The battered vehicle that is the ongoing Brexit negotiations took another blow this week as the EU rejected PM May’s Brexit plan, the so-called “chequers deal,” which proposes the UK and EU share a common rulebook for goods and services post-Brexit to avoid the need for customs checks on the Irish border. However, the EU feels this will give UK ...
GBP bulls received a further boost this week from solid inflation data released yesterday, fuelling a fresh spate of buying in the British Pound. The latest CPI inflation readings for August showed both headline and core inflation beating expectations. Headline inflation rose 2.7% over August, far outperforming expectations of 2.4% and hitting i...
BoE To Wait & See The upcoming BoE meeting this week has lost some importance following the bank’s last meeting in August at which the BoE raised rates by a further .25% (rates are now back above 0.5% for the first time in a decade) though signaled that another rate hike is unlikely until after the March 2019 Brexit deadline. [shortcode-...
Wage Growth Rebounds After dipping down to 2.4% in the three months to June, UK wage growth rebounded over the three months to July printing 2.6% (520 GBP per week) and beating expectations of a 2.5% reading. The ex-bonus reading was similarly strong printing 2.9% (489 GBP per week) from a prior 2.7% and beating expectations of a 2.8% rea...
The week ahead starts off on a busy note with China's inflation figures due to come out for August. It is also a busy week for the British pound which will see the release of the monthly jobs report alongside the newly started monthly GDP figures. Data from the United States will cover the producer price and consumer price index data for the ...
As we move through the final month of the penultimate quarter of the year, I thought it would be good to have a quick catch up on where the four major G10 central banks are at. It's been a far busier summer than usual with ongoing trade disputes, political turmoil around Brexit and sharp moves in oil, equity and commodity markets which are all h...
Brexit To-Do List Ahead of the agreed March 2019 departure date, there are two things that need to happen. The first is for both the UK and the EU to establish a deal around the withdrawal agreement that will cover everything regarding the UK’s exit, such as its financial commitments, the transition period to be honored and importantly, the Iri...
After months of heavy selling pressure, GBP bulls finally got some reprieve this week as the Pound rallied in response to news that the EU will offer the UK a trade deal. Michael Barnier, the EU’s chief Brexit negotiator said that the deal will be unlike any other ever offered by the EU. [shortcode-variables slug="act_tradeideas"] Barnier Of...
Economic data from the UK last week covered the unemployment, inflation and retail sales. Data showed that the UK's unemployment rate fell to a 43 year low of 4.0%. However, wage growth remained sluggish. Meantime, inflation was seen rising for the first time this year to 2.5% in July. The increase in inflation came after the BoE's rate hike ...
Will exporters flourish? The likelihood of a dramatic depreciation in sterling in response to a no deal Brexit has been highlighted by some as likely to fuel a boom in exporter activity which could offset some of the other economic woes the country will face. However, if credit tightens up and border issues create delays, the impact on just-in-...
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