets Bill. Sterling pairs saw a fair amount of movement on Friday as UK PM Boris Johnson reiterated…

GBP Sterling came under renewed selling pressure yesterday and erased the previous day’s gains to move from one-week lows. The Pound was being pressured by the introduction of new coronavirus lockdown restrictions in the UK, a strong pickup in the Dollar demand and the ever present yoyoing of the trade…

GBP Sterling remained under pressure in early Europe yesterday with a retreat to lows near the  1.2860 against the Dollar and 1.0960 against the Euro. There was however, a sharp reversal following reports that the UK would not walk out of trade negotiations with the EU even though no deal…

GBP Sterling was unable to gain support from the labour-market data, especially with fears that the unemployment would increase sharply over the next few months. EU Chief Negotiator Barnier stated that some progress had been made in trade talks with the UK but not enough or as much as expected….