uk brexit forex

With US and EU politics having dominated the landscape over most of the year so far, attention is now shifting back to the UK where the government’s Brexit battle is in full swing. After much anticipation, UK PM Theresa May last week unveiled her new plan for Brexit. The new agreement affirms that the UK will abide by a “common rulebook for all ...

2018-07-10 James Harte Read more

On the weekend, the German elections concluded with the incumbent, Angela Merkel's CDU/CSU party winning the elections albeit losing some votes to the fringe parties. The sentiment in the euro was a bit dented as a result. Against the British pound, the euro closed last Friday at 0.8833 and opened on Monday at 0.8814. The EURGBP is still to pos...

2017-10-22 John Benjamin Read more

The Bank of England will be meeting today for its monthly monetary policy review. Based on the economists poll, no changes to interest rates are expected, which remain at 0.25%, a historical low. However, some institutions are not ruling out the scope for a rate hike today. This hawkish scenario comes from the fact that in the July MPC meeting,...

2017-08-03 John Benjamin Read more
UK unemployment_1307

The monthly jobs report from the UK was a mixed bag with the unemployment rate falling to a 42-year low at 4.5%, down from 4.6% previously. Despite the solid headline, wages continued to disappoint. The unemployment rate fell to 4.5% and marked the lowest unemployment rate in the UK since 1975. Official data from the UK's Office for National St...

2017-07-26 John Benjamin Read more
BOE_GBPUSD_BOE_Sterling

Shift in Tone by BOE Comments by BOE Governor Mark Carney at last week’s Sintra panel saw strong Sterling demand kick in as markets reacted to the BOE’s perceived shift in sentiment. The BOE governor declared that the debate about raising rates before year end is now “live” among the MPC. The key takeaway from this event was the insight it give...

2017-07-26 James Harte Read more
Manchester_Indices_2305

After the sad events that occurred overnight in the UK – Manchester, we have noticed some negative impact on the markets, including Asian equities, European equities, and currencies. However, such impact was short-lived and most of the markets have recovered its initial declines, supported by economic releases. Asian Equities Declines Desp...

2017-07-26 Nour Eldeen Al-Hammoury Read more
BOE GBP

After a week with the lack of fundamentals across the board, this week comes with many economic releases and events, which likely to spark the level of volatility once again. During the European session ahead, all eyes will be on the UK as we wait for inflation figures, which likely to have a notable impact on the market and GBP pairs. Expec...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Uk Inflation_BoE

Reviewing FOMC Decision The Federal Reserve decided to raise the Fed Fund Rate by 25bps as widely expected. However, one of the members has voted in favor of keeping the rates unchanged. Moreover, the Fed left the economic projections unchanged in March compared to December’s meeting. In addition, the Dot Plot chart showed only a slight chang...

2017-03-16 Nour Eldeen Al-Hammoury Read more
Euro Dollar_Technical outlook

EURUSD Weekly Engulfing Candle The Euro managed to rise for the past seven consecutive weeks, but it failed to break above 1.08 barrier, leading to a notable decline during last week’s trading, all the way back to 1.06, forming a bearish engulfing candle on the weekly chart, which increases the chances for further declines ahead. On the week...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Sterling_GBP

The British pound posted an impressive 3% gain on a single day on Tuesday since the financial crisis, erasing most of the declines in the previous weeks on just one day. Overall, the British pound rose by nearly two cents against the U.S. dollar towards $1.2400 as Britain’s PM Theresa May offered some clarity on Brexit nearly seven months after ...

2017-01-24 John Benjamin Read more