By Greg Smith on Monday, September 30th, 2019
in Blog, Market Insights
GBP – Parliament sits following Court Ruling Developments in UK politics continue to dominate market moves. We saw the Supreme Court decision that the prorogation of parliament was illegal on Tuesday. This led to a swift return to Westminster on Wednesday. Prime Minister Johnson has been seeking a general election and there is talk that […]
By Greg Smith on Monday, September 23rd, 2019
in Blog, Market Insights
GBP – Supreme Court to decide on Prorogation Another bout of Brexit optimism boosted the pound last week. Comments from European Commission President Juncker about being open to alternative arrangements suggest that a deal could happen by the end of October. Boris Johnson is expected to meet EU Council President Tusk at the UN this […]
By Greg Smith on Monday, September 16th, 2019
in Blog, Market Insights
GBP – Bank of England to hold The Bank of England is unlikely to cut rates this week. We expect a unanimous vote for no change to policy. There is no Inflation Report or press conference so there will be little new information. Governor Carney recently noted that the downside risks for UK economic growth […]
By Greg Smith on Monday, September 9th, 2019
in Blog, Market Insights
GBP – Election coming up? Parliament returned from recess last week and MPs inflicted defeats on the government Brexit strategy. The Hilary Benn bill received backing from the House of Commons and Lords. Royal assent is expected today. This bill forces the Prime Minister to ask the EU for a delay to the 31 October […]
By Greg Smith on Monday, September 2nd, 2019
in Blog, Market Insights
GBP – Emergency Brexit debate expected The House of Commons returns from the summer recess tomorrow, with markets focusing on Brexit debates and developments. The Government’s announcement that parliament will be prorogued from 10th September until the 14th October means action is expected from those MPs that want to block a ‘no deal’ Brexit. The […]
By Greg Smith on Tuesday, August 27th, 2019
in Blog, Market Insights
GBP – Pound rises with Brexit hopes Over the last week, the pound mostly gained ground on hopes that a no-deal Brexit can be averted. There were positive meetings with Merkel and Macron, though there appeared to be no major shifts in the official positions on the Irish backstop issue. However, both sides are looking […]
By Greg Smith on Monday, August 19th, 2019
in Blog, Market Insights
GBP – Market turmoil continues The markets have been in continual turmoil over the past week. Equity markets have slid further, while government bond yields have hit new lows. Inversions of the US and UK yield curves are said to signal a strong likelihood of recession. Comments from both US and China sources added to […]
By Greg Smith on Monday, August 12th, 2019
in Blog, Market Insights
GBP – GDP hits GBP Sterling was more stable last week, until it slipped again on Friday following an unexpected fall in second-quarter GDP. The week had started more positively with an increase in services PMI to 51.4. Meanwhile, stories continue to circulate about the likely outcome of Brexit in the autumn. A vote of […]
By Greg Smith on Monday, August 5th, 2019
in Blog, Market Insights
GBP – Sterling falls on Brexit concerns Sterling fell sharply last week as concerns increased about the possibility of a ‘no deal’ Brexit. The new Prime Minister appears to be driving towards an impasse with key EU leaders. The pound hit a 28-month low against the USD and a 22- month low against the euro. […]
By Greg Smith on Monday, July 29th, 2019
in Blog, Market Insights
GBP – Brexit and BoE In his first speech as Prime Minister, Boris Johnson said that the UK will leave the EU on 31 October, “no ifs or buts”. PM Johnson called for the abolition of the Irish backstop to get Brexit through, while the EU insists the current Brexit deal is the only one […]
